“Stockyard owner”; “stockyard services”; “market agency”; “dealer”; defined

7 U.S.C. § 201
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
In this chapter: (a) The term “stockyard owner” means any person engaged in the business of conducting or operating a stockyard. (b) The term “stockyard services” means services or facilities furnished at a stockyard in connection with the receiving, buying, or selling on a commission basis or otherwise, marketing, feeding, watering, holding, delivery, shipment, weighing, or handling in commerce, of livestock. (c) The term “market agency” means any person engaged in the business of (1) buying or selling in commerce livestock on a commission basis or (2) furnishing stockyard services. Beginning on October 7, 2016, such term includes any person who engages in the business of buying or selling livestock, on a commission or other fee basis, through the use of online, video, or other electronic methods when handling or providing the means to handle receivables or proceeds from such buying or selling, so long as such person’s annual average of online, video, or electronic sales of livestock, on a commission or other fee basis, exceeds $250,000. (d) The term “dealer” means any person, not a market agency, engaged in the business of buying or selling in commerce livestock, either on his own account or as the employee or agent of the vendor or purchaser.

Starting a business? Corpus forms LLCs in all 50 states and DC.