52-1403. Lien-notification statement; lender response.
113 words·~1 min read·
/ne/chapter-52/52-1403A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Within fifteen calendar days after receiving a lien-notification statement, the lender shall respond to the supplier with either:
(1)A letter of commitment for part or all of the amount in the lien-notification statement and, if the letter of commitment is for only part of the amount in the lien-notification statement, then a copy of the partial commitment shall be sent to the person to whom the agricultural production input was furnished or is to be furnished; or
(2)A written refusal to issue a letter of commitment, and a copy of such refusal shall be sent to the person to whom the agricultural production input was furnished or is to be furnished.