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Georgia State Code
Title       4
Chapter       6  
Section Navigation     1 ... 10           11 ... 44    
    45 ... 53         54 ... 55      
Section<<< 11 20 21 22 23 40 41 42 43 44 >>>  
Title 4, Chapter 6, Section 42 (4-6-42)

(a) No person shall operate a sales establishment for the sale of livestock at auction unless he has then in force a bond in an amount calculated as follows:

(1) If the annual sales of the establishment are $2,600,000.00 or less, the amount of the bond shall be one fifty-second of the amount of annual sales but not less than $10,000.00; or

(2) If the annual sales of the establishment are more than $2,600,000.00, the amount of the bond shall be $50,000.00 plus one fifty-second of the amount of annual sales in excess of $2,600,000.00 times a factor of 0.20.

(b) An amount calculated under subsection (a) of this Code section, if not a multiple of $5,000.00, shall be rounded to nearest higher multiple of $5,000.00.

Defined terms referenced in this section:
Sunday May 24 20:20 EDT


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