10.8 - MULTIPLE INTERESTS RESTRICTED. - Iowa Statutes

10.8 MULTIPLE INTERESTS RESTRICTED. 1. A person who holds an interest in a farmers cooperative association holding an interest in agricultural land pursuant to section 10.7 shall not hold an interest in another farmers entity if any of the following applies: a. The person holds a twenty-five percent or greater interest in a farmers cooperative association having six or fewer members. b. The person holds a fifteen percent or greater interest in a farmers cooperative association having seven or more members. 2. A person who holds a majority interest in an authorized entity shall not hold a majority interest in a farmers cooperative association.          Section History: Recent Form 98 Acts, ch 1110, §108, 301 Referred to in §10.12