(a) No livestock market operator shall engage in or carry on such business without first applying for and obtaining a license from the Commissioner. The triennial fee for a livestock market operator license shall be proportionate to the surety acquired by such operator, but shall not exceed $200.00.
(b) No dealer who buys or sells through a livestock market operator or directly from producers shall engage in or carry on such business without first applying for and obtaining a license from the Commissioner. The triennial fee for a dealer license shall be no more than $25.00.
(c) No license shall be issued to any person pursuant to this Code section unless the applicant therefor furnishes to the Commissioner the surety required under this article and such surety is approved by the Commissioner. Any and all surety applications shall be accompanied by a certificate of "good standing" issued by the Commissioner of Insurance. If any company issuing a surety shall become unauthorized to do business in this state, it shall be the duty of the Commissioner of Insurance to notify the Commissioner of Agriculture within 30 days. Such sureties shall be conditioned to secure the faithful performance of a person's obligations as a livestock market operator or dealer under this article and the rules and regulations prescribed pursuant thereto. If the surety of a dealer or livestock market operator is canceled, then the license of such person shall immediately be revoked by operation of law without notice or hearing.
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