Iowa Admin. Code r. 571-72.1

Current through Register Vol. 46, No. 18, March 6, 2024
Rule 571-72.1 - Definitions

"Collateral bond" means a bond signed by the timber buyer as principal and accompanied by a bank certificate of deposit.

"Corporate surety bond" means a bond signed by the timber buyer as principal and a corporate surety authorized to engage in the business of executing surety bonds within Iowa."Department" means the department of natural resources.

"Director" means the director of the department of natural resources or the administrator of the division of forests and forestry who has been designated to act for the director.

"Proof of ownership" means a timber sale contract; bill of sale or bill of lading showing owner's name, address, and telephone number, point of origin, and destination.

"The Act" means Iowa Code section 456A.36.

"Timber buyer" means a person engaged in the business of buying timber from the timber growers for sawing into lumber for processing or resale, but does not include a person who occasionally purchases timber for sawing or processing for the person's own use and not for resale. Timber buyer includes a person who contracts with a timber grower on a shared-profit basis to harvest timber from the grower's land.

"Timber buyer surety bond" means a bond signed by the timber buyer as principal, bonding the timber buyer to the commission for the performance under the Act.

Iowa Admin. Code r. 571-72.1