[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: 9CFR201.34]



[Page 12]

 

                  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. 201.34  Termination of market agency, dealer and packer bonds.



    (a) Each bond shall contain a provision requiring that, prior to 

terminating such bond, at least 30 days notice in writing shall be given 

to the Administrator, Grain Inspection, Packers and Stockyards 

Administration (Packers and Stockyards Programs), U.S. Department of 

Agriculture, Washington, DC 20250, by the party terminating the bond. 

Such provision may state that in the event the surety named therein 

writes a replacement bond for the same principal, the 30-day notice 

requirement may be waived and the bond will be terminated as of the 

effective date of the replacement bond.

    (b) Each bond filed by a market agency who clears other registrants 

who are named in the bond shall contain a provision requiring that, 

prior to terminating the bond coverage of any clearee named therein, at 

least 30 days notice in writing shall be given to the Administrator, 

Grain Inspection, Packers and Stockyards Administration (Packers and 

Stockyards Programs), U.S. Department of Agriculture, Washington, DC 

20250, by the surety. Such written notice shall be in the form of a 

rider or endorsement to be attached to the bond of the clearing agency.

    (c) Each trust fund agreement and trust agreement shall contain a 

provision requiring that, prior to terminating such agreement, at least 

30 days notice in writing shall be given to the Administrator, Grain 

Inspection, Packers and Stockyards Administration, U.S. Department of 

Agriculture, Washington, DC 20250, by the party terminating the 

agreement. Such provision shall state that in the event the principal 

named therein files an acceptable bond or bond equivalent to replace the 

agreement, the 30-day notice requirement may be waived and the agreement 

will be terminated as of the effective date of the replacement bond or 

bond equivalent.



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

0580-0015)



[47 FR 32695, July 29, 1982, as amended at 54 FR 26349, June 23, 1989; 

61 FR 36279, July 10, 1996; 68 FR 75388, Dec. 31, 2003]



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