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  <TITLE> Lincolnway Energy, LLC (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	June 7, 2006
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  	Lincolnway Energy, LLC
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Iowa
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  	000-51764
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  	20-1118105
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	59511 W Lincoln Highway, Nevada, Iowa
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  	&nbsp;
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  	50201
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	515-382-8899
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 1.01 Entry into a Material Definitive Agreement.
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  The board of Lincolnway Energy approved the offer and sale of up to 100 membership units of Lincolnway Energy to each of the nine directors of Lincolnway Energy, at a purchase price of $1,000 per membership unit, at a board meeting held on June 12, 2006.  See listing of director purchased membership units in Exhibit 1.01.<br><br>The board of Lincolnway Energy approved a director fee of $1,000 per month at a board meeting held on June 7, 2006.  A director must attend at least 75% of all director meetings in order to receive the fee.  A director may attend a meeting in person, by phone or any other method provided in Lincolnway Energy's governing documents.  The director fee was made retroactively effective as of April 1, 2006.  The board also approved an annual fee of $20,000 for the chairman of Lincolnway Energy, and an annual fee of $10,500 for each of the vice president, secretary and treasurer of Lincolnway Energy.  The officer fee is payable quarterly, and was made retroactively effective as of April 1, 2006.  William Couser is the chairman of Lincolnway Energy, Jeff Taylor is the vice president, Timothy Fevold is the secretary, and Terrill Wycoff is the treasurer.<br>
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  	Item 3.02 Unregistered Sales of Equity Securities.
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   <br><br>Lincolnway Energy sold 810 membership units on June 12, 2006 at a purchase price of $1,000 per unit, for an aggregate of $810,000, and without any underwriting discounts or commissions.  The units were sold to the nine directors of Lincolnway Energy in a transaction not involving any public offering pursuant to Section 4(2) of the Securities Act of 1933 and Rule 506 of Regulation D, with all of the directors being accredited investors for purposes of Rule 506 by virtue of their status as directors.<br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Lincolnway Energy, LLC
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  	&nbsp;&nbsp;
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  <I>
  	June 15, 2006
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  	&nbsp;
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  <I>
  	By:
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  <I>
  	Richard Brehm
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  	&nbsp;
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  <I>
  	Name: Richard Brehm
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  <I>
  	Title: President and Chief Executive Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	1.01
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  	&nbsp;
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  Purchased director membership units
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_13206.htm", "description": "LIVE FILING", "secsgml_size_bytes": 11335}]
metadata_filer: {"company-data": {"conformed-name": "Lincolnway Energy, LLC", "cik": "0001350420", "assigned-sic": "2860", "irs-number": "201118105", "state-of-incorporation": "IA", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51764", "film-number": "06907622"}, "business-address": {"street1": "59511 W. LINCOLN HIGHWAY", "city": "NEVADA", "state": "IA", "zip": "50201", "phone": "515-203-0847"}, "mail-address": {"street1": "59511 W. LINCOLN HIGHWAY", "city": "NEVADA", "state": "IA", "zip": "50201"}}
text: Lincolnway Energy, LLC (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  June 7, 2006
  Lincolnway Energy, LLC
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Iowa
  000-51764
  20-1118105
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  59511 W Lincoln Highway, Nevada, Iowa
  50201
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  515-382-8899
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  The board of Lincolnway Energy approved the offer and sale of up to 100 membership units of Lincolnway Energy to each of the nine directors of Lincolnway Energy, at a purchase price of $1,000 per membership unit, at a board meeting held on June 12, 2006.  See listing of director purchased membership units in Exhibit 1.01.
  The board of Lincolnway Energy approved a director fee of $1,000 per month at a board meeting held on June 7, 2006.  A director must attend at least 75% of all director meetings in order to receive the fee.  A director may attend a meeting in person, by phone or any other method provided in Lincolnway Energy's governing documents.  The director fee was made retroactively effective as of April 1, 2006.  The board also approved an annual fee of $20,000 for the chairman of Lincolnway Energy, and an annual fee of $10,500 for each of the vice president, secretary and treasurer of Lincolnway Energy.  The officer fee is payable quarterly, and was made retroactively effective as of April 1, 2006.  William Couser is the chairman of Lincolnway Energy, Jeff Taylor is the vice president, Timothy Fevold is the secretary, and Terrill Wycoff is the treasurer.
  Item 3.02 Unregistered Sales of Equity Securities.
  Lincolnway Energy sold 810 membership units on June 12, 2006 at a purchase price of $1,000 per unit, for an aggregate of $810,000, and without any underwriting discounts or commissions.  The units were sold to the nine directors of Lincolnway Energy in a transaction not involving any public offering pursuant to Section 4(2) of the Securities Act of 1933 and Rule 506 of Regulation D, with all of the directors being accredited investors for purposes of Rule 506 by virtue of their status as directors.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Lincolnway Energy, LLC
  June 15, 2006
  By:
  Richard Brehm
  Name: Richard Brehm
  Title: President and Chief Executive Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  1.01
  Purchased director membership units