Statute 21 2950

21-2950. Marketing contract.(1) If a marketing contract provides for the sale of products, commodities, or goods to a limited cooperative association, the sale transfers title absolutely, except for security interests properly perfected, to the association upon delivery or at any other specific time expressly provided by the contract.(2) A marketing contract may:(a) Authorize a limited cooperative association to create an enforceable security interest in the products, commodities, or goods delivered; and(b) Allow the limited cooperative association to sell the products, commodities, or goods delivered and pay the sales price on a pooled or other basis after deducting selling costs, processing costs, overhead, expenses, and other charges.Source Laws 2007, LB368, § 50; Laws 2008, LB848, § 11.