As used in this part:

1. (1) Arkansas will adopt the definition of a dealer under the same standards as the Packers and Stockyards Division of the Agricultural Marketing Service of the United States Department of Agriculture which states, "A livestock dealer is any person (not a market agency) engaged in the business of buying or selling, in commerce, livestock either on his own account or as an employer or agent of the vendor or purchaser.";
2. (2) "Arkansas livestock dealer" means any person required to be registered under the Federal Packers and Stockyards Act, 1921, who buys, sells, or offers to sell, exchange, barter, or negotiate the sale of cattle, equidae, goats, sheep, or swine in this state whether the cattle, equidae, goats, sheep, or swine were raised in this state or brought into this state from another state;

3. (3) "Livestock dealer" does not mean:

   1. (A) A person who buys or sells animals solely for his or her own farming operation or operations;
   2. (B) Anyone who holds the animal longer than thirty (30) days before resale;
   3. (C) Anyone buying slaughter animals who sells animals for slaughter other than those bought from Packers and Stockyards Division-registered markets; or
   4. (D) A person regulated by the Arkansas Racing Commission.

Codification Notes: The Federal Packers and Stockyards Act, 1921 was originally enacted as 42 Stat. 159 and is codified at 7 U.S.C. § 181 et seq.