The USDA Agricultural Marketing Service announced a new Dealer Statutory Trust for livestock sellers, in accordance with the year-end appropriations law.
USDA announces dealer trust for livestock sellers
February 19, 2021 / By ICBA
The USDA Agricultural Marketing Service announced a new Dealer Statutory Trust for livestock sellers, in accordance with the year-end appropriations law.
The USDA Agricultural Marketing Service announced a new Dealer Statutory Trust for livestock sellers, in accordance with the year-end appropriations law. Livestock dealers are required to hold all purchased livestock and the proceeds from resold livestock in trust for the benefit of all unpaid cash sellers of livestock until full payment has been received by those sellers. Dealers whose average annual livestock purchases do not exceed $100,000 are exempt.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
