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32.15.701    DEFINITIONS

In this sub-chapter

(1) "Person" means an association, corporation, partnership, or other business unit or arrangement, or a natural person.  When used in the singular the plural is included.

(2) "Board" means the board of livestock provided for in 2-15-3102, MCA.

(3) "Association sale" means a sale of livestock by auction or similar method sponsored by a livestock association.  It includes an association organized on a geographic basis made up of livestock producers who collectively produce more than one breed of livestock.

(4) "Test station sale" means a sale of livestock by auction or similar method from a place where livestock are taken to measure rates of gain under uniform feeding conditions when that place is not owned by the owner of the livestock.

(5) "Management firm" means a person with whom the association or test station sponsoring a sale has contracted

to conduct the sale.  Management services include but are not

limited to receipt and disbursement of funds received for the sale of livestock.

(6) "Custodial account" means a demand account established in a Montana bank licensed under state or federal law into which all proceeds from the sale of livestock at a

sale covered by these rules must be placed for prompt disbursement, after proper charges have been subtracted, to consignors selling livestock at the sale.

(7) "Livestock" means cattle, horses, sheep and swine.

History: Sec. 81-8-214 MCA; IMP, Sec. 81-8-214 MCA; NEW, Eff. 4/1/76.

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