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:: Grain Warehouse Department |
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Grain Warehouse Division
Licensed Warehouses
State law requires that any person, partnership, corporation, limited liability company or association in the state who receives grain for storage, shipment, or both, must obtain a license for that purpose, except warehouses licensed under the U.S. Warehouse Act. A corporate surety bond, irrevocable letter of credit, certificate of deposit or US Government Securities, in an amount based on the capacity of the licensed facility(ies), must be filed with the Commission, along with proof of adequate insurance coverage against loss of grain in storage. The minimum security filing is $25,000 and the maximum $500,000. All licensed warehouses are inspected at least once every twelve months to assure compliance with the law and Commission regulations. The first step in applying for a grain warehouse license, whether planning to operate a new warehouse or acquiring an existing operation, is to send a letter to the Commission advising of (a) the exact name and fiscal year end of the entity applying for license, (b) the location of the storage facilities, (c) the effective date by which the license must be granted (if known), and (d) if the facilities are presently licensed, whether or not grain storage obligations will be assumed as a part of the transaction. A corporation must be registered with the Secretary of State's Office to conduct business in Nebraska. The next step is for our office to schedule an examination to establish the bushel capacity and determine eligibility for license. After the storage capacity is determined, we will send the forms and information required for obtaining a license. If storage obligations are to be assumed, we will also line up a date to measure the grain inventory and document the obligations of the warehouse operation. Each applicant must submit to a criminal background check by providing fingerprint cards to the Nebraska State Patrol. No license will be issued if the background check reveals a conviction for a felony financial crime. Please contact our office, if you have any questions regarding the above information. New Priority Lien Upon the Commission's closure of a warehouse and taking title to grain pursuant to Section 002.18, grain seized pursuant to Section 002.18, including grain owned by the warehouse licensee, is subject to a first priority lien in favor of valid owners, depositors, or storers of grain who are holders of evidence of ownership of grain. The lien created under this section shall be preferred to any lien or security interest in favor of any creditor of the warehouse licensee regardless of the time when the creditor's lien or security interest attached to the grain. Notice of the first priority lien referred to herein need not be filed in order to perfect the lien. All the grain in the warehouse, whether stored or not, first shall be applied at all times to the satisfaction of all valid owners, depositors, or storers of grain who hold evidence of ownership of grain. Warehouse Department to Conduct Audits for Soybean Promotion and Research Checkoff (SPARC) Soybean Audits Storage and Handling Rates |
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