The Minnesota Department of Agriculture is seeking to set up an indemnity fund, but how much the Legislature approves for the fund will determine whether a fee on grain sales will be needed.
The Minnesota Department of Agriculture is asking for $5 million to set up an indemnity fund for grain elevators as a way to make sure farmers gets paid for grain sales should an elevator become insolvent, like the Ashby Farmers Elevator after its manager defrauded the co-op members.
DALTON, Minn. Jerome "Jerry" Hennessey, the former general manager of the Ashby (Minn.) Farmers Cooperative Elevator, has put his house up for sale for $795,000.