Lincoln— The Nebraska Public Service Commission (PSC) issued an Order (GDC-454/GD-3032) temporarily suspending the grain dealer license of Norag LLC, Stillwell, 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 Stillwell, Kansas
takes effect immediately. A hearing on the suspension will be set at a later date.