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The Indiana Grain Buyers and Warehouse Licensing Agency (IGBWLA) was created in 1975 after the collapse of a large commercial grain operation, which resulted in Indiana farmers not being paid for grain stored. As a result of this incident, Indiana created IGBWLA, whose responsibilities include the periodic auditing of commercial grain operations to ensure their assets are sufficient to pay farmers for their grain.
The IGBWLA’s mission is to ensure the financial integrity of the grain marketing infrastructure, while allowing the industry to be competitive, innovative and efficient. The agency has oversight of approximately 270 licensees that own more than 450 facilities. These facilities have at least a 600-million bushel storage capacity and are strong partners to each community’s grain farmers.
The following information pertains to Cline Grain Inc: