Iowa Code 473.9 – Set-aside definitions
Current as of: 2023 | Check for updates
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As used in section 473.10 unless the context otherwise requires:
1. “Hardship” means a situation involving or potentially involving substantial discomfort or danger or economic dislocation caused by a shortage or distribution imbalance of a liquid fossil fuel.
Terms Used In Iowa Code 473.9
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
- Trustee: A person or institution holding and administering property in trust.
2. “Liquid fossil fuel” means heating oils, diesel oil, motor gasoline, propane, residual fuel oils, kerosene, and aviation fuels.
3. “Prime supplier” means an individual, trustee, agency, partnership, association, corporation, company, municipality, political subdivision or other legal entity that makes the first sale of a liquid fossil fuel into the state distribution system for consumption within the state.