Summary: H.R.8410 — 94th Congress (1975-1976)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Passed Senate amended (06/17/1976)

(Measure passed Senate, amended)

Extends the prohibition on unfair, unjustly discriminatory or deceptive practices by meat packers and stockyard owners, market agencies, or dealers, under the Packers and Stockyards Act, to all transactions of persons subject to the jurisdiction of the Secretary of Agriculture (and not merely those transactions which occur in commerce, as is presently the case).

Exempts from the definition of "packers" under such Act general wholesale food brokers, dealers, or distributors where the Secretary determines that their inclusion is not necessary for the purposes of this Act.

Empowers the Secretary, after notice and hearing, to issue an order requiring an insolvent packer to cease and desist entirely from purchasing livestock, or to cease and desist from purchasing livestock except under such conditions as the Secretary may prescribe to effectuate the purposes of the Act.

Provides that in the event any person subject to the Act does not have the required bond, or has failed, or is unable, to pay for livestock or meats, has operated while insolvent or otherwise in violation of such Act, the Secretary may request the Attorney General to seek from a U.S. district court a temporary injunction or order restraining such person from operating subject to the Act.

Allows civil actions against packers by persons injured by a packer's violation of this Act relating to the purchase, sale, or handling of livestock.

Requires each packer market agency, or dealer purchasing livestock before the close of the next business day following the purchase of livestock and transfer of possession thereof to wire transfer funds to the seller's account or to deliver to the seller or his duly authorized representative, at the point of transfer of possession of the livestock, a check for the full amount of the purchase price, provided that in the seller's absence placement of a check in the mail for the full amount and within such time period shall be deemed compliance.

Requires that all livestock purchased by a packer, whose average annual purchases exceed $500,000 in cash sales, and all inventories of, or receivables or proceeds from, meat, meat food products, or livestock products derived therefrom be held by such packer in trust for the benefit of all unpaid cash sellers of such livestock until full payment has been received by such unpaid sellers.