With the President’s signature on December 27, 2020, Livestock Dealer Statutory Trust is now law!
Dealer Trust gives sellers of livestock (often livestock auction markets or producers) the legal priority to get livestock back when a livestock dealer fails to pay. If the cattle have been resold, the unpaid sellers are now first in line for the proceeds. The creation of a Dealer Statutory Trust, modeled after the existing Packer Statutory Trust, will give unpaid sellers of livestock first priority in livestock or if the livestock have already been resold, the proceeds/receivables from livestock.
Watch to Learn More
Click on the video below learn more information on the new Dealer Statutory Trust law, what it means and how it affects you: