Sec. 40. (a) "Immediate slaughter" means any animal purchased or sold for:
(1) immediate slaughter; or
(2) slaughter and will be slaughtered by the purchaser not later than seven (7) days after purchase or will be consigned to an establishment or to a properly licensed market facility for reconsignment to a slaughtering establishment not later than seven (7) days after acquiring the animal.
(b) The term does not include an animal that is diverted for any other purpose or use besides immediate slaughter.