Iowa Admin. Code r. 199-10.17
Current through Register Vol. 47, No. 11, December 11, 2024
Rule 199-10.17 - Sale or transfer of permit(1) No permit shall be sold or transferred without written approval of the commission. A petition for approval of the sale or transfer shall be jointly filed by the buyer, or transferee, and the seller, or transferor, shall include assurances that the buyer, or transferee, is authorized to transact business in the state of Iowa; is willing and able to construct, operate, and maintain the pipeline in accordance with these rules; and if the sale, or transfer, is prior to completion of construction of the pipeline shall show that the buyer, or transferee, has the financial ability to pay up to $250,000 in damages associated with construction or operation of the pipeline, or any other amount the commission has determined is necessary when granting the permit.(2) For purposes of this rule, reassignment of a pipeline permit as part of a corporate restructuring, with no change in pipeline operating personnel or procedures, is considered a transfer and requires prior commission approval.Iowa Admin. Code r. 199-10.17
ARC 7962B, IAB 7/15/09, effective 8/19/09; ARC 9501B, IAB 5/18/11, effective 6/22/11; ARC 1359C, IAB 3/5/2014, effective 4/9/2014Amended by IAB September 17, 2014/Volume XXXVII, Number 6, effective 10/22/2014Renumbered from 199-10.19 IAB February 26, 2020/Volume XLII, Number 18, effective 4/1/2020Editorial change: IAC Supplement 7/24/2024