Text: HF00627 Text: HF00629 Text: HF00600 - HF00699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 HOUSE FILE 628 1 2 1 3 AN ACT 1 4 RELATING TO THE REGULATION OF GRAIN DEALERS BY 1 5 PROVIDING AN EXCEPTION FOR LIMITED LIABILITY COMPANIES 1 6 THAT PRODUCE RENEWABLE FUEL. 1 7 1 8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 1 9 1 10 Section 1. Section 203.1, subsection 8, paragraph j, Code 1 11 2001, is amended to read as follows: 1 12 j. A cooperativecorporationorganized under chapter 501, 1 13 if the cooperativebuysonly purchases grain from its members 1 14 who are producerswho are membersor from a licensed grain 1 15 dealer, and the cooperative does not resell that grain. 1 16 Sec. 2. Section 203.1, subsection 8, Code 2001, is amended 1 17 by adding the following new paragraph: 1 18 NEW PARAGRAPH. k. A limited liability company as defined 1 19 in section 490A.102 that meets all of the following 1 20 requirements: 1 21 (1) The majority of voting rights in the limited liability 1 22 company are held by its members who are producers. 1 23 (2) The purpose of the limited liability company is to 1 24 produce renewable fuel as defined in section 159A.2. 1 25 (3) The limited liability company only purchases grain 1 26 from its members who are producers or from a licensed grain 1 27 dealer. 1 28 (4) The limited liability company does not resell grain 1 29 that it purchases. 1 30 1 31 1 32 1 33 BRENT SIEGRIST 1 34 Speaker of the House 1 35 2 1 2 2 2 3 MARY E. KRAMER 2 4 President of the Senate 2 5 2 6 I hereby certify that this bill originated in the House and 2 7 is known as House File 628, Seventy-ninth General Assembly. 2 8 2 9 2 10 2 11 MARGARET THOMSON 2 12 Chief Clerk of the House 2 13 Approved , 2001 2 14 2 15 2 16 2 17 THOMAS J. VILSACK 2 18 Governor
Text: HF00627 Text: HF00629 Text: HF00600 - HF00699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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