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Iowa Code Title I. State Sovereignty and Management [Chs. 1-38D] § 10.12. Multiple interests restricted--penalties

Current as of January 01, 2024 | Updated by Findlaw Staff

1. A civil penalty of not more than one thousand dollars may be imposed on a person who becomes one of the following:

a. A stockholder of a networking farmers corporation as prohibited in section 10.4.

b. A member of a networking farmers limited liability company as prohibited in section 10.6.

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.

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Cite this article: FindLaw.com - Iowa Code Title I. State Sovereignty and Management [Chs. 1-38D] § 10.12. Multiple interests restricted--penalties - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-i-state-sovereignty-and-management-chs-1-38d/ia-code-sect-10-12/

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