Iowa Code 478.12 – Acceptance of franchise
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Terms Used In Iowa Code 478.12
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: means an individual, partnership, firm, corporation, or association. See Iowa Code 462A.2
Any person, company, or corporation obtaining a franchise as provided in this chapter, or owning or operating under one, shall be conclusively held to an acceptance of the provisions of this chapter and of all laws relating to the regulation, supervision, or control of franchises which are now in force or which may be hereafter enacted, and to have consented to such reasonable regulation as the utilities board may, from time to time, prescribe. The provisions of this chapter shall apply equally to assignees as well as to original owners.