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Bills › 89th General Assembly

SSB 3124

Topics:Business & economy

Same legislation: HF 2383, SF 2310

Write your legislators about it

Also covers HF 2383 and SF 2310.

What changed before it passed
Official bill pageLobbyist declarationsOne-pager to print

Where it is now

  1. Done: IntroducedFebruary 9, 2022
  2. Done: SubcommitteeFebruary 9, 2022
  3. Done: Senate committeeFebruary 16, 2022
  4. Skipped: Passes the SenateContinued as SF 2310
  5. Next: House committee
  6. Next: Passes the House
  7. Next: To the Governor
  8. Next: Signed into law

Became SF 2310 → Its progress continues under the new number. Go to SF 2310 What’s a funnel?

What’s in it

BACKGROUND.102(24)).501). Under general principles of agricultural cooperative law, shares of common stock (memberships) must be held by patrons, and specifically persons who meet certain requirements: (1) producing a product marketed by the association, (2) customarily consuming or using the supplies or commodities that the association handles, or (3) using the services that the association renders. _____ these arrangements (patronage) are refunded to members or used to provide capital for the cooperative’s operations.

Read the full explanation

Thus, an important restriction is based on a principle of member participation, control, and benefits which also restricts outside investment.810). The ICAA provides for traditional cooperatives which are agricultural cooperatives organized under Code chapters 497, 498, 499, and 501. A domestic cooperative includes a 501A cooperative as well as a traditional cooperative.1101).1015).1005) which includes the adoption of a plan of merger. BILL’S PROVISIONS. The bill provides for a nonagricultural cooperative organized for purposes of owning multiple housing residential properties under Code chapter 499A (499A cooperative). The bill provides that a 499A cooperative is defined as both a traditional and domestic cooperative under the ICAA and as a domestic cooperative under the RULPA. However, the bill does not amend a number of corresponding provisions in the ICAA relating to domestic business entities, foreign cooperatives, securities and liens held in connection with a conversion, and a 501A’s organizational purposes.

Full bill text · What changed before it passed1

Senate subcommittee

Named February 9, 2022. On February 15, 2022 it recommended passage.

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

Iowa Code it changes

Amends§489.102§501A.102

How the Code works2

Lobbying

1 for · 0 against · 3 undecided · Who →

Family tree

Study bill

SSB 3124Renumbered

89th General Assembly

HF 2383Cleared committeeHouse companionSF 2310Became lawfrom SSB 3124