§3. Records of transactions; statements of sales; commissions
Every commission merchant shall keep complete records of all his transactions as such, including all brokerage transactions, full account of all purchases made for or on account of any person, and records of all consignments received, sales made, consignments refused, consignments claimed to be damaged, short, or inferior, with reason for the refusal or claim. He shall make statements, signed and numbered in duplicate, showing all sales made, quantity, and price paid, and he shall furnish to the consignor one copy of the statement or account of sale which shall include the name of the purchaser, his postoffice and street address, immediately upon delivery to the purchaser of the goods sold and the other copy shall be kept on file in the office of the commission merchant. He shall not charge or deduct commissions on consignment on any amount except the amount paid by the purchaser of the consigned goods, which commission shall not exceed ten per centum, except in the case of shrimps where the commission shall not exceed five per centum, and when he has sufficient reasons to refuse a consignment, or claims it seriously damaged or short, he shall immediately communicate with the consignor, stating his reasons.
Amended by Acts 1952, No. 347, §1.