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Current as of January 01, 2024 | Updated by Findlaw Staff
(1) No seller shall have recourse to the grain dealer's security unless the seller:
(a) Demands payment from the grain dealer within fifteen days after the date of the last shipment of any contract;
(b) Negotiates any negotiable instrument issued as payment for grain by the grain dealer within fifteen days after its issuance; and
(c) Notifies the commission within fifteen days after any apparent loss to be covered under the terms of the grain dealer's security.
(2) The grain dealer's security shall provide security for direct delivery grain until any post-direct delivery storage position is created for a period not to exceed fifteen days after the date of the last shipment of the contract.
Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 75. Public Service Commission § 75-905. Recourse to grain dealer's security; when - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-75-public-service-commission/ne-rev-st-sect-75-905/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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