House Journal: Page 992: Thursday, April 3, 2003
House File 617, a bill for an act requiring that dealers of certain
swine file a surety bond with the department of agriculture and land
stewardship, was taken up for consideration.
Greiner of Washington offered the following amendment H-1255
filed by her and moved its adoption:
H-1255
1 Amend House File 617 as follows:
2 1. Page 1, line 24, by striking the words "an
3 additional surety bond" and inserting the following:
4 "evidence of financial responsibility".
5 2. Page 1, line 25, by inserting before the word
6 "renewed" the following: "issued or".
7 3. Page 1, line 30, by inserting after the figure
8 "163.30." the following: "However, a dealer does not
9 include a person who operates a livestock market, as
10 defined in section 459.102."
11 4. Page 1, by inserting after line 34, the
12 following:
13 "___. "Financial institution" means a bank or
14 savings and loan association authorized by this state
15 or by the laws of the United States, which is a member
16 of the federal deposit insurance corporation or the
17 federal savings and loan insurance corporation."
18 5. Page 2, by inserting after line 3, the
19 following:
20 "___. "Sales agreement" means an oral or written
21 contract executed between a dealer and a purchaser for
22 the sale of feeder pigs."
23 6. By striking page 2, line 4, through page 3,
24 line 11, and inserting the following:
25 "Sec. ___. NEW SECTION. 202C.2 EVIDENCE OF
26 FINANCIAL RESPONSIBILITY - REQUIREMENTS.
27 1. A dealer shall provide the department with
28 evidence of financial responsibility as required by
29 the department. The evidence of financial
30 responsibility shall consist of a surety bond
31 furnished by a surety or an irrevocable letter of
32 credit issued by a financial institution.
33 2. The evidence of financial responsibility shall
34 be provided to the department before the dealer's
35 license is issued or renewed pursuant to section
36 163.30.
37 3. The amount of the evidence of financial
38 responsibility shall be established by rules which
39 shall be adopted by the department. Unless the
40 department otherwise has good cause, the rules shall
41 be based upon the volume of sales reported by the
© 2003 Cornell College and
League of Women Voters of Iowa
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