Iowa § 203C.40 - 203C.40 Prioritization of inspections of warehouse operators.
Full text of Iowa Iowa Code § 203C.40 — 203C.40 Prioritization of inspections of warehouse operators., with citation guidance and answers to common questions.
§ 203C.40. 203C.40 Prioritization of inspections of warehouse operators.
The department shall develop a system to prioritize the inspections of warehouse operators provided in section 203C.2. The system of prioritization shall be computed each year based on the risk of loss to the grain depositors and sellers indemnity fund caused by the possible insolvency of the warehouse operator. The department shall compute the risk by utilizing an available statistical model to measure the financial condition of warehouse operators. Procedures for utilizing the statistical model shall be adopted by department rules. The statistical model shall be used to provide risk ratings. A risk rating shall be used as a factor by the department to prioritize its inspection schedule. The department may inspect a warehouse operator at any time based on a risk of loss to the fund according to the risk rating. A substantial risk of loss to the grain depositors and sellers indemnity fund caused by the possible insolvency of the warehouse operator based on the statistical model shall be good cause. 92 Acts, ch 1239, §77 Referred to in §203C.1, 203C.2 Thu Dec 11 18:54:38 2025 Iowa Code 2026, Section 203C.40 (18, 0)
Source: official Iowa text · Last verified 2026-08-27
Frequently Asked Questions About Iowa § 203C.40
What does Iowa Code § 203C.40 cover?
Section 203C.40 ("203C.40 Prioritization of inspections of warehouse operators.") is part of the Iowa Code, the codified statutory law of Iowa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Iowa § 203C.40?
A common citation format is "Iowa Code § 203C.40" (Iowa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Iowa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Iowa official source linked on this page or consult a licensed Iowa attorney.
How does Iowa § 203C.40 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Iowa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Iowa.