(1) Each livestock market shall file with the Montana department of livestock, brands-enforcement division, an annual financial report reflecting a current statement of its assets and liabilities and a current statement of its annual income and expense at the time required for payment of its annual license fee. A copy of the annual report required to be filed by each such livestock market under the Packers and Stockyards Act is deemed sufficient for such purpose.

(2) Upon request by a specifically authorized agent of the Montana department of livestock, brands-enforcement division, each licensed market shall submit an accurate and current financial report on the operation of the market and of the current assets and liabilities of the licensed market.