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Bill97th CongressFiled Jun 15, 1981Finance and Financial Sector
S. 1365

A bill to amend the Bankruptcy Act regarding farm produce storage facilities, and for other purposes.

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What it doesSummary passed senate amended (Sep 22, 1981)

(Measure passed Senate, amended)

Amends the Bankruptcy Reform Act of 1978 to require the bankruptcy court, in the case of a bankruptcy petition filed by, or with respect to, a person engaged in the business of operating a farm produce storage facility (other than a retail grocery business operation), within specified time and monetary limits, to: (1) identify those farm producers who have produce in storage, and those parties which have secured interests in farm produce, within such facility; (2) audit the assets of the farm produce storage facility for the purpose of determining the extent of farm produce available for distribution to such producers and secured creditors; and (3) direct the abandonment of such farm produce according to procedures set forth by this Act.

Declares that such procedures shall be applied by the court solely for the purpose of effectuating abandonment of farm produce which is not property of the estate, or is of inconsequential value to the estate, and shall not be construed to limit the right of any party to seek abandonment of any other property.

Prohibits distribution of farm produce ordered abandoned by the court from being delayed due to the pendency of any appeal from the orders of abandonment, except that a stay of orders may be entered under specified conditions. Makes any such stay of orders appealable as of right by any aggrieved party.

Grants to any farmer who, having delivered agricultural products to a licensed warehouseman upon a contract for sale and who has not received the agreed upon payment, a lien against products or like products in the licensed facility in excess of that required to satisfy receipted or other storage obligations, title to which may be then vested in such warehouseman, to the extent of the payment agreed upon for the purchase of the product sold. Attaches such lien at the time of the formation of the contract for sale and continues it until the obligations of the warehouseman to the seller of the products are satisfied, but not for more than 60 days.

Limits to $2,000 and 180 days a farm producer's priority as a general unsecured creditor in such a bankruptcy proceeding.

What just happenedMar 11, 1982

Subcommittee Hearings Held.

Who’s behind it

Sen. Dole, Robert J. [R-KS](R-KS)Sponsor
13 cosponsors4 D9 R
Read on Congress.gov
13cosponsors2committees18actions2amendments5related bills9subjects
  1. Mar 11, 1982CommitteeH21000

    Subcommittee Hearings Held.

    Administrative State, Regulatory Reform, and Antitrust Subcommittee
  2. Mar 10, 1982CommitteeH21000

    Subcommittee Hearings Held.

    Administrative State, Regulatory Reform, and Antitrust Subcommittee
  3. Sep 29, 1981CommitteeH11000

    Referred to Subcommittee on Monopolies and Commercial Law.

    Administrative State, Regulatory Reform, and Antitrust Subcommittee
  4. Sep 25, 1981IntroReferralH11100

    Referred to House Committee on The Judiciary.

    Judiciary Committee
  5. Sep 22, 1981Floor

    Passed Senate with an amendment by Voice Vote.

  6. Sep 22, 1981Floor17000

    Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.

  7. Sep 22, 1981Floor

    Considered by Senate.

  8. Jul 27, 1981Calendars

    Placed on Senate Legislative Calendar under Regular Orders. Calendar No. 233.

  9. Jul 27, 1981Committee

    Committee on Judiciary. Reported to Senate by Senator Dole favorably without amendment. With written report No. 97-168.

    Judiciary Committee
  10. Jul 27, 1981Committee14000

    Committee on Judiciary. Reported to Senate by Senator Dole favorably without amendment. With written report No. 97-168.

    Judiciary Committee
  11. Jul 25, 1981Committee

    Committee on Judiciary received executive comment from Agriculture Department.

    Judiciary Committee
  12. Jun 25, 1981Committee

    Committee on Judiciary incorporated provisions of related measures S. 839 in reported measure.

    Judiciary Committee
  13. Jun 25, 1981Committee

    Committee on Judiciary. Ordered to be reported without amendment favorably.

