1. (a) Livestock and poultry retained primarily for personal use shall be exempt.
2. (b) The net market value of livestock and poultry retained primarily for profit shall be included in the property reserve except to the extent exempt as business property in accordance with Section 50485.

3. (c) The net market value of livestock and poultry shall be the net market value listed by the applicant or beneficiary on the Statement of Facts, unless the county department determines further verification is required. If verification is required:

   1. (1) The applicant or beneficiary shall submit three appraisals from persons or businesses dealing in livestock and poultry. The average of these appraisals shall be the market value.
   2. (2) Subtract any encumbrances of record from the market value. This is the net market value.

Note: Authority cited: Sections 10725 and 14124.5, Welfare and Institutions Code. Reference: Sections 12305 and 12305.5, Welfare and Institutions Code.

History

1. Amendment of subsection (b) filed 5-17-79 as an emergency; effective upon filing (Register 79, No. 20).

2. Certificate of Compliance filed 9-12-79 (Register 79, No. 37).