FOR IMMEDIATE RELEASE
PSC TEMPORARILY SUSPENDS KANSAS COMPANY
GRAIN DEALER LICENSE
Lincoln, Tuesday, June 13, 2023- The Nebraska Public Service
Commission (PSC) issued an Order (GDC-454/GD-3032) temporarily
suspending the grain dealer license of Norag LLC, Stilwell, Kansas.
The temporary license suspension follows the filing of a second PSC
grain department complaint against Norag LLC, alleging the grain
dealer is in violation of Title 291 Neb. Admin. Code, Chapter 8, §
003.03 for failing to meet and maintain a minimum of allowable net
worth of $10,000 and Title 291 Neb. Admin. Code, Chapter 8, §
003.01 for failing to maintain suitable working capital.
“Every effort has been made to bring this grain dealer into
compliance,” said Commission Chair Dan Watermeier. “The company
has failed to take the necessary action needed, leaving us no choice,
but to suspend its license.”
The grain department filed its first complaint against the Kansas
grain dealer on May 12, after the company failed to file its year-end
financial statement for the 2022 fiscal year with the Commission as
required by law. The Commission received the required documents
May 19, and a stipulated agreement was worked out with the
company dismissing the first complaint. A subsequent review by the
Commission of the financial statement filed by Norag LLC,
determined the company did not meet the statutory requirements
needed to hold a grain dealer license in Nebraska.
Commissioner Watermeier said, “The Commission feels it is in the
public interest to suspend this grain dealers’ license. We would
encourage Nebraska producers/sellers who are currently doing
business with this company to review any contracts they may hold
with them."
The Order temporarily suspending the grain dealer license of Norag
LLC, of Stilwell, Kansas takes effect immediately. A hearing on the
suspension will be set at a later date. ###
Contact:
Deb Collins- Communications & Media Mgr.
(402) 471-0226 / deb.collins@nebraska.gov
