462A.5A Filing bond as assurance of ownership.
An applicant for registration of a vessel for which the county recorder is not satisfied as to the ownership of the vessel as provided in section 462A.5, subsection 1, shall file with the department a bond in the form prescribed by the department and executed by the applicant, and also executed by a person authorized to conduct a surety business in this state. The form and amount of the bond shall be established by rule of the department. The bond shall be conditioned to indemnify any prior owner and secured party and any subsequent purchaser of the vessel or person acquiring any security interest in the vessel, and their respective successors in interest, against any expense, loss, or damage, including reasonable attorney fees, by reason of the issuance of the registration certificate of the vessel or on account of any defect in or undisclosed security interest upon the right, title, and interest of the applicant in and to the vessel. Any such interested person has a right of action to recover on the bond for any breach of its conditions, but the aggregate liability of the surety to all persons shall not exceed the amount of the bond. The bond shall be returned at the end of three years or prior thereto if the vessel is no longer registered in this state and the registration certificate is surrendered to the department, unless the department has been notified of the pendency of an action to recover on the bond.
2002 Acts, ch 1113, §10
Referred to in §462A.5
Structure Iowa Code
Chapter 462A - WATER NAVIGATION REGULATIONS
Section 462A.1 - Declaration of policy.
Section 462A.3 - Powers and duties of commission.
Section 462A.3A - Public use of water for navigation purposes.
Section 462A.3B - Reciprocity.
Section 462A.4 - Operation of unnumbered vessels prohibited.
Section 462A.5 - Registration and identification number.
Section 462A.5A - Filing bond as assurance of ownership.
Section 462A.6 - Exemption from registration provisions of this chapter.
Section 462A.6A - Exemption from display of registration and capacity numbers.
Section 462A.7 - Occurrences involving vessels.
Section 462A.8 - Transmittal of information.
Section 462A.9 - Classification and required equipment.
Section 462A.10 - Boat liveries.
Section 462A.11 - Muffling devices.
Section 462A.12 - Prohibited operation.
Section 462A.12A - Online watercraft education courses.
Section 462A.14 - Operating a motorboat or sailboat while intoxicated.
Section 462A.14A - Implied consent to test.
Section 462A.14B - Refusal to submit — penalty.
Section 462A.14C - Statement of officer.
Section 462A.14D - Tests pursuant to warrants.
Section 462A.14E - Violations of orders not to operate a motorboat or sailboat.
Section 462A.14F - Department recordkeeping.
Section 462A.15 - Water skis and surfboards.
Section 462A.16 - Regattas, races, marine parades, tournaments, or exhibitions.
Section 462A.17 - Local regulations restricted.
Section 462A.18 - Owner’s civil liability.
Section 462A.20 - Boat inspection.
Section 462A.22 - Engineer or pilot license.
Section 462A.23 - Suspension or revocation.
Section 462A.24 - Overloading of vessels.
Section 462A.26 - Right-of-way rules — speed and distance rules — zoning water areas.
Section 462A.27 - Removal of nonpermanent structures.
Section 462A.27A - Dock requirements — exemptions.
Section 462A.28 - Unworthy vessels drydocked.
Section 462A.29 - Official duty exempted.
Section 462A.30 - Aircraft restriction.
Section 462A.31 - Artificial lakes.
Section 462A.32 - Rules for buoys.
Section 462A.33 - Driving over ice.
Section 462A.34 - Authorized emergency vessels.
Section 462A.34A - Vehicles prohibited in streambed.
Section 462A.34B - Eluding or attempting to elude pursuing law enforcement vessel — penalty.
Section 462A.35 - Special certificate for manufacturer or dealer.
Section 462A.36 - Fee for special certificate — minimum requirements for issuance.
Section 462A.37 - Number assigned — special signs.
Section 462A.39 - Expiration date.
Section 462A.40 - Record of use.
Section 462A.41 - Separate certificate for each city.
Section 462A.42 - List of used boats on hand furnished.
Section 462A.43 - Transfer of ownership.
Section 462A.44 - Application for transfer.
Section 462A.45 - Transfer by dealer.
Section 462A.46 - Purchase of registered vessel by dealer.
Section 462A.47 - Transfer to dealer.
Section 462A.48 - Sales by manufacturer or dealer.
Section 462A.49 - Prohibited use of “registration applied for” card.
Section 462A.50 - Official cards only to be used.
Section 462A.51 - County recorder — duties.
Section 462A.52 - Fees remitted to commission.
Section 462A.53 - Amount of writing fees.
Section 462A.54 - Disposal of writing fees.
Section 462A.55 - Sales or use tax to be paid before registration.
Section 462A.66 - Inspection authority.
Section 462A.67 - Inspection deficiency order.
Section 462A.68 - Termination of use.
Section 462A.69 - Public use of water for navigation purposes.
Section 462A.70 - Hull identification, capacity plates, warning labels.
Section 462A.71 - Reciprocity.
Section 462A.77 - Owner’s certificate of title — in general.
Section 462A.78 - Fees — surcharge — duplicates.
Section 462A.79 - Obtaining manufacturer’s or importer’s certificate of origin.
Section 462A.80 - Hull identification number of vessel.
Section 462A.81 - Dealer’s record of vessels bought, sold, or transferred.
Section 462A.83 - Security interest in vessels — exemptions.