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7 U.S.C. § 221 — Accounts and records of business; punishment for failure to keep

submitted 105 years ago by ch. 64 to r/title-7-AGRICULTURE · 132 words · no verdicts yet

in plain englishAI-generated · not legal advice

Packers, swine contractors, live poultry dealers, stockyard owners, market agencies, and dealers must keep full and accurate business records, including who truly owns the business. If the Secretary finds those records inadequate, the Secretary can dictate how they must be kept, and ignoring that order brings a fine of up to $5,000, up to three years in prison, or both.

Every packer, swine contractor, live poultry dealer, stockyard owner, market agency, and dealer must keep accounts, records, and memoranda that fully and correctly show every transaction in their business — including who truly owns the business, whether through stock ownership or otherwise. If the Secretary finds that someone's accounts, records, and memoranda don't fully and correctly show all their business transactions, the Secretary can prescribe the manner and form those records must take going forward. Anyone who then fails to keep their accounts, records, and memoranda in the manner or form the Secretary prescribed or approved can, on conviction, be fined up to $5,000, imprisoned up to three years, or both.
the actual law source: uscode.house.gov ↗public domain

Every packer, any swine contractor, and any live poultry dealer, stockyard owner, market agency, and dealer 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. Whenever the Secretary finds that the accounts, records, and memoranda of any such person do not fully and correctly disclose all transactions involved in his business, the Secretary may prescribe the manner and form in which such accounts, records, and memoranda shall be kept, and thereafter any such person who fails to keep such accounts, records, and memoranda in the manner and form prescribed or approved by the Secretary shall upon conviction be fined not more than $5,000, or imprisoned not more than three years, or both.

Source credit: (Aug. 15, 1921, ch. 64, title IV, § 401, 42 Stat. 168; Aug. 15, 1921, ch. 64, title V, § 503, as added Aug. 14, 1935, ch. 532, 49 Stat. 649; Pub. L. 100–173, § 6, Nov. 23, 1987, 101 Stat. 918; Pub. L. 107–171, title X, § 10502(b)(2)(C), May 13, 2002, 116 Stat. 510.)

history & why it existsrecord from the source credit
  • 1921Enacted · Act of Aug. 15, 1921, ch. 64 · 42 Stat. 168
  • 1921Amended · Act of Aug. 15, 1921, ch. 64 · 49 Stat. 649
  • 1987Amended · Pub. L. 100-173 · 101 Stat. 918
  • 2002Amended · Pub. L. 107-171 · 116 Stat. 510

A history note hasn’t been published yet. The record shows enactment by ch. 64 on 1921-08-15.

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