Read the full stored bill text
Senate
File
169
-
Introduced
SENATE
FILE
169
BY
DICKEY
A
BILL
FOR
An
Act
relating
to
record
access
by
members
of
cooperative
1
associations
providing
utility
service.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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S.F.
169
Section
1.
NEW
SECTION
.
498.38
Financial
records
access.
1
An
association
that
provides
utility
service
to
its
2
members
shall,
upon
reasonable
request
by
any
member
of
the
3
association,
provide
to
the
member
the
association’s
most
4
recent
biennial
report
and
any
requested
financial
information,
5
including
the
association’s
budget
and
balance
sheet.
The
6
requested
information
shall
be
delivered
to
the
member
no
later
7
than
thirty
days
after
the
request.
8
Sec.
2.
NEW
SECTION
.
499.81
Financial
records
access.
9
An
association
that
provides
utility
service
to
its
10
members
shall,
upon
reasonable
request
by
any
member
of
the
11
association,
provide
to
the
member
the
association’s
most
12
recent
biennial
report
and
any
requested
financial
information,
13
including
the
association’s
budget
and
balance
sheet.
The
14
requested
information
shall
be
delivered
to
the
member
no
later
15
than
thirty
days
after
the
request.
16
EXPLANATION
17
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
18
the
explanation’s
substance
by
the
members
of
the
general
assembly.
19
This
bill
provides
that
if
a
nonprofit
cooperative
20
association
or
cooperative
association
provides
utility
service
21
to
members,
the
most
recent
biennial
report
and
financial
22
information,
including
the
budget
and
balance
sheet,
for
the
23
nonprofit
cooperative
association
or
cooperative
association
24
must
be
made
available
to
a
member
within
30
days
of
a
25
reasonable
request
by
the
member.
26
A
nonprofit
cooperative
association
means
a
corporate
27
body
composed
of
actual
producers
or
consumers
of
the
given
28
commodity
handled
by
the
association,
whose
business
is
29
conducted
for
the
mutual
benefit
of
its
members
and
not
for
the
30
profit
of
stockholders,
and
for
which
control
is
vested
in
its
31
members
upon
the
basis
of
one
vote
to
each
member.
32
A
cooperative
association
is
one
that
deals
with
or
33
functions
for
its
member
and
that
distributes
its
net
earnings
34
among
its
members
in
proportion
to
their
dealings
with
it,
35
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169
except
for
limited
dividends
or
other
items
permitted
in
Code
1
chapter
499,
and
in
which
each
voting
member
has
one
vote
and
2
no
more.
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