Montana Code 81-8-251. Certificate to operate livestock market required — application
81-8-251. Certificate to operate livestock market required — application. (1) A person may not operate as a livestock market unless the person first obtains from the department a certificate declaring that public convenience and necessity require the operation.
Terms Used In Montana Code 81-8-251
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department: means the department of livestock provided for in Title 2, chapter 15, part 31. See Montana Code 81-8-213
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Livestock: means cattle, calves, hogs, pigs, horses, mules, sheep, lambs, and goats. See Montana Code 81-8-213
- Livestock market: means :
(i)a person engaged in the business of buying or selling livestock in commerce on a commission basis;
(ii)a person engaged in the business of furnishing stockyard services; or
(iii)a livestock video auction as defined in this section. See Montana Code 81-8-213
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual, firm, association, partnership, or corporation. See Montana Code 81-8-213
- Property: means real and personal property. See Montana Code 1-1-205
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- Writing: includes printing. See Montana Code 1-1-203
(2)The application for a certificate of public convenience must be in writing, verified by the applicant, and filed with the department. The application must specify the following:
(a)(i) the names of the persons applying for a certificate together with their permanent addresses; or
(ii)if the applicant is a firm, association, partnership, or corporation, the names of its directors, officers, and members, if applicable;
(b)the place where the applicant proposes to operate as a livestock market;
(c)a complete description of the property and facilities proposed to be used for the livestock market;
(d)the commissions or charges the applicant proposes to impose on the consignors’ livestock for services rendered by the applicant in the operation of the livestock market;
(e)a detailed statement of the facts on which the applicant relies to show public convenience and necessity for the livestock market, including the trade area to be served, the economic benefits to the livestock industry, and the services to be offered;
(f)if the applicant is a foreign corporation, its principal place of business outside the state, the state in which it is incorporated, and a showing that it is in compliance with the laws relating to foreign corporations doing business in this state;
(g)a detailed financial statement showing that current assets exceed current liabilities and that long-term assets exceed long-term liabilities; and
(h)any additional information the department may require.