Associated Press, Published October 07 2010
ND Democratoc PSC hopeful Brad Crabtree wants stronger grain insuranceBISMARCK (AP) — North Dakota's Democratic candidate for the state Public Service Commission says the Legislature needs to strengthen a fund that protects farmers if a grain elevator goes broke.
Brad Crabtree says the credit indemnity fund needs to be larger than $6 million. Crabtree says in recent years at least 10 grain elevators have had at least $10 million in potential claims on the fund.
The fund covers farmers who sell grain to elevators and delay taking payment for more than 30 days. It used to have a $10 million cap, but the Legislature lowered it to $6 million three years ago.
Crabtree is running against incumbent Republican Kevin Cramer.
Copyright 2010 The Associated Press.