Title 4, Chapter 6, Section 1
As used in this chapter, the term:
(1) "Bond" means a written instrument issued or executed by a
bonding, surety, or insurance company licensed to do business in
this state, guaranteeing that the person bonded shall faithfully
fulfill the terms of the contract of purchases and guarantee the
payment of the purchase price of all livestock purchased by him,
made payable to the Commissioner for the benefit of persons
sustaining loss resulting from the nonpayment of the purchase
price or the failure to fulfill the terms of the contract of
(2) "Cash" includes only currency, cashier's checks, and money
(3) "Dealer" is synonymous with the term "broker" and means any
person, firm, or corporation, including a packer, engaged in the
business of buying livestock of any kind for resale or in selling
livestock of any kind bought for the purpose of resale or in
buying livestock of any kind for slaughter. Every agent acting for
or on behalf of any dealer, broker, or livestock market operator
is a dealer or broker.
(A) Farmers acquiring livestock solely for the purpose of
grazing and feeding as a part of their farm operations are not
encompassed by the definition of "dealer" or "broker"; and
(B) Packers whose total annual purchases of livestock are less
than $50,000.00 who buy only from licensed dealers and licensed
sales establishments are not included in the definition of
"dealer" or "broker."
(4) "Livestock" means cattle, swine, equines, sheep, ratites, and
goats of all kinds and species.
(5) "Livestock market operator" means any person, firm, or
corporation engaged in the business of operating a sales
establishment, public auctions or sales of livestock, or barns and
yards for the containment of livestock held for the purpose of
auction or sale.
(6) "Person" means any person, firm, corporation, association,
cooperative, or combination thereof.
(7) "Sales establishment" means any yard, barn, or other premises
where livestock is sold at auction.