(a)
(1) Except as provided in subsection (e) of this section, every catfish processor in the state shall register with the State Plant Board.
(2) Applications for registration as a catfish processor under this chapter shall be made on forms prescribed by the Director of the State Plant Board.
(3) Every application is to be accompanied by an application fee of one hundred fifty dollars ($150), a certified financial statement in a form prescribed by the director, and any further information the director may by rule require.
(b) The board shall promulgate such rules as necessary to secure the performance of catfish purchasing obligations.
(c) Whenever, after due notice and hearing, the board finds any registrant is insolvent or has violated any provisions of this chapter, it may issue an order suspending the registrant for a reasonable specified period. The order of suspension shall take effect within five (5) days unless suspended, modified, or set aside by the board or a court of competent jurisdiction.
(d) If the board finds any processor is insolvent, is issuing invalid or insufficient checks, or is causing a breach of contract with the producer by failure to pay the producer in accordance with the contract, the board shall issue an order requiring the processor to cease and desist from purchasing catfish except under such conditions as the board may prescribe to effectuate the purposes of this chapter.
(e) Those processors whose average annual purchases from catfish producers do not exceed one hundred thousand dollars ($100,000) shall be exempt from the provisions of this section.