Ala. Admin. Code r. 80-3-13-.02
Current through Register Vol. 43, No. 1, October 31, 2024
Section 80-3-13-.02 - Bonding Requirements For Livestock Markets(1) The bond required of livestock markets shall not be cancelled or terminated until the Commissioner of Agriculture and Industries has been notified at least fifteen (15) days before such cancellation.(2) Livestock markets are required to notify the Commissioner of Agriculture and Industries of all suits at law or other claims filed against the principal and surety of the bond furnished by the livestock market within fifteen (15) days after a claim is filed against the principal and surety, or within fifteen (15) days after notice of any pending suit is received by the livestock market operator.(3) Livestock markets licensed under the provisions of the Federal Packers and Stockyards Act of 1921, as amended, may file a copy of the bond made under the provisions of such Act, and such bond will be accepted in lieu of the bond required under Code of Ala. 1975, § 2-15-63, provided the amount of such bond equals or is greater than the amount required under the provisions of § 2-15-63.(4) The Chief of the Stockyards and Brands Section of the Department of Agriculture and Industries is authorized to be designated and to act as Trustee in any bond furnished by livestock markets under the requirements of the Federal Packers and Stockyards Act of 1921, as amended. Author: Charles H. Barnes
Ala. Admin. Code r. 80-3-13-.02
Statutory Authority:Code of Ala. 1975, § 2-15-68.