Iowa Code § 10.12
This is the official text of Iowa Code § 10.12, part of Iowa’s Code — part of the compiled statutory law of Iowa, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Multiple interests restricted — penalties.
Official statutory text
(1) A civil penalty of not more than one thousand dollars may be imposed on a person who becomes one of the following:
(1) (a) A stockholder of a networking farmers corporation as prohibited in section 10.4.
(1) (b) A member of a networking farmers limited liability company as prohibited in section 10.6.
(1) (c) A member of a farmers cooperative association as prohibited in section 10.8.
(2) The person violating the section shall divest the interest held by the person in a farmers entity or authorized entity as is necessary to comply with this chapter, as provided in section 10.13.
98 Acts, ch 1110, §112, 301
(1) (a) A stockholder of a networking farmers corporation as prohibited in section 10.4.
(1) (b) A member of a networking farmers limited liability company as prohibited in section 10.6.
(1) (c) A member of a farmers cooperative association as prohibited in section 10.8.
(2) The person violating the section shall divest the interest held by the person in a farmers entity or authorized entity as is necessary to comply with this chapter, as provided in section 10.13.
98 Acts, ch 1110, §112, 301
Status: in_force · Read it on the official government site
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