1. All state assessments imposed under this chapter shall be paid to and collected by the executive committee and deposited with the treasurer of state in a separate cattle promotion fund which shall be created by the treasurer of state. The department of administrative services shall transfer moneys from the fund to the executive committee for deposit into an account established by the executive committee in a qualified financial institution. The department shall transfer the moneys as provided in a resolution adopted by the executive committee. However, the department is only required to transfer moneys once during each day and only during hours when the offices of the state are open. From the moneys collected, deposited, and transferred to the executive committee, in accordance with the provisions of this chapter, the executive committee shall first pay the costs of referendums held pursuant to this chapter, the costs of collection of such state assessments, and the expenses of its agents. At least ten percent of the remaining moneys shall be remitted to the association in proportions determined by the executive committee, for use in a manner not inconsistent with section 181.7. The remaining moneys, with approval of a majority of the executive committee, shall be expended as the executive committee finds necessary to carry out the provisions and purposes of this chapter. However, in no event shall the total expenses exceed the total amount transferred from the fund for use by the executive committee.

Terms Used In Iowa Code 181.13

  • Association: means the Iowa beef cattle producers association. See Iowa Code 181.1
  • Cattle: means any live domesticated bovine animal regardless of age. See Iowa Code 181.1
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Department: means the department of environmental quality in a reference to a time before July 1, 1983, the department of water, air and waste management in a reference to a time on or after July 1, 1983, and through June 30, 1986, and the department of natural resources on or after July 1, 1986, and includes any officer or agency within that department. See Iowa Code 172D.1
  • Executive committee: means the executive committee of the association as created in section 181. See Iowa Code 181.1
  • Fund: means the grain depositors and sellers indemnity fund created in section 203D. See Iowa Code 203D.1
  • Payment: means the actual payment or tender of payment by a grain dealer to a seller of the agreed purchase price, or in the case of disputes as to sales of grain, the undisputed portion of the purchase price without reduction for any separate claim of the grain dealer against the seller. See Iowa Code 203.8
  • Qualified financial institution: means a bank or credit union as defined in section 12C. See Iowa Code 181.1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
  • State assessment: means an excise tax on the sale of cattle imposed pursuant to this chapter. See Iowa Code 181.1
 2. All moneys deposited in the cattle promotion fund and transferred to the executive committee pursuant to this section are appropriated and shall be used for the administration of this chapter and for the payment of claims based upon obligations incurred in the performance of activities and functions set forth in this chapter.
 3. If the state assessment is suspended as provided in section 181.7A or a continuance referendum fails to pass as provided in section 181.19A, moneys remaining in the cattle promotion fund and transferred to the executive committee shall continue to be transferred and expended in accordance with the provisions of this chapter until exhausted.
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