There Is a Newer Version of the Nebraska Revised Statutes
  1. 2023 Nebraska Rev. Stat.
  2. 2022 Nebraska Rev. Stat.
  3. 2021 Nebraska Rev. Stat.
  4. 2012 Nebraska Rev. Stat. (here)
  5. View All Versions
View Our Newest Version Here

2012 Nebraska Revised Statutes
Chapter 75 - PUBLIC SERVICE COMMISSION
75-905 - Recourse to grain dealer's security; when.


NE Code § 75-905 (2012) What's This?
75-905. Recourse to grain dealer's security; when.

(1) No seller shall have recourse to the grain dealer's security unless the seller:

(a) Demands payment from the grain dealer within thirty 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 thirty days after its issuance; and

(c) Notifies the commission within thirty 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 thirty days after the date of the last shipment of the contract.

Source
    Laws 1985, LB 389, § 7;
    Laws 1986, LB 1007, § 4;
    Laws 1996, LB 1123, § 3;
    Laws 2005, LB 52, § 3;
    Laws 2005, LB 439, § 3.

Annotations
Grain sellers claims on grain dealer's bond denied because claims were not filed with the Public Service Commission within 10 days of apparent loss. Fecht v. Quality Processing, 244 Neb. 522, 508 N.W.2d 236 (1993).

A buyer's failure to give the seller a proper receipt as required by section 75-904 does not render null and void the time requirements of this section to preserve a claim against the buyer's security pursuant to section 75-906. Fecht v. The Bunnell Co., 243 Neb. 1, 497 N.W.2d 50 (1993).

Disclaimer: These codes may not be the most recent version. Nebraska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.