§ 9-134.1. Custodial account defaults--Board taking possession of assets--Distribution
Oklahoma Statutes AnnotatedTitle 2. Agriculture
2 Okl.St.Ann. § 9-134.1
§ 9-134.1. Custodial account defaults--Board taking possession of assets--Distribution
A. Upon the suspension or revocation of any livestock auction market license as a result of a custodial account default, the Board shall have the authority to take possession of any and all assets which belong to the custodial account for shippers' proceeds, including, but not limited to, custodial account checking or savings accounts, custodial account certificates of deposit, receivables and livestock for which the custodial account has not been reimbursed or any other assets which belong to the custodial account as determined by the Board.
1. The Board shall receive an amount equal to the cost incurred by the Board in handling and maintenance of the trust fund of shippers' proceeds, including cost of hauling, yardage, watering, feeding, commissions and other costs in the marketing or handling of any livestock taken into possession; and
Credits
Laws 1996, c. 185, § 5, eff. Nov. 1, 1996.
2 Okl. St. Ann. § 9-134.1, OK ST T. 2 § 9-134.1
Current with emergency effective legislation through Chapter 316 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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