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Senate File 2201

Partial Bill History

Bill Text

PAG LIN
  1  1                                         SENATE FILE 2201     
  1  2 
  1  3                             AN ACT
  1  4 RELATING TO SECURITY FOR DAMAGES ARISING FROM THE ABANDON-
  1  5    MENT OF NATURAL GAS PIPELINES.  
  1  6 
  1  7 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  1  8 
  1  9    Section 1.  Section 479A.12, Code 1997, is amended to read
  1 10 as follows:
  1 11    479A.12  FINANCIAL CONDITION OF COMPANY – BOND OR OTHER
  1 12 SECURITY.
  1 13    Before construction is begun by a pipeline company, the
  1 14 company shall satisfy the board that the company has property
  1 15 subject to execution within this state other than pipelines,
  1 16 of a value in excess of two hundred fifty thousand dollars, or
  1 17 the company must file and maintain with the board a surety
  1 18 bond in the penal sum of two hundred fifty thousand dollars
  1 19 with surety approved by the board, conditioned that the
  1 20 company will pay any and all damages legally recovered against
  1 21 it growing out of the construction, abandonment, or operation
  1 22 of its pipeline and underground storage facilities in this
  1 23 state, or the company shall deposit with the board security
  1 24 satisfactory to the board as a guaranty for the payment of
  1 25 that amount of damages, or furnish to the board satisfactory
  1 26 proofs of its solvency and financial ability to pay that
  1 27 amount of damages.  
  1 28 
  1 29 
  1 30                                                             
  1 31                               MARY E. KRAMER
  1 32                               President of the Senate
  1 33 
  1 34 
  1 35                                                             
  2  1                               RON J. CORBETT
  2  2                               Speaker of the House
  2  3 
  2  4    I hereby certify that this bill originated in the Senate and
  2  5 is known as Senate File 2201, Seventy-seventh General Assembly.
  2  6 
  2  7 
  2  8                                                             
  2  9                               MARY PAT GUNDERSON
  2 10                               Secretary of the Senate
  2 11 Approved                , 1998
  2 12 
  2 13 
  2 14                         
  2 15 TERRY E. BRANSTAD
  2 16 Governor
     

Text: SF02200                           Text: SF02202
Text: SF02200 - SF02299                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

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