Any person who operates a drylot cattle feeding operation, within the confines of permanently fenced lots and within the ownership inspection area may apply to the board for designation as a registered feedlot. The board shall prescribe a form for this purpose. Upon receipt of an application and within thirty days, the board may grant a permit if the following requirements are satisfied:
(1) The operator's feedlot is a permanently fenced drylot;
(2) The operator commonly practices feeding cattle to finish for slaughter; and
(3) The operator brands all cattle carrying mixed brands, held under common ownership, with a registered brand or a feedlot assigned brand approved by the board.