With harvest season soon to get underway, the Nebraska Public Service Commission (PSC) reminds producers of the need to familiarize themselves with Nebraska Grain Laws.
“Understanding the law and how it affects producers/sellers is key to protecting assets,” said Terri Fritz, PSC Grain Department Director.
Under the Grain Dealer Act if a producer/seller wants to ensure their transactions with a licensed grain dealer are covered by the grain dealer’s security posted with the PSC, they must demand payment within 15 days of completion of their contract with the dealer. Producers/sellers who choose not to demand payment withing 15 days after completion of their contract will be unsecured creditors of that dealer and forfeit any protection from the grain dealer’s security.
Director Fritz said, “It the responsibility of the producer/seller to demand payment within a set timeframe to ensure they are covered.”
Grain Warehouse operators are also reminded by the PSC of the Emergency Storage Policy. In order to store grain on the ground, an Emergency Storage application form, must be filed with, and approved by the PSC.
A list of licensed Grain Dealers, along with the PSC Emergency Storage 2024 memo and Emergency Storage application form can be found on the Grain Department page of the
PSC website. ###