Iowa § 203C.14 Suit — claims — notice of revocation

Iowa Statutes

§ 203C.14 — Suit — claims — notice of revocation

Iowa § 203C.14

Title VAGRICULTURE

Ch. 203CWAREHOUSES FOR AGRICULTURAL PRODUCTS

This text of Iowa § 203C.14 (Suit — claims — notice of revocation) 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 § 203C.14 (2026).

Text

1.A person injured by the breach of an obligation of a warehouse operator, for the performance of which a bond on agricultural products other than bulk grain, a deficiency bond, or an irrevocable letter of credit has been given under any of the provisions of this chapter, may sue on the bond on agricultural products other than bulk grain, deficiency bond, or irrevocable letter of credit in the person’s own name in a court of competent jurisdiction to recover any damages the person has sustained by reason of the breach.

2.

a.Uponthecessationofawarehouseoperator’slicenseduetorevocation,cancellation, orexpiration,aclaimagainstthewarehouseoperatorarisingunderthischaptershallbemade in writing with the warehouse operator, with the issuer of a bond on agricultural products other than bulk grain

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1. A person injured by the breach of an obligation of a warehouse operator, for the
performance of which a bond on agricultural products other than bulk grain, a deficiency
bond, or an irrevocable letter of credit has been given under any of the provisions of this
chapter, may sue on the bond on agricultural products other than bulk grain, deficiency
bond, or irrevocable letter of credit in the person’s own name in a court of competent
jurisdiction to recover any damages the person has sustained by reason of the breach.
2. a. Uponthecessationofawarehouseoperator’slicenseduetorevocation,cancellation,
orexpiration,aclaimagainstthewarehouseoperatorarisingunderthischaptershallbemade
in writing with the warehouse operator, with the issuer of a bond on agricultural products
other than bulk grain, a deficiency bond, or an irrevocable letter of credit, and, if the claim
relates to bulk grain, with the department. The claim must be made within one hundred
twenty days after the cessation of the license. The failure to make a timely claim relieves the
issuer and, if the claim relates to bulk grain, the grain depositors and sellers indemnity fund
provided in chapter 203D of all obligations to the claimant.
b. Upon revocation of a warehouse license, the department shall cause notice of the
revocation to be published once each week for two consecutive weeks in a newspaper
of general circulation in each of the counties in which the licensee maintains a business
13 WAREHOUSES FOR AGRICULTURAL PRODUCTS, §203C.15
location and in a newspaper of general circulation within the state. The notice shall state the
name and address of the warehouse operator and the effective date of revocation. The notice
shall also state that any claims against the warehouse operator shall be made in writing
and sent by ordinary mail to the warehouse operator, to the issuer of a bond on agricultural
products other than bulk grain, deficiency bond, or an irrevocable letter of credit, and to the
department within one hundred twenty days after revocation, and the notice shall state that
the failure to make a timely claim does not relieve the warehouse operator from liability to
the claimant.
c. This subsection does not apply if a receiver is appointed as provided in this chapter
pursuant to a petition which is filed by the department prior to the expiration of one hundred
twenty days after cessation of warehouse operator’s license.