81-8-234. Financial responsibility. (1) Every livestock market or livestock dealer shall maintain a financial condition of total assets in excess of total liability, including total current assets in excess of total current liabilities.
(2) Payment for livestock purchased shall be made upon completion of the sales transaction. Payment in all livestock transactions shall be made by cash, check, or draft, as defined in 30-3-104; by electronic funds transfer, as defined in 32-6-103; or by any other bankable instrument.
History: En. Sec. 6, Ch. 566, L. 1979; amd. Sec. 6, Ch. 52, L. 1985.
Structure Montana Code Annotated
Part 2. Livestock Markets and Dealers
81-8-214. Regulation of certain nonmarket sales
81-8-215. Quarantine of diseased animals
81-8-218. through 81-8-230 reserved
81-8-231. Duties of department
81-8-232. Posting of certificate or license
81-8-233. Title warranty of livestock sold
81-8-234. Financial responsibility
81-8-235. Penalties for financial violations
81-8-237. through 81-8-250 reserved
81-8-251. Certificate to operate livestock market required -- application
81-8-252. Hearing on application for certificate -- decision
81-8-253. Transfer of certificate
81-8-254. Cancellation or suspension of certificate
81-8-255. Appeal by holder of or applicant for certificate
81-8-256. Fee to operate livestock market
81-8-259. Occasional off-premises sales
81-8-261. Inspection of public markets
81-8-262. Sale of animals of unknown ownership
81-8-263. Duties when ownership in doubt
81-8-265. Refusal to issue or renew license -- suspension or revocation
81-8-266. through 81-8-270 reserved
81-8-271. License to operate as livestock dealer -- application
81-8-272. Issuance of livestock dealer's license
81-8-273. Refusal to issue or renew license
81-8-274. Suspension or revocation of license
81-8-275. Termination of license