Iowa Admin. Code r. 199-13.14

Current through Register Vol. 47, No. 5, September 4, 2024

Rule 199-13.14 - Sale or transfer of permit

(1) No permit shall be sold or transferred without written approval of the commission. A petition for approval of the sale or transfer shall be jointly filed by the buyer, or transferee, and the seller, or transferor, and shall include assurances that the buyer, or transferee, is authorized to transact business in the state of Iowa and is willing and able to construct, operate, and maintain the pipeline in accordance with these rules. If the sale, or transfer, is prior to completion of construction of the pipeline, the buyer, or transferee, shall demonstrate it has the financial ability to pay, for damages associated with construction or operation of the pipeline, up to $250,000 or any other amount the commission determined necessary when granting the permit.

(2) For the purposes of this rule, reassignment of a pipeline permit as part of a name change or a corporate restructuring, with no change in pipeline operating personnel or procedures, is considered a transfer and requires prior commission approval.

Amended by IAB September 8, 2021/Volume XLIV, Number 5, effective 10/13/2021

Editorial change: IAC Supplement 7/24/2024