    Judiciary Committee
  14. Jun 22, 1981Committee

    Subcommittee on Courts. Measure without amendments to full committee.

    Human Rights and the Law Subcommittee
  15. Jun 17, 1981Committee

    Committee on Judiciary requested executive comment from Agriculture Department.

    Judiciary Committee
  16. Jun 15, 1981Committee

    Referred to Subcommittee on Courts.

    Human Rights and the Law Subcommittee
  17. Jun 15, 1981IntroReferral

    Read second time and referred to Senate Committee on Judiciary.

    Judiciary Committee
  18. Jun 15, 1981IntroReferral10000

    Introduced in Senate

Passed Senate amendedSep 22, 198135
(Measure passed Senate, amended)

Amends the Bankruptcy Reform Act of 1978 to require the bankruptcy court, in the case of a bankruptcy petition filed by, or with respect to, a person engaged in the business of operating a farm produce storage facility (other than a retail grocery business operation), within specified time and monetary limits, to: (1) identify those farm producers who have produce in storage, and those parties which have secured interests in farm produce, within such facility; (2) audit the assets of the farm produce storage facility for the purpose of determining the extent of farm produce available for distribution to such producers and secured creditors; and (3) direct the abandonment of such farm produce according to procedures set forth by this Act.

Declares that such procedures shall be applied by the court solely for the purpose of effectuating abandonment of farm produce which is not property of the estate, or is of inconsequential value to the estate, and shall not be construed to limit the right of any party to seek abandonment of any other property.

Prohibits distribution of farm produce ordered abandoned by the court from being delayed due to the pendency of any appeal from the orders of abandonment, except that a stay of orders may be entered under specified conditions. Makes any such stay of orders appealable as of right by any aggrieved party.

Grants to any farmer who, having delivered agricultural products to a licensed warehouseman upon a contract for sale and who has not received the agreed upon payment, a lien against products or like products in the licensed facility in excess of that required to satisfy receipted or other storage obligations, title to which may be then vested in such warehouseman, to the extent of the payment agreed upon for the purchase of the product sold. Attaches such lien at the time of the formation of the contract for sale and continues it until the obligations of the warehouseman to the seller of the products are satisfied, but not for more than 60 days.

Limits to $2,000 and 180 days a farm producer's priority as a general unsecured creditor in such a bankruptcy proceeding.

Introduced in SenateJun 15, 198100

Amends the Bankruptcy Reform Act of 1978 to require the bankruptcy court, in the case of a bankruptcy petition filed by, or with respect to, a person engaged in the business of operating a farm produce storage facility, within specified time limits, to: (1) identify those farm producers who have produce in storage, and those parties which have secured interests in farm produce, within such facility; (2) audit the assets of the farm produce storage facility for the purpose of determining the extent of farm produce available for distribution to such producers and secured creditors; and (3) direct the abandonment of such farm produce according to procedures set forth by this Act.

Declares that such procedures shall be applied by the court solely for the purpose of effectuating abandonment of farm produce which is not property of the estate, or is of inconsequential value to the estate, and shall not be construed to limit the right of any party to seek abandonment of any other property.

Prohibits distribution of farm produce ordered abandoned by the court from being delayed due to the pendency of any appeal from the orders of abandonment, except that a stay of orders may be entered under specified conditions. Makes any such stay of orders appealable as of right by any aggrieved party.

Grants to any farmer who, having delivered agricultural products to a licensed warehouseman upon a contract for sale and who has not received the agreed upon payment, a lien against products or like products in the licensed facility in excess of that required to satisfy receipted or other storage obligations, title to which may be then vested in such warehouseman, to the extent of the payment agreed upon for the purchase of the product sold. Attaches such lien at the time of the formation of the contract for sale and continues it until the obligations of the warehouseman to the seller of the products are satisfied.

A bill to amend the Bankruptcy Act regarding farm produce storage facilities, and for othe… — Informed