,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #djeh  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,octob] #ab1 #bjag,mr4
 ,m>%all 7= himself1 ,mr4 ,r\z]1 ,mr4   
,com]1 ,mr4 ,"y ( ,i[a1 ,mrs4 ,h>tzl]1  
,mr4 ,smi? ( ,miss\ri1 ,mr4 ,k+ ( ,i[a1 
,mr4 ,?ompson ( ,p5nsylvania1 ,mr4      
,yoho1 ,mr4 ,co/a1 ,mrs4 ,bu/os1 ,ms4   
,sewell ( ,alabama1 ,mr4 ,soto1 ,mr4    
,arr+ton1 & ,mr4 ,lucas7 introduc$ !    
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,agriculture  ,a ,,bill   
,to am5d ! ,pack]s & ,/ocky>ds ,act1    
#aiba1 to provide = ! e/abli%m5t ( a    
tru/ = ! b5efit ( all unpaid ca% sell]s 
( live/ock1 & = o!r purposes4  #a4 ,%ort
 title ,?is ,act may be cit$ z ! ,secur+
 ,all ,live/ock ,equitably ,act ( #bjag 
or ! ,,sale ,act ( #bjag4  #b4          
,e/abli%m5t ( tru/ = b5efit ( unpaid ca%
 sell]s ( live/ock ,! ,pack]s &         
,/ocky>ds ,act1 #aiba1 is am5d$ by      
ins]t+ aft] section #cag 7#g ,u4,s4,c4  
#bag;a7 ! foll[+ new section3  #cah4    
,/atutory tru/ e/abli%$2 deal]  7a7     

,e/abli%m5t  7#a7 ,9 g5]al ,all live/ock
 pur*as$ by a deal] 9 ca% sales & all   
inv5tories (1 or receivables or proce$s 
f1 su* live/ock %all be held by ! deal] 
9 tru/ = ! b5efit ( all unpaid ca%      
sell]s ( su* live/ock until full paym5t 
has be5 receiv$ by su* unpaid ca%       
sell]s4  7#b7 ,exemption ,any deal] ^:  
av]age annual pur*ases ( live/ock d n   
exce$ #ejj1jjj %all be exempt f !       
provisions ( ?is section4  7#c7 ,effect 
( di%onor$ in/rum5ts ,= purposes (      
det]m9+ full paym5t "u p>agraph 7#a71 a 
paym5t to an unpaid ca% sell] %all n be 
consid]$ to h be5 made if ! unpaid ca%  
sell] receives a paym5t in/rum5t :i* is 
di%onor$4  7b7 ,en=cem5t ,if a deal]    
fails to p]=m ! duties requir$ by       
subsection 7a71 ! ,secret>y %all take   
su* action z is necess>y to en=ce !     
tru/4  7c7 ,pres]vation ( tru/ ,an      
unpaid ca% sell] %all lose ! b5efit ( a 
tru/ "u subsection 7a7 if ! unpaid ca%  
sell] has n pres]v$ ! tru/ by giv+      
writt5 notice to ! deal] involv$ & fil+ 

su* notice ) ! ,secret>y--  7#a7 )9 #cj 
days ( ! f9al date = mak+ a paym5t "u   
section #dji 9 ! ev5t t a paym5t        
in/rum5t has n be5 receiv$2 or  7#b7 )9 
#ae bus9ess days aft] ! date on :i* !   
sell] receives notice t ! paym5t        
in/rum5t promptly pres5t$ = paym5t has  
be5 di%onor$4  7d7 ,notice to li5 hold]s
 ,:5 a deal] receives notice "u         
subsection 7c7 ) respect to a tru/1 !   
deal] %all1 )9 #ae bus9ess days1 give   
notice to all p]sons :o h record$ a     
security int]e/ 91 or li5 on1 ! live/ock
 held 9 su* tru/4  7e7 ,ca% sales       
describ$ ,= ! purpose ( ?is section1 a  
ca% sale means a sale 9 :i* ! sell] does
 n expressly ext5d cr$it to ! buy]4  4