[Code of Federal Regulations]

[Title 9, Volume 2]

[Revised as of January 1, 2007]

From the U.S. Government Printing Office via GPO Access

[CITE: 9CFR201.200]



[Page 29]

 

                  TITLE 9--ANIMALS AND ANIMAL PRODUCTS

 

  CHAPTER II--GRAIN INSPECTION, PACKERS AND STOCKYARDS ADMINISTRATION 

      (PACKERS AND STOCKYARDS PROGRAMS), DEPARTMENT OF AGRICULTURE

 

PART 201_REGULATIONS UNDER THE PACKERS AND STOCKYARDS ACT--

Table of Contents

 

Sec. 201.200  Sale of livestock to a packer on credit.



    (a) No packer whose average annual purchases of livestock exceed 

$500,000 shall purchase livestock on credit, and no dealer or market 

agency acting as an agent for such a packer shall purchase livestock on 

credit, unless: (1) Before purchasing such livestock the packer obtains 

from the seller a written acknowledgment as follows:



    On this date I am entering into a written agreement for the sale of 

livestock on credit to ----------------, a packer, and I understand that 

in doing so I will have no rights under the trust provisions of section 

206 of the Packers and Stockyards Act, 1921, as amended (7 U.S.C. 196, 

Pub. L. 94-410), with respect to any such credit sale. The written 

agreement for such selling on credit



Covers a single sale.

Provides that it will remain in effect until (date).

Provides that it will remain in effect until canceled in writing by 

either party.

(Omit the provisions not applicable.)

Date____________________________________________________________________

Signature_______________________________________________________________



    (2) Such packer retains such acknowledgment, together with all other 

documents, if any, setting forth the terms of such credit sales on which 

the purchaser and seller have agreed, and such dealer or market agency 

retains a copy thereof, in his records for such time as is required by 

any law, or by written notice served on such person by the 

Administrator, but not less than two calendar years from the date of 

expiration of the written agreement referred to in such acknowledgment; 

and

    (3) Such seller receives a copy of such acknowledgment.

    (b) Purchasing livestock for which payment is to be made by a draft 

which is not a check, shall constitute purchasing such livestock on 

credit within the meaning of paragraph (a) of this section. (See also 

Sec. 201.43(b)(1).)

    (c) The provisions of this section shall not be construed to permit 

any transaction prohibited by Sec. 201.61(a) relating to financing by 

market agencies selling on a commission basis.



(Approved by the Office of Management and Budget under control number 

0580-0015)



(Sec. 401, 42 Stat. 168 (7 U.S.C. 221); sec. 409, as added by sec. 7, 90 

Stat. 1250 (7 U.S.C 228b); 7 CFR 2.17, 2.54; 42 FR 35625; Pub. L. 96-

511, 94 Stat. 2812 (44 U.S.C. 3501 et seq.); 7 U.S.C. 222 and 228 and 15 

U.S.C. 46)



[42 FR 49929, Sept. 8, 1977, as amended at 49 FR 39516, Oct. 9, 1984; 54 

FR 37094, Sept. 7, 1989; 68 FR 75388, Dec. 31, 2003]



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