[Code of Federal Regulations]
[Title 9, Volume 2]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 9CFR201.32]

[Page 11]
 
                  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. 201.32  Trustee in market agency, dealer and packer bonds.

    Bonds may be in favor of a trustee who shall be a financially 
responsible, disinterested person satisfactory to the Administrator. 
State officials, secretaries or other officers of livestock exchanges or 
of similar trade associations, attorneys at law, banks and trust 
companies, or their officers, are deemed suitable trustees. If a trustee 
is not designated in the bond and action is taken to recover damages for 
breach of any condition thereof, the Administrator shall designate a 
person to act as trustee. In those States in which a State official is 
required by statute to act or has agreed to act as trustee, such 
official shall be designated by the Administrator as trustee when a 
designation by the Administrator becomes necessary.

[41 FR 53774, Dec. 9, 1976]