SENATE BILL NO. 428
AS AMENDED BY SENATE AMENDMENT NO. 1 AND HOUSE AMENDMENT NO. 1
AN ACT TO AMEND PART 3, ARTICLE 9, TITLE 6 OF THE DELAWARE CODE RELATING TO SECURED TRANSACTIONS IN THE PURCHASE OF GRAIN CROPS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend §307(2), Title 6 of the Delaware Code by adding thereto a new subsection designated as (d) to read as follows:
"(d) Notwithstanding any provisions of this subsection to the contrary, any grain buyer registered in accordance with subsection (a) who purchases any grain crop subject to a security interest in good faith and is without knowledge of the existence of a security interest therein because of fraud, misrepresentation or concealment as to ownership of the grain crop, such grain buyer shall not be subject to the security interest, but shall be subject to the interests of the true owner in the event of an unauthorized sale."
Approved July 17, 1984.