Indiana Code 15-17-14-5. Dealers and agents
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Sec. 5. (a) Subject to subsection (b), a livestock dealer may designate agents subject to the liabilities that ordinarily attach under a contract of agency. An agent may deal in livestock for the principal under the principal’s livestock dealer license. An agent dealing in livestock may deal only as an agent for the principal unless the agent has obtained a separate license under this chapter.
(b) A livestock dealer may not designate an individual as an agent if the individual’s dealer’s license was suspended or revoked in any state or by the United States Department of Agriculture, Grain Inspection, Packers and Stockyards Administration during the two (2) years preceding the proposed designation.
[Pre-2008 Recodification Citation: 15-2.1-14-5.]
As added by P.L.2-2008, SEC.8.
Terms Used In Indiana Code 15-17-14-5
- Contract: A legal written agreement that becomes binding when signed.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5