The Ohio Department of Agriculture has declared United Equity Inc. officially failed after completing a grain audit of the company’s locations in Delphos, Spencerville and Neptune, making the Ohio Grain Indemnity Fund available to farmers with eligible claims.
ODA grain program staff will meet with affected farmers Friday, Oct. 2, from 9 a.m. to 3 p.m. at United Equity’s facility at 104 S. Main St. in Delphos. Staff members will review documentation, help farmers file claims and answer questions about the process.
The state suspended the facility’s grain handler’s license on Sept. 10 after an initial inspection revealed a financial shortfall. The suspension aimed to prevent additional obligations from building up and to allow the indemnity fund to step in.
United Equity operates three locations across northwest Ohio. The company’s branch in Celina was also mentioned in earlier department actions regarding the license suspension.
Ohio created the Grain Indemnity Fund in 1983 to reimburse farmers when licensed handlers become insolvent. The ODA’s Grain Feed & Seed Section handles claims in conjunction with the Ohio Commodity Advisory Commission.
Under Ohio Revised Code, the department holds an automatic lien for farmers’ benefit when a grain handler fails or becomes insolvent. These liens take priority over other competing claims against the handler, which helps the indemnity fund recover maximum reimbursement during asset liquidation.
Farmers who have outstanding grain obligations with United Equity and need more information should call ODA at 614-728-6410.
The Friday meeting gives farmers a chance to get immediate assistance with their claims. Department officials encourage anyone who delivered grain to the affected facilities to attend or contact the department directly.
The failure affects operations at all three United Equity locations, which had been operating under a single grain handler’s license before the suspension took effect last month.
