[Code of Federal Regulations]

[Title 9, Volume 2]

[Revised as of January 1, 2007]

From the U.S. Government Printing Office via GPO Access

[CITE: 9CFR203.4]



[Page 49-50]

 

                  TITLE 9--ANIMALS AND ANIMAL PRODUCTS

 

  CHAPTER II--GRAIN INSPECTION, PACKERS AND STOCKYARDS ADMINISTRATION 

      (PACKERS AND STOCKYARDS PROGRAMS), DEPARTMENT OF AGRICULTURE

 

PART 203_STATEMENTS OF GENERAL POLICY UNDER THE PACKERS

AND STOCKYARDS ACT--Table of Contents

 

Sec. 203.4  Statement with respect to the disposition of records by packers, live poultry dealers, stockyard owners, market agencies and dealers.



    (a) Records to be kept. Section 401 of the Packers and Stockyards 

Act (7 U.S.C. 221) provides, in part, that every packer, 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. In order to properly 

administer the P&S Act, it is necessary that records be retained for 

such periods of time as may be required to permit the



[[Page 50]]



Grain Inspection, Packers and Stockyards Administration (Packers and 

Stockyards Programs) a reasonable opportunity to examine such records. 

Section 401 of the Act does not, however, provide for the destruction or 

disposal of records. Therefore, the Grain Inspection, Packers and 

Stockyards Administration (Packers and Stockyards Programs) has 

formulated this policy statement to provide guidance as to the periods 

of time after which records may be disposed of or destroyed.

    (b) Records may be disposed of after two years except as otherwise 

provided. Except as provided in paragraph (c) of this section, each 

packer, live poultry dealer, stockyard owner, market agency, and dealer 

may destroy or dispose of accounts, records, and memoranda which 

contain, explain, or modify transactions in its business subject to the 

Act after such accounts, records, and memoranda have been retained for a 

period of two full years; Provided, That the following records made or 

kept by a packer may be disposed of after one year: cutting tests; 

departmental transfers; buyers' estimates; drive sheets; scale tickets 

received from others; inventory and products in storage; receiving 

records; trial balances; departmental overhead or expense 

recapitulations; bank statements, reconciliations and deposit slips; 

production or sale tonnage reports (including recapitulations and 

summaries of routes, branches, plants, etc.); buying or selling pricing 

instructions and price lists; correspondence; telegrams; teletype 

communications and memoranda relating to matters other than contracts, 

agreements, purchase or sales invoices, or claims or credit memoranda; 

and Provided further, That microfilm copies of records may be 

substituted for and retained in lieu of the actual records.

    (c) Retention for longer periods may be required. The periods 

specified in paragraph (b) of this section shall be extended if the 

packer, live poultry dealer, stockyard owner, market agency, or dealer 

is notified in writing by the Administrator that specified records 

should be retained for a longer period pending the completion of any 

investigation or proceedings under the Act.

    (d) Unauthorized disposal of records. If it is found that any person 

subject to the Act has disposed of accounts, records, and memoranda 

which are necessary to fully and correctly disclose all transactions in 

its business prior to the periods specified in this statement, 

consideration will be given to the issuance of a complaint charging a 

violation of section 401 of the Act and seeking an appropriate order. 

The administrative proceeding initiated will be conducted in accordance 

with the Rules of Practice Governing Formal Adjudicatory Proceedings 

Instituted by the Secretary (7 CFR 1.130 et seq.).



(Approved by the Office of Management and Budget under control number 

0580-0015)



(7 U.S.C. 228, 7 U.S.C. 222, and 15 U.S.C. 46)



[49 FR 6085, Feb. 17, 1984, as amended at 54 FR 16357, Apr. 24, 1989; 68 

FR 75388, Dec. 31, 2003]