During the first two years following the current brand ownership period, only the previous owner may apply for a brand canceled under § 40-19-13. If the brand is recordable, the previous owner may register the brand by paying the registration fee and a two hundred dollar rerecord fee. If the brand was registered before cancellation, the brand is recordable and the previous owner may register the brand by paying the registration fee and a two hundred dollar rerecord fee. During the two years following the current brand ownership period, it is not a violation of § 40-19-21:
(1) If the previous owner sells livestock bearing the canceled brand; or
(2) If the previous owner brands livestock with the canceled brand before becoming aware of the cancellation.