Section 2-15-66 Livestock Market Operators Selling Livestock at Auction Not to Permit Purchase of Livestock, Etc., by Owners, Officers, Employees, Etc., of Market.

Livestock market operators selling at auction must not let their owners, staff, or related workers buy consigned livestock for speculative resale or profit-sharing arrangements, with one limited exception for protecting consignors’ interests after a public sale.

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Jurisdiction: United States — Alabama
Instrument: Act or statute
Version: Undated source snapshot
Language: en
Official source: View official record ↗

conflicts of interest livestock auctions market operations

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Provisions of Section 2-15-66 Livestock Market Operators Selling Livestock at Auction Not to Permit Purchase of Livestock, Etc., by Owners, Officers, Employees, Etc., of Market.

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Section 2-15-66 Livestock Market Operators Selling Livestock at Auction Not to Permit Purchase of Livestock, Etc., by Owners, Officers, Employees, Etc., of Market.
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AI-assisted research summary: Livestock market operators selling at auction must not let their owners, staff, or related workers buy consigned livestock for speculative resale or profit-sharing arrangements, with one limited exception for protecting consignors’ interests after a public sale.

(a) Livestock market operators who sell livestock at auction shall not permit their owners, officers, agents or employees to purchase livestock at auction from consignments for resale for their own speculative accounts nor purchase livestock for the accounts of others, nor shall they permit their owners, officers, agents or employees to enter into agreements with other parties whereby such owners, officers, agents or employees shall share, directly or indirectly, in profits realized from resale of livestock purchased at auction out of consignments on a speculative basis. This provision shall not prohibit the livestock market from purchasing livestock from consignment in order to protect the legitimate interests of consignors after having publicly offered the livestock for sale to the highest bidder. (b) Livestock market operators shall not permit auctioneers, weighmasters, clerks, starters or other employees performing duties of comparable responsibility to purchase livestock out of consignment for any purpose for their own accounts or the accounts of others.

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Section 2-15-66 Livestock Market Operators Selling Livestock at Auction Not to Permit Purchase of Livestock, Etc., by Owners, Officers, Employees, Etc., of Market.

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Provisions of Section 2-15-66 Livestock Market Operators Selling Livestock at Auction Not to Permit Purchase of Livestock, Etc., by Owners, Officers, Employees, Etc., of Market.

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