Neb. Rev. Stat. §§ 88-526

Current with changes through the 2024 First Special Legislative Session

Section 88-526 - Terms, defined

As used in the Grain Warehouse Act, unless the context otherwise requires:

(1) Commission means the Public Service Commission;

(2) Direct delivery grain means all grain that is bought, sold, or transported in the name of a warehouse licensee, other than grain that is received at the licensed warehouse facilities;

(3) Direct delivery obligation means the obligation of a warehouse licensee or grain dealer to transfer title to warehouse-owned grain to a producer by an in-store transfer upon the delivery of direct delivery grain. A direct delivery obligation is treated as a grain dealer obligation until such time as it is satisfied by an in-store transfer;

(4)

(a) Grain means wheat, corn, oats, soybeans, barley, rye, flax, or sorghum which has not been processed or packaged for the purpose of distribution as seed, including, but not limited to, edible beans, whole corn plant pellets, alfalfa pellets, millet, sunflower seed, safflower seed, and any other bulk pelleted agricultural storable commodity.

(b) Grain includes all commodities described in subdivision (4)(a) of this section whether grown and marketed as fungible commodities or grown and marketed within segregated marketing channels, including, but not limited to, certified organic commodities;

(5) Grain dealer has the same meaning as in section 75-902;

(6) Grain in storage means any grain which has been received at any warehouse and to which title has not been transferred to the warehouse operator by signed contract or priced scale ticket;

(7) In-store transfer means a method by which a warehouse licensee transfers title to warehouse-owned grain to any person in satisfaction of a direct delivery obligation between the warehouse licensee or grain dealer and the producer, and the grain remains in the warehouse;

(8) Post-direct delivery storage position means a storage position acquired through an in-store transfer in satisfaction of a direct delivery obligation;

(9) Warehouse means any grain elevator, mill, grist mill, building, or receptacle in which grain is held in storage for more than ten consecutive days;

(10) Warehouse licensee means any warehouse operator who is licensed pursuant to the Grain Warehouse Act; and

(11) Warehouse operator means any person, partnership, limited liability company, corporation, or association who (a) receives grain for storage or stores or offers to store grain for legal consideration for another person, partnership, limited liability company, corporation, or association in a warehouse where delivered or (b) receives grain for shipment to other points for storage, consignment, or resale either in or out of this state.

Neb. Rev. Stat. §§ 88-526

Laws 1987, LB 164, § 2; Laws 1993, LB 121, § 563; Laws 2003, LB 735, § 8; Laws 2005, LB 439, § 4; Laws 2024, LB 262, § 42.

Amended by Laws 2024, LB 262,§ 42, eff. 7/19/2024.