Vermont Livestock Dealers and Packers Need Bond

vermont livestock dealers

Vermont House Bill 497 requires owners of livestock-related businesses, auctions and sales rings to post a bond in order to maintain their license. Pursuant to the new legislation, Vermont livestock dealers and packers have until July 1, 2017 to obtain a surety bond and a license.

What does it cost for Vermont livestock dealers to get a license?

In order to obtain a license from the Secretary of the Vermont Agency of Agriculture, Food and Markets, Vermont livestock dealers and packers must pay an application fee of $175. Livestock transporters must pay an application fee of $100.

Are there any other costs to get a license aside from the application fee?

Before being issued a license, applicants must obtain a surety bond of at least $10,000. The actual premium to be paid will be determined by an underwriter, however it will be a percentage of the bond amount that typically ranges from 1-10%. If an applicant forgoes the surety bond requirement, the Secretary may allow an alternate form of financial security in lieu of the surety bond.

Who is a livestock dealer and what is livestock under HB 497?

Anyone that travels from place to place using, selling, or transporting livestock is considered a livestock dealer under HB 497. The definition also applies to those operating a livestock auction or sales ring. Pursuant to the legislation, livestock is defined as cattle, horses, sheep, swine, goats, camelids, fallow deer, red deer, reindeer, and American bison.

What if an application is denied?

The Secretary may deny a bond application after providing notice and an opportunity for a hearing if the applicant has had a previous livestock dealer, packer, or transporter license suspended or revoked by any state or foreign country during the previous five years. The application may also be denied if the applicant has been convicted of violating any statutes, rules, or regulations regarding the sale or transportation of livestock or the control of livestock disease.

If an applicant is denied, a letter containing the reasons for denial will be sent to them by the Secretary. Within 15 days of receiving the denial, the applicant has the right to petition the Secretary in writing for reconsideration of his or her application.

Where do I get a surety bond?

If you are in need of a livestock dealer or packer bond, the experts at SuretyBonds.com are ready to help! Give us a call at 1 (800) 308-4358  or click below to get a free, no obligation quote.

Get a Free Surety Bond Quote

About the Author

Lindsey Jenkins
Lindsey Jenkins is a member of the marketing team at SuretyBonds.com. She writes about new legislation pertaining to the surety bond industry along with other surety bond news.