Section 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 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.Neb. Rev. Stat. §§ 75-905
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; Laws 2015, LB 183, § 4.Amended by Laws 2015, LB 183,§ 4, eff. 8/30/2015.