Title 7 — AgricultureRelease 119-73
§499i Accounts, records, and memoranda; duty of licensees to keep; contents; suspension of license for violation of duty
Title 7 › Chapter CHAPTER 20A— - PERISHABLE AGRICULTURAL COMMODITIES › § 499i
Summary
All commission merchants, dealers, and brokers must keep clear, complete records and notes that show all their business transactions and who really owns the business, including stockholders. If they fail to do this, the Secretary may make the facts public, suspend the person’s license for up to 90 days, or both.
Full Legal Text
Title 7, §499i
Agriculture — Source: USLM XML via OLRC
Every commission merchant, dealer, and broker shall keep such accounts, records, and memoranda as fully and correctly disclose all transactions involved in his business, including the true ownership of such business by stockholding or otherwise. If such accounts, records, and memoranda are not so kept, the Secretary may publish the facts and circumstances and/or, by order, suspend the license of the offender for a period not to exceed ninety days.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Section was formerly classified to section 559 of this title.
Reference
Citations & Metadata
Citation
7 U.S.C. § 499i
Title 7 — Agriculture
Last Updated
Apr 6, 2026
Release point: 119-73