Iowa § 199.16 Permit holder’s bond

Iowa Statutes

§ 199.16 — Permit holder’s bond

Iowa § 199.16

Title VAGRICULTURE

Ch. 199AGRICULTURAL SEEDS

This text of Iowa § 199.16 (Permit holder’s bond) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 199.16 (2026).

Text

It is unlawful for the permit holder to enter into a contract with a grower who purchases
agricultural seed in which the permit holder agrees to repurchase the seed crop produced
from the purchased seed at a price in excess of the current market price, unless the permit
holder has on file with the department a bond, in a penal sum of twenty-five thousand dollars
running to the state of Iowa, with sureties approved by the secretary, for the use and benefit
of a person holding a repurchase contract who might have a cause of action of any nature
arising from the purchase or contract. However, the aggregate liability of the surety to all
purchasers of seed holding repurchase contracts shall not exceed the sum of the bond.

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It is unlawful for the permit holder to enter into a contract with a grower who purchases
agricultural seed in which the permit holder agrees to repurchase the seed crop produced
from the purchased seed at a price in excess of the current market price, unless the permit
holder has on file with the department a bond, in a penal sum of twenty-five thousand dollars
running to the state of Iowa, with sureties approved by the secretary, for the use and benefit
of a person holding a repurchase contract who might have a cause of action of any nature
arising from the purchase or contract. However, the aggregate liability of the surety to all
purchasers of seed holding repurchase contracts shall not exceed the sum of the bond.