1. The board of directors, upon receiving actual notice of the death of a member or stockholder, shall provide a statement to the administrator or executor of the member’s or stockholder’s estate, or to the attorney representing such estate. The statement shall describe agricultural products owned by the member or stockholder which are in the possession of the association.

Terms Used In Iowa Code 499.79

  • Agricultural products: include horticultural, viticultural, forestry, dairy, livestock, poultry, bee and any other farm products. See Iowa Code 499.2
  • Association: means a corporation formed under this chapter. See Iowa Code 499.2
  • executor: includes administrator, and the term "administrator" includes executor, where the subject matter justifies such use. See Iowa Code 4.1
  • Executor: A male person named in a will to carry out the decedent
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • year: means twelve consecutive months. See Iowa Code 4.1
 2. This section shall not require an association to conduct a search of the status of its members or stockholders. The association shall exercise reasonable diligence in determining to whom the statement must be delivered. The statement shall be delivered to the administrator, executor, or attorney, within thirty days following a determination as to whom the statement must be delivered. A statement is not required to be prepared or delivered, if the association is not notified of the member’s or stockholder’s death within one year after the date of death, or by the date that the member’s or stockholder’s estate is closed, whichever is later.
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