§ 2-15-134 — Acceptance of Bonds Given Under Federal Packers and Stockyards Act

Alabama § 2-15-134

• Jurisdiction: Alabama
• Title 2: Agriculture
• Ch. 15: Livestock
• Art. 6: Livestock Dealers’ Financial Responsibility Act

Text

The commissioner is hereby authorized to accept a bond made by any dealer pursuant to the bonding requirements of the federal Packers and Stockyards Act, 1921, as amended, and any dealer presenting such a bond shall be deemed to have complied with the bonding provisions of Section 2-15-133; provided, that the amount of such bond equals or is greater than the amount required in said Section 2-15-133. If the amount of such bond does not satisfy the requirements of said Section 2-15-133, such bond shall be increased to such amount as will satisfy the requirements of said section, prior to issuance of a license to such dealer. Any dealer not required to file and maintain a bond or a bond equivalent pursuant to the requirements of the federal Packers and Stockyards Act, 1921, as amended, shall be required to file and maintain a bond for the amount as set forth under Section 2-15-133.

Legislative History

(Acts 1969, No. 568, p. 1049, §5.)