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