479B.13 Financial condition of permittee — bond.
Before a permit is granted under this chapter the applicant must satisfy the board that the applicant has property within this state other than pipelines or underground storage facilities, 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, maintenance, or operation of its pipeline or underground storage facilities in this state. 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.
95 Acts, ch 192, §40
Referred to in §479B.4, 479B.14
Structure Iowa Code
Chapter 479B - HAZARDOUS LIQUID PIPELINES AND STORAGE FACILITIES
Section 479B.1 - Purpose — authority.
Section 479B.3 - Conditions attending operation.
Section 479B.4 - Application for permit — informational meeting — notice.
Section 479B.6 - Hearing — notice.
Section 479B.8 - Examination — testimony.
Section 479B.9 - Final order — condition.
Section 479B.10 - Costs and fees.
Section 479B.11 - Inspection fee.
Section 479B.12 - Use of funds.
Section 479B.13 - Financial condition of permittee — bond.
Section 479B.14 - Permits — limitations — sale or transfer — records — extension.
Section 479B.15 - Entry for land surveys.
Section 479B.16 - Eminent domain.
Section 479B.19 - Orders — enforcement.
Section 479B.20 - Land restoration standards.
Section 479B.21 - Civil penalty.
Section 479B.22 - Rehearing — judicial review.
Section 479B.23 - Authorized federal aid.
Section 479B.24 - Cancellation.
Section 479B.25 - Arbitration agreements.
Section 479B.26 - Subsequent pipeline or underground storage facility.
Section 479B.27 - Damage agreement.
Section 479B.28 - Negotiated fee.
Section 479B.29 - Particular damage claims.
Section 479B.30 - Determination of construction damages.
Section 479B.31 - Subsequent tiling.