ODA suspends grain handling operations at United Equity

The following is a press release from the Ohio Department of Agriculture.

The Ohio Department of Agriculture (ODA) has suspended grain handling operations at United Equity, Inc., located at 104 S. Main St., Delphos, Ohio, with branch locations in Spencerville and Celina, after a department audit confirmed a financial shortfall. The company’s grain handler’s license has been suspended to prevent more outstanding obligations from being incurred and to facilitate a possible remedy via the Grain Indemnity Fund.

If you believe you have outstanding grain obligations with United Equity, Inc. and have questions, please call ODA at 614-728-6410. Ohio’s Grain Indemnity Fund was created in 1983 to reimburse farmers when a licensed handler becomes insolvent. Claims to the indemnity fund are handled through ODA’s Grain Feed & Seed Section in conjunction with the recommendation of the Ohio Commodity Advisory Commission.

Ohio Revised Code gives priority to the automatic lien established and held by the department for the benefit of farmers in the event of a grain handler’s failure or insolvency. The department’s liens will now have priority over all competing lien claims asserted against the handler, ensuring that the indemnity fund receives maximum reimbursement in the asset liquidation process.