section 193 of this titleOn and after , the Secretary may require reasonable bonds from every market agency (as defined in this subchapter), every packer (as defined in subchapter II of this chapter) in connection with its livestock purchasing operations (except that those packers whose average annual purchases do not exceed $500,000 will be exempt from the provisions of this paragraph), and every other person operating as a dealer (as defined in this subchapter) under such rules and regulations as he may prescribe, to secure the performance of their obligations, and whenever, after due notice and hearing, the Secretary finds any registrant is insolvent or has violated any provisions of this chapter he may issue an order suspending such registrant for a reasonable specified period. Such order of suspension shall take effect within not less than five days, unless suspended or modified or set aside by the Secretary or a court of competent jurisdiction. If the Secretary finds any packer is insolvent, he may after notice and hearing issue an order under the provisions of requiring such packer to cease and desist from purchasing livestock while insolvent, or while insolvent purchasing livestock except under such conditions as the Secretary may prescribe to effectuate the purposes of this chapter.
July 12, 1943, ch. 215 57 Stat. 422 Pub. L. 94–41090 Stat. 1249 (, ; , §§ 1, 4, , .)
Editorial Notes
Codification
Section was enacted as part of the Department of Agriculture Appropriation Act, 1944, act , and not as part of the Packers and Stockyards Act, 1921, which comprises this chapter.
Amendments
Pub. L. 94–4101976— inserted provisions exempting market agencies and packers whose average annual purchases do not exceed $500,000 from bonding requirement and authorizing Secretary, after notice and hearing, to issue cease and desist orders to insolvent packers prohibiting the purchase of livestock except under conditions prescribed by Secretary, respectively.
Prior Provisions
Provisions similar to those in this section were contained in the following prior appropriation acts:
July 22, 1942, ch. 516 56 Stat. 689 , .
July 1, 1941, ch. 267 55 Stat. 432 , .
June 25, 1940, ch. 421 54 Stat. 557 , .
June 30, 1939, ch. 253 53 Stat. 970 , title I, .
June 16, 1938, ch. 464 52 Stat. 721 , title I, .
June 29, 1937, ch. 404 50 Stat. 406 , .
June 4, 1936, ch. 489 49 Stat. 1432 , .
May 17, 1935, ch. 131 49 Stat. 257 , title I, .
Mar. 26, 1934, ch. 89 48 Stat. 477 , .
Mar. 3, 1933, ch. 203 47 Stat. 1441 , .
July 7, 1932, ch. 443 47 Stat. 620 , .
Feb. 23, 1931, ch. 278 46 Stat. 1252 , .
May 27, 1930, ch. 341 46 Stat. 402 , .
Feb. 16, 1929, ch. 227 45 Stat. 1198 , .
May 16, 1928, ch. 572 45 Stat. 547 , .
Jan. 18, 1927, ch. 39 44 Stat. 1002 , .
May 11, 1926, ch. 286 44 Stat. 527 , .
Feb. 10, 1925, ch. 200 43 Stat. 851 , .
June 5, 1924, ch. 266 43 Stat. 460 , .