Sec. 4. (a) Licenses are issued under the following classifications:
(1) A market facility dealer license issued to livestock auction markets, stockyards, packers, or concentration points.
(2) An individual dealer license issued to individual dealers and market agencies not operating a market facility.
(b) A separate license is required for each location at which stockyards, packing plants, market agencies, or livestock auction markets are operated. More than one (1) license may not be required of individual dealers other than those operating as market agencies at different locations.
(c) A license issued under this chapter continues in effect until the licensee ceases operating as a livestock dealer in Indiana or the board revokes the license.
(d) The board may adopt rules to implement this chapter, including the following:
(1) Procedures for issuing, suspending, revoking, and updating licenses.
(2) Requiring annual or other regular reports from licensees to:
(A) determine the required amount of bond coverage under this chapter or the current status of agents or other personnel acting under the license; or
(B) update other information used in administering the requirements of this chapter.