This text of Iowa § 579B.4 (Perfecting the lien — filing requirements — priority) 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.
1.A commodity production contract lien becomes effective and is perfected as follows:
a.For a lien arising out of producing livestock or raw milk, the lien becomes effective the
day that the livestock first arrives at the contract livestock facility. In order to perfect the lien,
the contract producer must file a financing statement in the office of the secretary of state as
provided in section 554.9308. Unless the production contract provides for continuous arrival,
the contract producer must file the financing statement for the livestock within forty-five
days after the livestock’s arrival. If the production contract provides for continuous arrival,
the contract producer must file the financing statement for the livestock within one hundred
eighty days after the livestock’s arrival. Th
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1. A commodity production contract lien becomes effective and is perfected as follows:
a. For a lien arising out of producing livestock or raw milk, the lien becomes effective the
day that the livestock first arrives at the contract livestock facility. In order to perfect the lien,
the contract producer must file a financing statement in the office of the secretary of state as
provided in section 554.9308. Unless the production contract provides for continuous arrival,
the contract producer must file the financing statement for the livestock within forty-five
days after the livestock’s arrival. If the production contract provides for continuous arrival,
the contract producer must file the financing statement for the livestock within one hundred
eighty days after the livestock’s arrival. The lien terminates one year after the livestock is no
longer under the authority of the contract producer. For purposes of this section, livestock is
no longer under the authority of the contract producer when the livestock leaves the contract
livestock facility. Section 554.9515 shall not apply to a financing statement perfecting the
lien. The lien may be terminated by the contract producer who files a termination statement
as provided in chapter 554, article 9.
b. For a lien arising out of producing a crop, the lien becomes effective the day that the
crop is first planted. In order to perfect the lien, the contract producer must file a financing
statement in the office of the secretary of state as provided in section 554.9308. The contract
producer must file a financing statement for the crop within forty-five days after the crop is
first planted. The lien terminates one year after the crop is no longer under the authority of
the contract producer. For purposes of this section, a crop is no longer under the authority of
the contract producer when the crop or a warehouse receipt issued by a warehouse operator
licensed under chapter 203C for grain from the crop is no longer under the custody or control
of the contract producer. The lien may be terminated by the contract producer who files a
termination statement as provided in chapter 554, article 9.
2. The financing statement shall substantially meet the requirements of section 554.9502,
subsection 1, and include all applicable information described in section 554.9516.
3. Filing a financing statement as provided in this section satisfies all requirements for
perfection of an agricultural lien as provided in chapter 554, article 9.
4. a. (1) A commodity production contract lien that is perfected under this section
is superior to and shall have priority over a conflicting lien or security interest in the
commodity, including a lien or security interest that was perfected prior to the perfection of
the commodity production contract lien under this chapter.
(2) Notwithstanding subparagraph (1), a commodity production contract lien shall not
be superior to a court-ordered lien provided in section 717.4 or a veterinarian’s lien created
under chapter 581, if such lien is perfected as an agricultural lien.
b. A commodity production contract lien that is effective but not perfected under this
section has priority as provided in section 554.9322.