; or (2) within 15 business days after the date on which the seller receives notice that the payment instrument promptly presented for payment has been dishonored. (c) Notice to lien holders When a dealer receives notice under subsection (b) of the unpaid cash seller’s intent to preserve the benefits of the trust, the dealer shall, within 15 business days, give notice to all persons who have recorded a security interest in, or lien on, the livestock held in such trust. (d) Cash Sales Defined For the purpose of this section, a cash sale means a sale in which the seller does not expressly extend credit to the buyer. (e) Purchase of livestock subject to trust (1) In general A person purchasing livestock subject to a dealer trust shall receive good title to the livestock if the person receives the livestock— (A) in exchange for payment of new value; and (B) in good faith without notice that the transfer is a breach of trust. (2) Dishonored payment instrument Payment shall not be considered to have been made if a payment instrument given in exchange for the livestock is dishonored. (3) Transfer in satisfaction of antecedent debt A transfer of livestock subject to a dealer trust is not for value if the transfer is in satisfaction of an antecedent debt or to a secured party pursuant to a security agreement. (f) Enforcement Whenever the Secretary has reason to believe that a dealer subject to this section has failed to perform the duties required by this section or whenever the Secretary has reason to believe that it will be in the best interest of unpaid cash sellers, the Secretary shall do one or more of the following— (1) appoint an independent trustee to carry out the duties required by this section, preserve trust assets, and enforce the trust; (2) serve as independent trustee, preserve trust assets, and enforce the trust