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House Journal: Page 1113: Thursday, March 28, 1996

15   This section shall not apply to a livestock market as
16   defined in section 455B.161.  This section shall not
17   apply to a person purchasing cattle, including calves,
18   for slaughter.  This section shall also not apply, if
19   all of the following requirements are met:
20     a.  The price differential is based on one of the
21   following:
22     (1)  The quality of the livestock, if the broker,
23   dealer, or agent purchases the livestock based upon a
24   payment method specifying prices paid for criteria
25   relating to carcass merit.
26     (2)  Actual and quantifiable costs related to
27   transporting and acquiring the livestock by the broker
28   or dealer, or the agent.
29     (3)  An agreement for the delivery of livestock at
30   a specified date or time.
31     (4)  The number of livestock purchased from a
32   seller by a dealer or a broker, or an agent.
33     b.  After making a differential payment to a
34   seller, the broker, dealer, or agent publishes
35   information relating to the differential pricing,
36   including the payment method for carcass merit,
37   transportation and acquisition pricing, and an offer
38   to enter into an agreement for the delivery of
39   livestock at a specified date or time according to the
40   same terms and conditions offered to other sellers.
41     3.  A broker, dealer, or agent shall provide all
42   sellers with the same terms and conditions offered to
43   a seller who receives a differential price based on
44   any of the criteria described in subsection 2,
45   paragraph "a".
46     4.  The dealer, broker, or agent shall, at the
47   beginning of each day in which livestock are
48   purchased, post in a conspicuous place at the point of
49   delivery, all prices for livestock to be paid that
50   day.

Page 2  

 1     5.  An agreement made by a broker or dealer, or an
 2   agent with a seller in violation of this section is
 3   voidable.
 4     6.  A broker or dealer, or an agent acting in
 5   violation of this section is guilty of a fraudulent
 6   practice as provided in chapter 714.
 7     7.  The attorney general shall enforce this
 8   section.  The department shall refer any violations of
 9   this chapter to the attorney general.  The attorney
10   general or any person injured by a violation of this
11   section may bring an action in district court to
12   restrain a dealer or broker, or an agent from
13   violating this section.  A seller who receives a
14   discriminatory price or who is offered only a
15   discriminatory price for livestock based upon a

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Mon Apr 1 13:30:03 CST 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01100/01113.html
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