479.26 Financial condition of permittee — bond.
Before any permit is granted under this chapter the applicant must satisfy the board that the applicant has property within this state other than pipelines, subject to execution of a value in excess of two hundred fifty thousand dollars, or the applicant must file and maintain with the board a surety bond in the penal sum of two hundred fifty thousand dollars with surety approved by the board, conditioned that the applicant will pay any and all damages legally recovered against it growing out of the construction or operation of its pipeline and gas storage facilities in the state of Iowa. When the pipeline company deposits with the board security satisfactory to the board as a guaranty for the payment of the damages, or furnishes to the board satisfactory proofs of its solvency and financial ability to pay the damages, the pipeline company is relieved of the provisions requiring bond.
[C31, §8338-d27; C35, §8338-f40; C39, §8338.48; C46, 50, 54, 58, 62, 66, 71, 73, 75, §490.27; C77, 79, 81, §479.26; 81 Acts, ch 159, §11]
Referred to in §479.4, 479.23
Structure Iowa Code
Chapter 479 - PIPELINES AND UNDERGROUND GAS STORAGE
Section 479.1 - Purpose — applicability.
Section 479.3 - Conditions attending operation.
Section 479.4 - Dangerous construction — inspection.
Section 479.5 - Application for permit.
Section 479.7 - Hearing — notice.
Section 479.8 - Time and place.
Section 479.11 - Examination — testimony.
Section 479.12 - Final order — condition.
Section 479.13 - Costs and fees.
Section 479.14 - Inspection fee.
Section 479.15 - Failure to pay.
Section 479.16 - Receipt of funds.
Section 479.19 - Limitation on grant.
Section 479.20 - Sale of permit.
Section 479.21 - Transfer of permit.
Section 479.23 - Extension of permit.
Section 479.24 - Eminent domain.
Section 479.26 - Financial condition of permittee — bond.
Section 479.28 - Orders — enforcement.
Section 479.29 - Land restoration.
Section 479.30 - Entry for land surveys.
Section 479.31 - Civil penalty.
Section 479.32 - Rehearing — judicial review.
Section 479.33 - Authorized federal aid.
Section 479.34 - Cancellation.
Section 479.41 - Arbitration agreements.
Section 479.42 - Subsequent pipelines.
Section 479.43 - Damage agreement.
Section 479.44 - Negotiated fee.
Section 479.45 - Particular damage claims.
Section 479.46 - Determination of installation damages.
Section 479.47 - Subsequent tiling.