
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC204]

 
                          TITLE 7--AGRICULTURE
 
                    CHAPTER 9--PACKERS AND STOCKYARDS
 
            SUBCHAPTER III--STOCKYARDS AND STOCKYARD DEALERS
 
Sec. 204. Bond and suspension of registrants

    On and after July 12, 1943, the Secretary may require reasonable 
bonds from every market agency (as defined in this subchapter), every 
packer (as defined in subchapter II of this chapter) in connection with 
its livestock purchasing operations (except that those packers whose 
average annual purchases do not exceed $500,000 will be exempt from the 
provisions of this paragraph), and every other person operating as a 
dealer (as defined in this subchapter) under such rules and regulations 
as he may prescribe, to secure the performance of their obligations, and 
whenever, after due notice and hearing, the Secretary finds any 
registrant is insolvent or has violated any provisions of this chapter 
he may issue an order suspending such registrant for a reasonable 
specified period. Such order of suspension shall take effect within not 
less than five days, unless suspended or modified or set aside by the 
Secretary or a court of competent jurisdiction. If the Secretary finds 
any packer is insolvent, he may after notice and hearing issue an order 
under the provisions of section 193 of this title requiring such packer 
to cease and desist from purchasing livestock while insolvent, or while 
insolvent purchasing livestock except under such conditions as the 
Secretary may prescribe to effectuate the purposes of this chapter.

(July 12, 1943, ch. 215, 57 Stat. 422; Pub. L. 94-410, Secs. 1, 4, Sept. 
13, 1976, 90 Stat. 1249.)

                          Codification

    Section was enacted as part of the Department of Agriculture 
Appropriation Act, 1944, act July 12, 1943, and not as part of the 
Packers and Stockyards Act which comprises this chapter.


                               Amendments

    1976--Pub. L. 94-410 inserted provisions exempting market agencies 
and packers whose average annual purchases do not exceed $500,000 from 
bonding requirement and authorizing Secretary, after notice and hearing, 
to issue cease and desist orders to insolvent packers prohibiting the 
purchase of livestock except under conditions prescribed by Secretary, 
respectively.


                            Prior Provisions

    Provisions similar to those in this section were contained in the 
following prior appropriation acts:
    July 22, 1942, ch. 516, 56 Stat. 689.
    July 1, 1941, ch. 267, 55 Stat. 432.
    June 25, 1940, ch. 421, 54 Stat. 557.
    June 30, 1939, ch. 253, title I, 53 Stat. 970.
    June 16, 1938, ch. 464, title I, 52 Stat. 721.
    June 29, 1937, ch. 404, 50 Stat. 406.
    June 4, 1936, ch. 489, 49 Stat. 1432.
    May 17, 1935, ch. 131, title I, 49 Stat. 257.
    Mar. 26, 1934, ch. 89, 48 Stat. 477.
    Mar. 3, 1933, ch. 203, 47 Stat. 1441.
    July 7, 1932, ch. 443, 47 Stat. 620.
    Feb. 23, 1931, ch. 278, 46 Stat. 1252.
    May 27, 1930, ch. 341, 46 Stat. 402.
    Feb. 16, 1929, ch. 227, 45 Stat. 1198.
    May 16, 1928, ch. 572, 45 Stat. 547.
    Jan. 18, 1927, ch. 39, 44 Stat. 1002.
    May 11, 1926, ch. 286, 44 Stat. 527.
    Feb. 10, 1925, ch. 200, 43 Stat. 851.
    June 5, 1924, ch. 266, 43 Stat. 460.

                  Section Referred to in Other Sections

    This section is referred to in section 228c of this title; title 11 
section 525.
