1. A. Every livestock dealer shall maintain written records as required by the Federal Packers and Stockyards Act of 1921, as amended, and any other written records which are necessary and adequate to determine the sources and disposition of livestock that are, or have been, in said dealer's possession within the previous twenty-four (24) months.
2. B. The State Board of Agriculture and its authorized agents shall have access to examine the records of all livestock dealers within reasonable working hours.
3. C. Any holder of a license or permit issued pursuant to the Livestock Dealers Act shall be deemed to have given consent to any authorized officer, employee, or agent of the Department to enter and inspect a livestock facility or examine the records of a livestock dealer in accordance with the provisions of the Livestock Dealers Act. Refusal to permit entry or inspection, except for good cause, shall constitute grounds for denial, suspension, nonrenewal, or revocation of a license as provided in the provisions of the Livestock Dealers Act.

4. D.

   1. 1. Each livestock dealer shall be licensed by the State Department of Agriculture. The Department shall require each applicant for licensure to provide proof of a bond or other financial instrument as required by the Federal Packers and Stockyards Act of 1921, as amended. No bond shall be less than Ten Thousand Dollars ($10,000.00). It shall be a violation of the Livestock Dealers Act for anyone to act as a livestock dealer without a valid livestock dealer license.
   2. 2. Livestock purchased by any packer, market agency or dealer shall be paid for in accordance with Section 409.24 of the Federal Packers and Stockyards Act of 1921, as amended.

Laws 1976, SB 676, c. 49, § 2, emerg. eff. April 9, 1976; Amended by Laws 1996, HB 2988, c. 185, § 8, eff. November 1, 1996.