Section 54-1163 - Hearing; determination; factors; issuance of licenseThe hearing required by section 54-1162 shall be heard by the director. If the director determines, after such hearing, that the proposed livestock auction market would beneficially serve the livestock economy, the department shall issue a market license to the applicant. In determining whether or not the application should be granted or denied, reasonable consideration shall be given to:
(1) The ability of the applicant to comply with the federal Packers and Stockyards Act, 1921, 7 U.S.C. 181 et seq., as amended;(2) The financial stability, business integrity, and fiduciary responsibility of the applicant;(3) The adequacy of the facilities described to permit the performance of market services proposed in the application;(4) The present needs for market services or additional services as expressed by livestock growers and feeders in the community; and(5) Whether the proposed livestock auction market would be permanent and continuous.Neb. Rev. Stat. §§ 54-1163
Laws 1963, c. 319, § 7, p. 965; Laws 1999, LB 778, § 66; Laws 2013, LB 78, § 4; Laws 2014, LB 884, § 25.Amended by Laws 2014, LB 884,§ 25, eff. 7/18/2014.