40-15A-8.1. Partial payment of purchase price at time of sale or delivery--Payment of balance.

Every licensee under this chapter shall pay, upon request by the seller, eighty percent of the negotiated value of livestock sold at the time of the sale or delivery of the livestock sold, if the term of the sale is on the grade or carcass basis. Thereafter, upon the livestock slaughtered and the determination of the yield and final grade are established, the balance shall be paid on the day following sale determination.

Source: SL 1975, ch 259, § 7; SL 1990, ch 325, § 284.