LB894

Nebraska LB894 amends the Grain Dealer Act and Grain Warehouse Act, redefining grain dealer and altering financial statement requirements.

Nebraska LB894 modifies the Grain Dealer Act and Grain Warehouse Act by redefining "grain dealer" to exclude certain entities and altering financial statement requirements for grain dealers. The bill specifies that grain dealers must include all direct delivery grain purchases in their security calculations but exclude transactions involving post-delivery storage positions created by in-store transfers. It also mandates that grain dealers file a reviewed or audited fiscal year-end financial statement prepared by an independent certified public accounting firm.