Livestock Marketing Reform Act

[AI summary unavailable — showing source text] Livestock Marketing Reform Act - Title I: General Provisions and Definitions - Declares that it is in the public interest to apply open, free, and competitive factors to purchases and sales of livestock in commerce. Defines terms used in this Act. Title II: Livestock Marketing Commission - Establishes the Livestock Marketing Commission to be composed of three commissioners appointed by the President with the advice and consent of the Senate. Empowers the Commission to prevent persons or organizations subject to this Act or combinations of persons and organizations, as defined herein, from engaging in transactions or practices, or both transactions and practices, which are declared unlawful, unfair, or illegal by this Act. Title III: Advisory Board - Directs the Commission to establish an Advisory Board to advise and consult with the Commission on questions affecting the livestock industry and the exercise of the Commission's functions. Title IV: Jurisdiction - Places jurisdiction over violations of the provisions of this Act under the district courts of the United States. Empowers the Commission to investigate suspected violations of the provisions of this Act. Grants the Commissio…