Iowa Code 479B.24 – Cancellation
Current as of: 2024 | Check for updates
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A pipeline company seeking to acquire an easement or other property interest for the construction, maintenance, or operation of a pipeline or underground storage facility shall do all of the following:
1. Allow the landowner or a person serving in a fiduciary capacity on the landowner’s behalf to cancel an agreement granting an easement or other interest by restricted certified mail to the pipeline company‘s principal place of business if received by the pipeline company within seven days, excluding Saturday and Sunday, of the date of the agreement and inform the landowner or the fiduciary in writing of the right to cancel prior to the signing of the agreement by the landowner or the fiduciary.
Terms Used In Iowa Code 479B.24
- Fiduciary: A trustee, executor, or administrator.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Person: means an individual, partnership, firm, corporation, or association. See Iowa Code 462A.2
- Pipeline: means an interstate pipe or pipeline and necessary appurtenances used for the transportation or transmission of hazardous liquids. See Iowa Code 479B.2
- Pipeline company: means a person engaged in or organized for the purpose of owning, operating, or controlling pipelines for the transportation or transmission of any hazardous liquid or underground storage facilities for the underground storage of any hazardous liquid. See Iowa Code 479B.2
- property: includes personal and real property. See Iowa Code 4.1
- Underground storage: means storage of hazardous liquid in a subsurface stratum or formation of the earth. See Iowa Code 479B.2
2. Provide the landowner or a person serving in a fiduciary capacity in the landowner’s behalf with a form in duplicate for the notice of cancellation.
3. Not record an agreement until after the period for cancellation has expired.
4. Not include in the agreement a waiver of the right to cancel in accordance with this section. The landowner or a person serving in a fiduciary capacity in the landowner’s behalf may exercise the right of cancellation only once for each pipeline project.