1. a. The secretary shall have the authority to suspend the license of any dealer or broker or agent if upon hearing it is found that the dealer or broker or agent has committed any of the following acts or omissions:

 (1) Failure to submit a larger bond amount or trust fund when ordered by the secretary.
 (2) Failure to pay for purchases of livestock in the manner required by section 172A.9.
 b. An order of suspension issued by the secretary shall be effective for an indefinite period, unless and until the person establishes to the satisfaction of the secretary that the person has taken reasonable precautions to prevent a recurrence of the act or omission in the future.

Terms Used In Iowa Code 172A.11

  • Agent: means a person engaged in the buying or soliciting in this state of livestock for slaughter exclusively on behalf of a dealer or broker. See Iowa Code 172A.1
  • broker: means any person, other than an agent, who is engaged in this state in the business of slaughtering live animals or receiving, buying or soliciting live animals for slaughter, the meat products of which are directly or indirectly to be offered for resale or for public consumption. See Iowa Code 172A.1
  • Fiduciary: A trustee, executor, or administrator.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • Fund: means the grain depositors and sellers indemnity fund created in section 203D. See Iowa Code 203D.1
  • Licensee: means a licensed grain dealer or licensed warehouse operator. See Iowa Code 203D.1
  • livestock: includes cattle, calves, swine, sheep, goats, turkeys, chickens, or horses. See Iowa Code 172A.1
  • Person: means an individual, partnership, association or corporation, or any other business unit. See Iowa Code 172A.1
  • Secretary: means the secretary of agriculture. See Iowa Code 172A.1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
  • Trustee: A person or institution holding and administering property in trust.
 2. a. The secretary shall have the authority temporarily to suspend without hearing the license of any licensee in any of the following circumstances:

 (1) The licensee fails to maintain proof of financial responsibility, or the surety on the licensee’s bond loses its authorization to issue bonds in this state, or the trustee of a trust fund loses its authorization to engage in the business of a fiduciary.
 (2) Claims are filed with the secretary against the bond or trust in an aggregate amount equal to ten percent or more of the amount of the bond.
 b. A temporary suspension shall be effective on the date of issuance of the order of suspension, and until a revocation hearing has been held and the secretary either has entered an order of revocation of the license, or has terminated the order of suspension.
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