Nebraska has amended the definition of “farm products” for statutes that govern security interests on farm products. For the first time, the list of farm products now includes goats and hemp. Really, goats are just now being added? The Secretary of State has published a revised Nebraska Effective Financing Statement (Form EFS-1) that includes goats and hemp, which is in effect now. Effective Financing Statements constitute written notice of a creditor’s secured interest and are effective once they are published on the State’s Master Lien List. The list is published on the Secretary of State’s website on the fifth of each month. To be included on the list, an Effective Financing Statement must be filed before the last business day of the month and cannot be filed on a weekend or state holiday.
This blog was authored by Lamson Dugan & Murray Attorney, Gina Schneider