CHAPTER 306

An Act to amend and reenact §§ 3.1-701 and 8.1-716 of Article 2, Chapter
26 of Title 8.1 of the Code of Virginia, relating to schedule of commis-
sions and charges to be filed and the keeping of records by commission
merchants.

[H 858]

Approved April 2, 1968

Be it enacted by the General Assembly of Virginia:
1. That §§ 3.1-701 and 3.1-716 of Article 2, Chapter 26 of Title 3.1 of the
Code of Virginia be amended and reenacted as follows:
~ § 8.1-701. Schedule of commissions and charges to be filed.—The
applicant shall file with the Commissioner at the time of furnishing the
bond a schedule of his maximum commissions and charges for service in
connection with the produce handled on account of or as agent for the
parties. * Such designated commissions and charges shall not be changed
or varied for one year thereafter, except by and through a written contract
and agreement between the commission merchant and the consignors of
farm products; provided, however, a person operating a livestock auction
market or stockyard which has been posted by the Secretary of Agriculture
of the United States and is being operated under and pursuant to the terms
and provisions of the Packers and Stockyards Act, 1921, (42 Stat. 159),
and the laws amendatory thereof, may change his schedule of maximum
commissions and charges if such changes are filed with the Secretary of
Agriculture of the United States and is approved. These changes also are
to be posted with the Commissioner of Agriculture and Commerce of
Virginia.

§ 3.1-716. Copies of records to be kept by commission merchant for
one hundred twenty days.—lIt shall also be the duty of every commis-
sion merchant to retain a copy of all records, including sales tags or tickets,
account of sales, other records covering each transaction, for a period
of one hundred and twenty days from the date thereof, which copy shall
at all times be available for, and open to, the confidential inspection of the
Commissioner, or his duly authorized agents, and the interested consignor,
or any authorized representative of either. If a person is operating a live-
stock auction market or stockyard which has been posted by the Secretary
of Agriculture of the United States, and is being operated under and pursu-
ant to the terms and provisions of the Packers and Stockyards Act, 1921,
(42 Stat. 159), and the laws amendatory thereof, this person shall be re-
quired to retain a copy of all records, including sales tags or tickets, account
of sales, and the other records covering each transaction, for a period of
two years from the date thereof, which copy shall at all times be available
for, and open to, the confidential inspection of the Commissioner, or his duly
authorized agents, and the interested consignor, or any authorized repre-
sentative of either.