HF 2889

as introduced - 86th Legislature (2009 - 2010) Posted on 02/10/2010 03:49pm

A bill for an act
relating to agriculture; allowing a temporary lien for livestock production inputs
for 30 days following a mediation request; amending Minnesota Statutes 2008,
section 514.966, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2008, section 514.966, is amended by adding a
subdivision to read:

new text begin Subd. 3a. new text end

new text begin Temporary livestock production input lien; debtor in mediation. new text end

new text begin (a)
A supplier furnishing livestock production inputs in the ordinary course of business to a
debtor who has filed a mediation request under chapter 583 has a livestock production
input lien for the unpaid retail cost of the livestock production input. A perfected livestock
production input lien that attaches to livestock may not exceed the amount, if any, that the
sales price of the livestock exceeds the greater of the fair market value of the livestock at
the time the lien attaches or the acquisition price of the livestock. A livestock production
input lien becomes effective when the agricultural production inputs are furnished by the
supplier to the purchaser.
new text end

new text begin (b) A livestock production input lien under this subdivision applies to livestock
production inputs provided that meet the needs of the debtor's livestock during the 30 days
following a mediation request under chapter 583.
new text end

new text begin (c) A person who supplies livestock production inputs under this subdivision is not
required to comply with subdivision 3, paragraphs (b) to (f).
new text end