S 3419
SALE Act of 2020
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Securing All Livestock Equitably Act of 2020 (SALE Act) aims to protect livestock sellers by requiring dealers to hold livestock purchased in cash sales within a trust until all unpaid sellers are fully paid. Small dealers with annual livestock purchases under $100,000 are exempt. The bill establishes procedures for preserving the trust, notifying lien holders, and ensuring that buyers receive clear title to livestock held in trust, preventing breaches of trust.
Sponsors
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Primary sponsor
James M. Inhofe
Cosponsors
Ben Sasse
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