Iowa Code 327D.114 – Passenger tickets — redemption
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 327D.114
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Days: means calendar days. See Iowa Code 322G.2
- Railroad: means the terminal facilities necessary in the transportation of persons and property and includes bridges, railroad right-of-way, trackage, switches and other appurtenances necessary for the operation of a railroad, whether owned, leased or operated under some other contractual agreement. See Iowa Code 327D.2
- Transportation: means all instrumentalities of shipment or carriage as well as services in connection with the actual transport. See Iowa Code 327D.2
Every railroad corporation shall redeem in whole or in part any unused passenger ticket at a rate equal to the transportation value of the unused portion. Any redemption shall be made not more than forty-five days from the date of the refund request.