Terms Used In Iowa Code > Chapter 202B - Swine and Beef Processors

• Base price: means the price paid for swine, delivered to the processor, before application of any premiums or discounts, and expressed in dollars per hundred pounds of hot carcass weight as calculated in the same manner as provided in 7 C. See Iowa Code 202B.102
• Board: means the Iowa grain indemnity fund board created in section 203D. See Iowa Code 203D.1
• Business association: means a person organized under statute or common law in this state or another jurisdiction for purposes of engaging in a commercial activity on a profit, cooperative, or not-for-profit basis, including but not limited to a corporation or entity taxed as a corporation under the Internal Revenue Code, nonprofit corporation, cooperative association, partnership, limited partnership, limited liability company, limited liability partnership, investment company, joint stock company, joint stock association, or trust, including but not limited to a business trust. See Iowa Code 202B.102
• Cattle operation: means a location including but not limited to a building, lot, yard, corral, or other place where cattle for slaughter are fed or otherwise maintained. See Iowa Code 202B.102
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Contract: A legal written agreement that becomes binding when signed.
• Contract for the care and feeding of swine: means an oral or written agreement executed between a person and the owner of swine, under which the person agrees to care for and feed the owner's swine on the person's premises. See Iowa Code 202B.102
• Controlling interest: means actual control or the possession directly or indirectly of the power to direct or cause the direction of the management and policies of a processor, whether through the ownership of voting securities, by contract, or otherwise. See Iowa Code 202B.102
• Cooperative association: means the same as defined in section 10. See Iowa Code 202B.102
• 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.
• Delivery: means the transfer of title to and possession of grain by a seller to a grain dealer or to another person in accordance with the agreement of the seller and the grain dealer. See Iowa Code 203.8
• 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
• Fund: means the grain depositors and sellers indemnity fund created in section 203D. See Iowa Code 203D.1
• Indirect: means to act or attempt to accomplish an act through an interest in a business association, through one or more affiliates or intermediaries, or by any method other than a direct approach, including by any circuitous or oblique method. See Iowa Code 202B.102
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• month: means a calendar month, and the word "year" and the abbreviation "A. See Iowa Code 4.1
• Owner: shall mean the person holding record title to real estate to include both legal and equitable interests under recorded real estate contracts. See Iowa Code 172D.1
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means an individual, business association, government or governmental subdivision or agency, or any other legal entity. See Iowa Code 202B.102
• Processor: means a person who alone or in conjunction with others directly or indirectly controls the manufacturing, processing, or preparation for sale of beef or pork products, including the slaughtering of cattle or swine or the manufacturing or preparation of carcasses or goods originating from the carcasses, if the beef or pork products have a total annual wholesale value of eighty million dollars or more for the person's tax year. See Iowa Code 202B.102
• Qualified processor: means a processor of pork products if all of the following apply:
   a. See Iowa Code 202B.102
• Seller: means a person who sells grain which the person has produced or caused to be produced to a licensed grain dealer, but excludes a person who executes a credit-sale contract as a seller as provided in section 203. See Iowa Code 203D.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
• Statute: A law passed by a legislature.
• Swine operation: means a location where swine are fed or otherwise maintained, including a building, lot, yard, or corral; and swine which are fed or otherwise maintained at the location. See Iowa Code 202B.102
• Swine producer: means a person who owns, controls, or operates a swine operation or who contracts for the care and feeding of swine. See Iowa Code 202B.102
• Threshold interest: means a direct or indirect interest in the business association, calculated as follows:
   (1) For a processor of beef products, the person's threshold interest begins at ten percent. See Iowa Code 202B.102
• Trustee: A person or institution holding and administering property in trust.
• week: means seven consecutive days. See Iowa Code 4.1
• year: means twelve consecutive months. See Iowa Code 4.1