10D.2 - QUALIFIED ENTERPRISES -- AGRICULTURAL LAND INTERESTS.
10D.2 QUALIFIED ENTERPRISES -- AGRICULTURAL LAND
INTERESTS.
Notwithstanding any other provision of law, a qualified enterprise
may acquire or hold an ownership or leasehold interest in
agricultural land as long as the qualified enterprise complies with
all of the following requirements:
1. The enterprise files a notice with the secretary of state not
later than June 30, 2002. The notice shall be a simple statement
providing the name of the enterprise and the address of the
enterprise's registered office or registered agent. The notice shall
indicate that the enterprise intends to acquire or hold an interest
in agricultural land under this chapter. The secretary of state
shall file the notice together with reports required for the
enterprise as required in chapter 10B.
2. The enterprise holds a total of not more than one thousand two
hundred eighty acres of agricultural land. The enterprise must hold
not more than eight hundred acres of agricultural land in any one
county.
3. The enterprise only holds the agricultural land for a
designated or incidental use.
a. A designated use must relate to producing baby chicks or
fertile chicken eggs for any of the following purposes:
(1) Sale or resale as breeding stock or breeding stock progeny.
(2) Research, testing, or experimentation related to the genetic
characteristics of chickens.
(3) The production and sale of products using biotechnological
systems or techniques for purposes of manufacturing animal vaccine,
pharmaceutical, or nutriceutical products.
b. An incidental use must be for a purpose related to the
sale of a surplus commodity or cull animal that is produced or kept
on the agricultural land, or to the sale of any by-product that is
produced as part of a designated use. Section History: Recent Form
2002 Acts, ch 1028, §4, 6