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     40-15-32.1.   Grounds for revocation, suspension, or refusal to renew license. The Animal Industry Board may revoke or may suspend an existing license or may refuse to renew a license if the holder or applicant:
             (1)      Makes a material false statement in an application for a license or testifies falsely on behalf of such application;
             (2)      Misuses, withdraws, diverts, or fails to directly deposit custodial funds in the custodial account required by the provisions of the Packers and Stockyards Act of 1921 and § 40-15-31;
             (3)      Has not filed or maintained a surety bond or an equivalent security in the form and amount required under the provisions of § 40-15-10;
             (4)      Has not satisfactorily demonstrated that the current assets of the agency exceed the current liabilities of the agency;
             (5)      Has been convicted, pled guilty, or pled nolo contendere before any state or federal court to charges of forgery, theft, theft by deception, bribery, embezzlement, theft by threat, conspiracy to defraud or other like offense, or violation of the livestock laws of this state;
             (6)      Has been suspended by order of the secretary of agriculture of the United States Department of Agriculture under the provisions of the Packers and Stockyards Act of 1921; or
             (7)      Has failed to comply with the provisions of § 40-15-27 or 40-15-28, or willfully falsifies records required under this chapter.

Source: SL 1988, ch 326, § 2; SL 1990, ch 325, § 268.


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