40-15-7. Factors considered in determining whether to issue license. In determining whether a license to operate a livestock auction agency should be granted or denied, the Animal Industry Board shall give reasonable consideration to:
(1) The ability of the applicant to comply with the Federal Packers and Stockyard Act, as amended (7 U.S.C. § 181 et seq.) and the rules of the Animal Industry Board;
(2) The continuing financial stability, business integrity, and fiduciary responsibility of the applicant;
(3) The livestock industry marketing benefits to be derived from the establishment and operation of the livestock auction agency proposed in the application;
(4) The adequacy of the facilities set forth to permit the performance of livestock agency services proposed in the application;
(5) Whether the proposed livestock auction agency would be permanent and continuous.Source:
SDC 1939, § 40.2002 as added by SL 1961, ch 204, § 2; SL 1990, ch 325, § 243.
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