A bill to provide that a buyer in the ordinary course of business who buys farm products from a person engaged in farming operations shall own such goods free of any security interest in such goods created by his seller even though the security interest is perfected in accordance with applicable State law and even though the buyer knows of its existence.
Farm Products Buyers' Protection Act of 1983 - Provides that a buyer in the ordinary course of business who buys farm products (livestock and commodities) from a person engaged in farming operations shall own such goods free of any security interest in such goods even though the security interest is perfected in accordance with applicable State law and even though the buyer knows of its existence.
Introduced in House
Introduced in House
Referred to House Committee on Agriculture.
Referred to Subcommittee on Livestock, Dairy, and Poultry.
Subcommittee Hearings Held.
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