Livestock production input lien Sample Clauses

Livestock production input lien. Suppliers of livestock production inputs get a lien against the livestock they helped pro- duce.203 Livestock inputs include feed and labor used in raising the animals.204 The amount of the lien is the unpaid retail cost of the inputs provided.205 To preserve the lien, suppliers must file financing statements within six months after the last input was furnished.206 A livestock production input lien puts the creditor above other unsecured creditors and later secured creditors and in some cases may move the creditor ahead of already secured creditors.207 196 Minn. Stat. § 514.966, subd. 4. The livestock shoeing lien is now incorporated into the feeder’s lien. Minn. Stat. § 514.966, subd. 4(a). If the feeding of livestock is done under contract, the person may also get an agricultural producer’s lien which gives a lien for the contract price of the agricultural commodity. Minn. Stat. § 514.945. Agricultural producers’ liens are not covered by Revised Article 9, though Revised Article 9 enforcement rules are used. Minn. Stat. § 514.945, subd. 6. 197 Minn. Stat. § 514.966, subd. 6(e). 198 Minn. Stat. § 514.966, subd. 8(c). 199 Minn. Stat. § 514.966, subd. 8(d). 200 Minn. Stat. § 514.966, subd. 2. 201 Minn. Stat. § 514.966, subd. 6(c). 202 Minn. Stat. § 514.966, subd. 7(e). 203 Minn. Stat. § 514.966, subd. 3. 204 Minn. Stat. § 514.965, subd. 8. 205 Minn. Stat. § 514.966, subd. 3(a). 206 Minn. Stat. § 514.966, subd. 6(d). 207 Minn. Stat. § 514.966, subd. 3. Suppliers have the option of sending the secured creditors a lien noti- fication statement explaining that the supplier has a livestock input lien. The other creditors may ei- ther let the supplier keep the lien or instead promise to pay the supplier directly. Creditors ignoring the notice lose priority to the supplier. Minn. Stat. § 514.966, subd. 3(f). In Xxxxxxxxx Grain Co. x. Xxxxxxx, 563 N.W.2d 278 (Minn. Ct. App. 1997), a creditor with a prior perfected security interest in cattle retained priority over the grain company’s agricultural production lien (now a livestock pro- duction lien) after the creditor refused to issue a letter of commitment.
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