Iowa Code § 10.8
Multiple interests restricted
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2014
As of January 1, 2012
1. A person who holds an interest in a farmers cooperative association holding an interest in agricultural land pursuant to section 10.7 shall not hold an interest in another farmers entity if any of the following applies:
1. A person who holds an interest in a farmers cooperative association holding an interest in agricultural land pursuant to section 10.7 shall not hold an interest in another farmers entity if any of the following applies:
a. The person holds a twenty-five percent or greater interest in a farmers cooperative association having six or fewer members.
a. The person holds a twenty-five percent or greater interest in a farmers cooperative association having six or fewer members.
b. The person holds a fifteen percent or greater interest in a farmers cooperative association having seven or more members.
b. The person holds a fifteen percent or greater interest in a farmers cooperative association having seven or more members.
2. A person who holds a majority interest in an authorized entity shall not hold a majority interest in a farmers cooperative association.
2. A person who holds a majority interest in an authorized entity shall not hold a majority interest in a farmers cooperative association.
98 Acts, ch 1110, §108, 301
98 Acts, ch 1110, §108, 301
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.