. 40-15-1. Livestock auction agency—Definition--Exceptions. Any person operating The term, livestock auction agency, as used in this chapter, means a place of business where at which livestock are is bought and sold through public auction, including livestock buying stations not buying and selling through public auction, is a livestock auction agency, except any. It does not include: (1) Any place or operation where at which future farmers or, 4-H groups or, fair associations, or private fairs conduct sales of livestock, any; (2) Any place or operation conducted for at which there is a dispersal sale of the livestock of belonging to a farmer, dairyman, livestock breeder, or feeder, who is discontinuing said business and, if no other livestock is sold or offered for sale, and any; (3) Any place of operation where at which a breeder or an association of livestock breeders of livestock assemble and, offer for sale, and sell livestock under their own management any livestock; or (4) Any person who engages in the business of buying or selling livestock, on a commission or other fee basis, using online, video, or other electronic methods, in accordance with the Packers and Stockyards Act, 1921, as amended, 7 U.S.C. § 182, et seq.