A Deeper Look At Agricultural Packers Bond
After posting enough bond, filing a current financial statement and passing primary exams of monetary duty, sellers and public sale markets are granted a license. A license might be revoked by the Delaware Department of Agriculture at any time. Due to this fact, the Meals Merchandise Inspection part must be contacted to determine the standing of a license. The Delaware Department of Agriculture makes no warranty regarding using the record and recommends that you simply contact the Food Merchandise Inspection Section for present info.
Earlier than being issued a license, candidates should acquire a surety bond of a minimum of $10,000. The actual premium to be paid shall be determined by an underwriter, nevertheless it will likely be a share of the bond quantity that sometimes ranges from 1-10%. If an applicant forgoes the surety bond requirement, the Secretary may allow an alternate form of monetary safety in lieu of the surety bond.
Agricultural Packers Bond, All About It
The Packers and Stockyards Act of 1921, as amended (PSA” or Act”), 7 U.S.C. §§ 181-229, is designed to insure efficient competition and integrity in livestock, meat, and poultry markets. NRS 576.132 Free-sale certificate for agricultural product; submission of utility; requirements.
In no case shall the bond or deposit masking the business of the vendor or broker be less than the quantity specified above or such greater amount as may be specified by the “Packer and Stockyards Act of 1921,” forty two Stat. 159, 7 U.S.C.A. 181, as amended.
Producers of livestock might also wish to file a claim under the USDA Grain Inspection, Packers and Stockyards Administration (GIPSA) by calling them at 1-800-998-3447. Inquiries regarding GIPSA should be directed to the Packers and Stockyards Administration on the similar quantity or direct at 404-562-5848.
Kentucky Revised Statutes Title XXI. Agriculture And Animals § 261.260
Specializing in Offering Surety Bonds to Companies and People throughout the United States. NRS 576.016 Fixed and established place of job” defined. Fixed and established workplace” means any warehouse, building, storeroom or stockyard, both owned or leased, at which the owner conducts a legit everlasting business in good religion, and at which stocks of farm products or livestock are stored in quantities normally carried and fairly adequate to meet the requirements of the business therein performed.
It works out properly because so many industry teams make the case that the Packers & Stockyards Act is indefensible as a result of makes an attempt to implement it impede the free market. The ninety six-12 months-previous law has grow to be nothing more than outdated counterproductive authorities intrusion. Except the legislation is revoked and the Packers and Stockyards Program is dismantled, then future misguided, unwarranted attempts to defend so-referred to as “rights” of market individuals will once more flare up. Such undue regulatory limitations mustn’t stand in the best way of the daybreak of a new era in free enterprise, particular person freedom and restricted government.
What Companies Need To Know About Agricultural Packers Bond
The Packers and Stockyards Act of 1921, as amended (PSA” or Act”), 7 U.S.C. §§ 181-229, is designed to insure efficient competitors and integrity in livestock, meat, and poultry markets. three. Pursuant to subsection four of NRS 576.030 , process could also be served by delivering to the Director duplicate copies of the process and paying a price established by regulation of the State Board of Agriculture. The service upon the Director shall be deemed service upon the seller, dealer or fee merchant. The Director shall ahead one copy of the method by registered mail prepaid to the defendant dealer, broker or fee merchant, specifying the day and hour of service. The return receipt of the defendant is prima facie evidence of the completion of service. If service of summons is made upon the Director in accordance with the provisions of this subsection, the interval within which the defendant must appear is prolonged 10 days. The provisions of this subsection should not unique, but when a defendant supplier, broker or fee merchant is found within the State of Nevada, she or he should be served with course of in the State of Nevada.