54-1163 Hearing; determination; factors; issuance of license. - Nebraska Statutes

54-1163. Hearing; determination; factors; issuance of license.The hearing required by section 54-1162 shall be heard by two or more members of the board. If the board determines, after such hearing, that the proposed livestock auction market would beneficially serve the livestock economy, it shall issue a market license to the applicant. In determining whether or not the application should be granted or denied, the board shall give reasonable consideration to:(1) The ability of the applicant to comply with the federal Packers and Stockyards Act, 1921, 7 U.S.C. 181 et seq., as amended;(2) The financial stability, business integrity, and fiduciary responsibility of the applicant;(3) The adequacy of the facilities described to permit the performance of market services proposed in the application;(4) The present needs for market services or additional services as expressed by livestock growers and feeders in the community; and(5) Whether the proposed livestock auction market would be permanent and continuous. SourceLaws 1963, c. 319, § 7, p. 965; Laws 1999, LB 778, § 66. AnnotationsDetermination of Livestock Auction Board that license should be issued will not be disturbed if there is any evidence to support it. Midwest L. C. Co. v. Tri-State L. C. Co., 182 Neb. 41, 151 N.W.2d 908 (1967).