The license and financial responsibility provisions of this chapter shall not apply to any person who is licensed as provided in chapter 137F or 172 and who purchases livestock for slaughter valued at less than an average daily value of two thousand five hundred dollars during the preceding twelve months or such part thereof as the person was purchasing livestock. Said licensees are made subject to this chapter as to the regulatory and penal provisions hereof. All other provisions of this chapter shall apply to said dealers or brokers.
The provisions of this chapter shall not apply to any other person who purchases livestock for slaughter valued at less than an average daily value of two thousand five hundred dollars based upon the preceding twelve months or such part thereof as the person was purchasing livestock.
[C73, 75, 77, 79, 81, § 172A.6]
98 Acts, ch 1032, §4; 98 Acts, ch 1162, §25, 30
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