Iowa Code 185.24 – Termination of a promotional order
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Terms Used In Iowa Code 185.24
- assessment: means an excise tax on each bushel of soybeans marketed in this state which is imposed pursuant to a promotional order as provided in this chapter. See Iowa Code 185.1
- Board: means the Iowa grain indemnity fund board created in section 203D. See Iowa Code 203D.1
- Board: means the Iowa soybean association board of directors established by this chapter. See Iowa Code 185.1
- Ex officio: Literally, by virtue of one's office.
- Promotional order: means an order administered pursuant to this chapter which establishes a program for the promotion, research, and market development of soybeans and provides for a state assessment to finance the program. See Iowa Code 185.1
- Secretary: means the secretary of agriculture. See Iowa Code 185.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
If a promotional order is not extended as determined by a referendum, the secretary and the board shall terminate the promotional order in an orderly manner as soon as practicable. After all moneys collected from the state assessment are expended, the board shall remain in existence as provided in its articles of incorporation or bylaws. The directors shall no longer be elected as required in this chapter. The ex officio directors shall no longer serve on the board. The board shall cease to administer this chapter, and the board shall no longer carry out its duties or exercise its powers as provided in this chapter. However, if a future referendum passes, the board shall be reorganized by the secretary and the directors then serving on the board shall be deemed to be the same directors who served on the board when the promotional order was terminated. The directors shall serve out their terms as though there had been no lapse of time between the two effective orders.