Publications: Finance and Credit

Blockchain and Bitcoin Basics: Applicability to Agriculture

Carol Goforth University of Arkansas School of Law

This article, part of the NALC “Considering Carbon” series, introduces the concepts of blockchain and cryptoassets, as well as providing working definitions for each.  This understanding of the fundamentals of an emerging technology is essential in order to understand the risks and potential rewards that might be associated with blockchain and cryptoassets. Download this article. Posted:  Aug. 11, 2021

Creating and Using Cryptoassets: Regulatory Implications

Carol Goforth University of Arkansas School of Law

This article, part of the NALC “Considering Carbon” series, considers practical and legal issues in connection with the potential creation and/or use of cryptoassets, including a review of how they are regulated (with a particular focus on U.S. law).  It first analyzes basic issues in deciding to create a new cryptoasset. This involves a look at practical considerations rather than legal issues that may be associated with a decision to issue a new form of cryptoasset. It also considers whether the Securities and Exchange Commissions (the SEC) is likely to treat a particular cryptoasset as a security, and in very general terms what that means. Download this article. Posted:  Aug. 11, 2021

Blockchain Initiatives and Operations Focusing on Agriculture

Carol Goforth University of Arkansas School of Law

This article, part of the NALC “Considering Carbon” series, briefly examines some of the numerous current blockchain initiatives and applications focused on agriculture, including those relevant to financing, supply chain, commercial viability or energy use.  It is designed to provide resources for individuals or organizations operating in the agricultural sector interested in these particular potential applications.  Download this article. Posted:  Aug. 11, 2021

Financing the Farm: A Law Bulletin Series on Legal Arrangements for Farm Financing

Peggy Kirk Hall, Associate Professor- Agricultural and Resource Law Program; Ohio State University Extension
Evin Bachelor, Law Fellow- Agricultural and Resource Law Program; Ohio State University Extension

New farmers are exposed to a number of different finance and credit instruments when they start to build their farm businesses. Fortunately, this allows them access to capital for purchasing land, equipment, livestock, inputs and supplies. Unfortunately, lenders do not always explain the legal components and implications of these documents to a beginning farmer. This series provides new and beginning farmers with an overview of the most commonly used documents in agricultural finance. Each law bulletin covers a different type of financial agreement, and explains basic terminology, fundamental legal requirements, and how the arrangement is used in farming operations.

Financing the Farm: Series Overview
Financing the Farm: Installment Contracts
Financing the Farm: Leasing Arrangements
Financing the Farm: Mortgages
Financing the Farm: Promissory Notes
Financing the Farm: Secured Transactions
Financing the Farm: Statutory Liens
Financing the Farm: Personal Guarantees
Financing the Farm: Operating Loans

Download combined factsheets Posted 10/16/19, Last updated 4/28/21

Updated Statutory Agricultural Lien Charts

Elizabeth Springsteen Staff Attorney and

Jennifer Fiser Research Associate National Agricultural Law Center

State statutory liens on agricultural products, equipment and production inputs are nonconsensual interests. The liens arise by operation of law, without the consent of the lien debtor, when the specific requirements of the statutes creating the lien are met. These liens may be scattered throughout a state’s code. Moreover, statutory provisions as to filing and priority of these liens may vary greatly among the states, and even within a single state. These Statutory Agricultural Lien Charts, originally published in 1993 and thoroughly reviewed and updated in 2009, compile and tabulate the main provisions of statutory agricultural liens in all fifty states.       Download this article. Posted: March 4, 2009.

Rabobank Offer to Purchase FCS of America

Doug O’Brien Senior Staff Attorney The National AgLaw Center

This article considers the legal facets of the Farm Credit Services of America resolution to terminate its status as a Farm Credit System Institution so that it could become a wholly owned subsidiary of Rabobank. Specifically, the article examines the possibility of approval of such a termination application by the Farm Credit Administration and the stockholders of Farm Credit Services of America.    Download this article. Posted:  Oct. 18, 2004

The Enforcement of Money Judgments Across Indian Reservation Boundaries

Robert Laurence Professor University of Arkansas School of Law

In the rural areas of the American West, many conflicts arise that must be settled in either tribal or state court.  As with judgments everywhere, some are not paid voluntarily, and the judgment creditor must use coercive enforcement to collect the debt.  When the judgment is enforceable against property that lies within the jurisdiction that issued the judgment, then that jurisdiction’s body of enforcement law must be used.  But when enforcement must be sought in another jurisdiction, complicated problems of cross-boundary comity and respect arise.  When one of the jurisdictions is a tribal court and one is a state court, the issues become complex and involve an intricate mix of tribal, state and federal law.  The purpose of this article is to introduce those unfamiliar with the field of American Indian law to this mix and to the various and conflicting approaches that courts and commentators have taken to the problem, with special attention given to problems that might affect the farming community.   Download this article. Posted: July 24, 2002.

Statutory Agricultural Liens Under Revised Article 9 of the Uniform Commercial Code

Susan A. Schneider Associate Professor and Director Graduate Program in Agricultural Law University of Arkansas School of Law

It has been said that Revised Article 9 of the Uniform Commercial Code was designed to bring greater certainty to financing transactions, thus reducing the overall cost of credit.  This broad goal is to be accomplished by expanding the scope of Article 9 and clarifying the rules governing security interests.  One specific example of this expansion is the inclusion of agricultural statutory liens, including agricultural landlord’s liens, within Revised Article 9.   Download this article. Posted: July 31, 2002.