(1) Each licensed market or livestock video auction shall keep and maintain a complete and accurate record of all animals purchased and sold, including description of the animal, name of person selling or offering for sale, date of sale, and the name of the person to whom sold. Licensed markets shall also record any brand or brands carried.

(2) Each licensed market or livestock video auction shall keep and maintain business records showing the following information:            

(a) The names of the owners or persons having an interest in the market or livestock video auction.

(b) The names of the managers or operators of the market or livestock video auction.

(c) The names of the owners of the premises upon which the market is located if different than the owners of the licensed market; if a corporation, the names of the directors, officers, and the stockholders, showing their interest in the corporation.

(d) Any contracts or leases executed in connection with the operation of the market or livestock video auction.

(e) The type of organization used in operating the market or livestock video auction and the members thereof.

(f) If a corporation, the names of the directors, officers, and the stockholders, showing their interest in the corporation.

(3) Records and information must be available for inspection and examination by any authorized agent of the Department of Livestock, Brands Enforcement Division and must be submitted by the licensee upon request. All records used in the purchase and sale of livestock and all records required by this rule must be kept and maintained by the licensed market or livestock video auction for a period of not less than 5 years.