Sec. 98. (a) "Stockyards" means a place, an establishment, or a facility conducted, operated, or managed for profit or not for profit as a public market in which livestock is assembled for purchase or sale at competitive bidding, or purchase by the persons operating the stockyards.
(b) The term includes concentration points where livestock is assembled for redistribution or resale by means other than competitive bidding.
(c) The term does not include livestock auction markets.