Iowa Admin. Code r. 701-250.11

Current through Regsiter Vol. 46, No. 26, June 12, 2024

Rule 701-250.11 - Shell businesses

(1) The 90-day temporary period of operation under Iowa Code section 321.55(2) does not apply to a vehicle owned by a shell business.

(2) Factors that indicate a business is a shell business include, but are not limited to, a lack of specific business activity or purpose and failure to maintain a physical location in the state in which the business is registered.

(3) If the department determines that the nonresident owner of the vehicle is a shell business, it is presumed that:

a. The Iowa resident in control of the vehicle is the actual owner of the vehicle;

b. The vehicle is subject to Iowa registration; and

c. The payment of the fee for new registration is owed by the Iowa resident.

This rule is intended to implement Iowa Code section 321.105A as amended by 2021 Iowa Acts, Senate File 366.

Iowa Admin. Code r. 701-250.11

Renumbered from 701-34.11 by IAB September 7, 2022/Volume XLV, Number 5, effective 10/12/2022