277.070. Responsibility of licensee--net proceeds. - Missouri Statutes

Responsibility of licensee--net proceeds.

277.070. 1. Each licensee is responsible to the consignorof any animal offered in the livestock sale for the net proceedsof any bona fide sale of the animal and on the date of sale isresponsible to the purchaser of the livestock for the safedelivery of the animal to the purchaser or his agent in a loadingchute at site of the sale.

2. "Net proceeds" means and includes the amount remaining ofany sale after deducting commissions, inspection fees and allother deductible items authorized by the terms of sale asannounced by licensee, his or its agents, at the opening of thelivestock sale at which the sale is made.

(L. 1943 p. 310 § 7, A.L. 1957 p. 20)