Senate File 235 - Introduced





                                       SENATE FILE       
                                       BY  HANCOCK

                                       (COMPANION TO LSB 2315HH
                                        BY MAREK)


    Passed Senate, Date               Passed House,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act providing for the powers and duties of the Iowa soybean
  2    association's board of directors.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 2315SS 83
  5 da/rj/5

PAG LIN



  1  1    Section 1.  Section 185.13, subsection 2, Code 2009, is
  1  2 amended to read as follows:
  1  3    2.  Acquire and establish offices, issue negotiable
  1  4 instruments, incur expenses, and enter into any contracts or
  1  5 agreements necessary to carry out the purposes of this
  1  6 chapter.
  1  7                           EXPLANATION
  1  8    This bill provides that the board of directors of the Iowa
  1  9 soybean association may issue negotiable instruments as part
  1 10 of its powers and duties under Code section 185.13.  A
  1 11 negotiable instrument is a specialized type of agreement for
  1 12 the payment of money which may include interest, and is
  1 13 payable on demand or at a definite time (Code section
  1 14 554.3104).
  1 15 LSB 2315SS 83
  1 16 da/rj/5