Iowa Code 423.12 – Limited binding and beneficial effect
Current as of: 2023 | Check for updates
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1. The agreement binds and inures only to the benefit of Iowa and the other member states. A person, other than a member state, is not an intended beneficiary of the agreement. Any benefit to a person other than a member state is established by the law of Iowa and not by the terms of the agreement.
Terms Used In Iowa Code 423.12
- Agreement: means the streamlined sales and use tax agreement authorized by subchapter IV of this chapter to provide a mechanism for establishing and maintaining a cooperative, simplified system for the application and administration of sales and use taxes. See Iowa Code 423.1
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Department: means the department of revenue. See Iowa Code 423.1
- Member state: is a ny state which has signed the agreement. See Iowa Code 423.1
- Person: means an individual, trust, estate, fiduciary, partnership, limited liability company, limited liability partnership, corporation, or any other legal entity. See Iowa Code 423.1
- State: means any state of the United States, the District of Columbia, and Puerto Rico. See Iowa Code 423.1
2. A person shall not have any cause of action or defense under the agreement or by virtue of this state’s entry into the agreement. A person may not challenge, in any action brought under any provision of law, any action or inaction by any department, agency, or other instrumentality of this state, or any political subdivision of this state on the ground that the action or inaction is inconsistent with the agreement.
3. A law of this state, or the application of it, shall not be declared invalid as to any such person or circumstance on the ground that the provision or application is inconsistent with the agreement.