[Federal Register Volume 62, Number 49 (Thursday, March 13, 1997)]
[Rules and Regulations]
[Pages 11758-11759]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-6263]


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DEPARTMENT OF AGRICULTURE
Grain Inspection, Packers and Stockyards Administration

9 CFR Part 201


Regulations Issued Under the Packers and Stockyards Act

AGENCY: Grain Inspection, Packers and Stockyards Administration, USDA.


[[Page 11759]]


ACTION: Correcting amendment.

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SUMMARY: This document contains corrections to a final regulation which 
was published July 10, 1996 (61 FR 36277). The regulation provides for 
maintenance of a bond equivalent in lieu of a required surety bond by 
packers, market agencies or dealers.

DATES: March 13, 1997.

FOR FURTHER INFORMATION CONTACT: Sharon Vassiliades, GIPSA, USDA, 1400 
Independence Avenue, SW, Washington, D.C. 20250, (202) 720-1738.

SUPPLEMENTARY INFORMATION:

Background

    The final regulation that is the subject of this correction revised 
the introductory paragraph of Sec. 201.27(b) applicable to packers, 
market agencies, and dealers subject to the Packers and Stockyards Act 
(7 U.S.C. 181, et seq.) and became effective on August 9, 1996.

Need for Correction

    As published, the final regulation inadvertently omitted language 
which was set forth in the proposed rulemaking published August 21, 
1995 (60 FR 43411). Language in the final regulation may be confusing 
and is in need of clarification.

List of Subjects in 9 CFR Part 201

    Bonding, Dealer, Market agency, Packer, Registration.

PART 201--REGULATIONS UNDER THE PACKERS AND STOCKYARDS ACT

    Accordingly, 9 CFR 201.27(b) is corrected by making the following 
correcting amendment:
    1. The authority citation for Part 201 continues to read as 
follows:

    Authority: 7 U.S.C. 204, 228; 7 CFR 2.17(e), 2.56.

    2. In Sec. 201.27, paragraph (b) is revised to read as follows:


Sec. 201.27  Underwriter: equivalent in lieu of bonds; standard forms.

* * * * *
    (b) Any packer, market agency, or dealer required to maintain a 
surety bond under these regulations may elect to maintain, in whole or 
partial substitution for such surety bond, a bond equivalent as 
provided below. The total amount of any such surety bond, equivalent, 
or combination thereof, must be the total amount of the surety bond 
otherwise required under these regulations. Any such bond equivalent 
must be in the form of:
    (1) * * *
* * * * *
    Done at Washington, D.C. this 7th day of March 1997.
James R. Baker,
 Administrator, Grain Inspection, Packers and Stockyards 
Administration.
[FR Doc. 97-6263 Filed 3-12-97; 8:45 am]
BILLING CODE 3410-EN-P