House Journal: Page 1797: Wednesday, April 28, 1999

39   lien shall be on cash proceeds from the sale.  For

40   purposes of this subparagraph, cash held by the
41   contractor shall be deemed to be cash proceeds from
42   the sale regardless of whether it is identifiable cash
43   proceeds.
44     (c)  If the raw milk is processed by the
45   contractor, the lien shall be on any property of the
46   contractor that may be subject to a security interest
47   as provided in section 554.9102.
48     b.  The lien on livestock or raw milk is created at
49   the time the livestock arrives at the contract
50   livestock facility and continues for one year after
Page 8
 1   the livestock is no longer under the authority of the
 2   contract producer.  For purposes of this section,
 3   livestock is no longer under the authority of the
 4   contract producer when the livestock leaves the
 5   contract livestock facility.
 6     2.  a.  If the production contract is for the
 7   production of crops, all of the following shall apply:
 8     (1)  If the crop is not sold or processed by the
 9   contractor, the lien shall be on the crop.
10     (2)  If the crop is sold by the contractor, the
11   lien shall be on cash proceeds from the sale.  For
12   purposes of this subparagraph, cash held by the
13   contractor shall be deemed to be cash proceeds from
14   the sale regardless of whether it is identifiable cash
15   proceeds.
16     (3)  If the crop is processed by the contractor,
17   the lien shall be on any property of the contractor
18   that may be subject to a security interest as provided
19   in section 554.9102.
20     b.  The lien on a crop is created at the time the
21   crop is planted and continues for one year after the
22   crop is no longer under the authority of the contract
23   producer.  For purposes of this section, a crop is no
24   longer under the authority of the contract producer
25   when the crop or a warehouse receipt issued by a
26   warehouse operator licensed under chapter 203C for
27   grain from the crop is no longer under the custody or
28   control of the contract producer.
29     Sec. 16. NEW SECTION.  579B.4  PRESERVING THE LIEN
30   - FILING REQUIREMENTS.
31     1.  In order to preserve a lien created pursuant to
32   section 579B.3, a contract producer must file in the
33   office of the secretary of state a lien statement on a
34   form prescribed by the secretary of state.  If the
35   lien arises out of producing livestock or raw milk,
36   the contract producer must file the lien within forty-
37   five days after the day that the livestock first

© 1999 Cornell College and League of Women Voters of Iowa

Comments about this site or page? hjourn@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.

Last update: Thu Apr 29 13:40:03 CDT 1999
URL: /DOCS/GA/78GA/Session.1/HJournal/01700/01797.html
jhf