181.1 - DEFINITIONS.
181.1 DEFINITIONS.
As used in this chapter, unless the context requires otherwise:
1. "Association" means the Iowa beef cattle producers
association.
2. "Cattle" means any live domesticated bovine animal
regardless of age.
3. "Council" means the Iowa beef industry council.
4. "Federal Act" means the federal Beef Promotion and
Research Act of 1985, 7 U.S.C. § 2901 et seq.
5. "Federal assessment" means an excise tax on the sale of
bovine animals imposed pursuant to the federal Act.
6. "Producer" means any person who owns or acquires ownership
of cattle. However, a person shall not be considered a producer if
any of the following apply:
a. The person's only share in the proceeds of a sale of
cattle or beef is a sales commission, handling fee, or other service
fee.
b. The person acquired ownership of cattle to facilitate the
transfer of ownership of such cattle from the seller to a third
party; resold such cattle no later than ten days from the date on
which the person acquired ownership; and certified as required by
rules adopted by the council.
7. "Qualified financial institution" means a bank, credit
union, or savings and loan as defined in section 12C.1.
8. "Records" means books, papers, documents, accounts,
agreements, memoranda, electronic records of accounts, or
correspondence relating to a matter regulated under this chapter.
9. "Secretary" means the secretary of agriculture.
10. "State assessment" means an excise tax on the sale of
cattle imposed pursuant to this chapter. Section History: Early Form
[C71, 73, 75, 77, 79, 81, § 181.6] Section History: Recent Form
86 Acts, ch 1100, § 5; 94 Acts, ch 1146, §6; 97 Acts, ch 30, §2, 9
CS97, § 181.1
2004 Acts, ch 1037, §1, 19