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House Amendment 1288

Amendment Text

PAG LIN
  1  1    Amend House File 706 as follows:
  1  2    #1.  By striking page 5, line 32, through page 7,
  1  3 line 17, and inserting the following:
  1  4    "Sec. ___.  Section 9H.5, subsection 3, paragraph
  1  5 a, Code 1997, is amended to read as follows:
  1  6    3.  a.  An authorized farm corporation, authorized
  1  7 trust, authorized limited liability company, or
  1  8 limited partnership entity or a network entity
  1  9 violating this section shall be assessed a civil
  1 10 penalty of not more than twenty-five thousand dollars
  1 11 and shall divest itself of any land held in violation
  1 12 of this section within one year after judgment.  A
  1 13 civil penalty of not more than one thousand dollars
  1 14 may be imposed on a person who becomes a stockholder
  1 15 of holds an interest in an authorized farm
  1 16 corporation, beneficiary of an authorized trust,
  1 17 member of an authorized limited liability company, or
  1 18 limited partner in a limited partnership in violation
  1 19 of this section entity or a network entity.  The
  1 20 person shall divest the interest held by the person in
  1 21 the corporation, trust, limited liability company, or
  1 22 limited partnership authorized entity or network
  1 23 entity required to comply with this section.  The
  1 24 court may determine the method of divesting an
  1 25 interest held by a person found to be in violation of
  1 26 this chapter.  A financial gain realized by a person
  1 27 who disposes of an interest held in violation of this
  1 28 chapter shall be forfeited to the state's general
  1 29 fund.  All court costs and fees shall be paid by the
  1 30 person holding the interest in violation of this
  1 31 chapter." 
  1 32 
  1 33 
  1 34                               
  1 35 DREES of Carroll
  1 36 HF 706.203 77
  1 37 da/jj/28
     

Text: H01287                            Text: H01289
Text: H01200 - H01299                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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