Section 11.02.01.102 - LIVESTOCK DEALER BONDSA surety bond must be filed to support the application for a livestock dealer license as follows:
01.Bond. File a bond from an Idaho surety or Packers and Stockyards U.S.D.A. in the amount required under "Coverage" shown herein.a. Coverage. To compute the required amount of bond coverage, divide the total dollar value of livestock purchased in Idaho during the preceding year, by one-half the number of days on which business was conducted. The number of days in any business year, for the purpose of this rule is two hundred sixty (260). Therefore, the divisor is one hundred thirty (130). The amount of bond coverage must be the next multiple of five thousand dollars ($5,000) above the amount so determined. When the computation exceeds seventy-five thousand dollars ($75,000) the amount of bond coverage need not exceed seventy-five thousand dollars ($75,000) plus ten percent (10%) of the excess over seventy-five thousand dollars ($75,000), raised to the next five thousand dollars ($5,000) multiple. In no case shall the amount of bond coverage be less than ten thousand dollars ($10,000).b.Evidence. Provide evidence of an Idaho surety or bond filed with the Packers and Stockyards U.S.D.A in the amount required.Idaho Admin. Code r. 11.02.01.102