In this sub-chapter
- (1) "Person" means an association, corporation, partnership, or other business unit or arrangement, or a natural person. When used in the singular the plural is included.
- (2) "Board" means the board of livestock provided for in 2-15-3102, MCA.
- (3) "Association sale" means a sale of livestock by auction or similar method sponsored by a livestock association. It includes an association organized on a geographic basis made up of livestock producers who collectively produce more than one breed of livestock.
- (4) "Test station sale" means a sale of livestock by auction or similar method from a place where livestock are taken to measure rates of gain under uniform feeding conditions when that place is not owned by the owner of the livestock.
(5) "Management firm" means a person with whom the association or test station sponsoring a sale has contracted
to conduct the sale. Management services include but are not
limited to receipt and disbursement of funds received for the sale of livestock.
(6) "Custodial account" means a demand account established in a Montana bank licensed under state or federal law into which all proceeds from the sale of livestock at a
sale covered by these rules must be placed for prompt disbursement, after proper charges have been subtracted, to consignors selling livestock at the sale.
- (7) "Livestock" means cattle, horses, sheep and swine.
Authorizing statute(s): Sec. 81-8-214 MCA
Implementing statute(s): Sec. 81-8-214 MCA
History: NEW, Eff. 4/1/76.