202.2 - PRODUCTION CONTRACTS GOVERNED BY THIS CHAPTER. - Iowa Statutes

202.2 PRODUCTION CONTRACTS GOVERNED BY THIS CHAPTER. 1. This chapter applies to a production contract that relates to the production of a commodity owned by an active contractor and produced by a contract producer at the contract producer's contract operation, if one of the following applies: a. The contract is executed by an active contractor and a contract producer for the production of the commodity. b. The contract is executed by an active contractor and a passive contractor for the provision of management services to the contract producer in the production of the commodity. c. The contract is executed by a passive contractor and a contract producer, if all of the following apply: (1) The contract provides for management services furnished by the passive contractor to the contract producer in the production of the commodity. (2) The passive contractor has a contractual relationship with the active contractor involving the production of the commodity. 2. A production contract is executed when it is signed or orally agreed to by each party or by a person who is authorized by a party to act on the party's behalf.          Section History: Recent Form 99 Acts, ch 169, §3, 22--24 Referred to in § 202.1