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DNR Form 542-0130 Timber Buyer Surety Bond (Using Certificate of Deposit) Covering the Purchase of Timber From Timber Growers by a Timber Buyer or Buyer's Agent - Iowa
What Is DNR Form 542-0130?
This is a legal form that was released by the Iowa Department of Natural Resources - a government authority operating within Iowa. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is DNR Form 542-0130?
A: DNR Form 542-0130 is a Timber Buyer Surety Bond (Using Certificate of Deposit) related to the purchase of timber from timber growers by a timber buyer or buyer's agent in Iowa.
Q: What does the Timber Buyer Surety Bond cover?
A: The Timber Buyer Surety Bond covers the purchase of timber from timber growers by a timber buyer or buyer's agent.
Q: What is the purpose of the bond?
A: The bond ensures that the timber buyer or buyer's agent fulfills their financial obligations and pays the timber growers for the purchased timber.
Q: What is a Certificate of Deposit?
A: A Certificate of Deposit (CD) is a financial product offered by banks and credit unions that allows individuals to deposit money for a certain period of time at a fixed interest rate.
Q: How is the bond secured using a Certificate of Deposit?
A: The bond is secured by placing a Certificate of Deposit as collateral. If the timber buyer or buyer's agent fails to fulfill their obligations, the timber growers can make a claim against the Certificate of Deposit.
Q: Who needs to submit this bond?
A: Timber buyers or buyer's agents in Iowa who purchase timber from timber growers need to submit this bond.
Q: Is this bond required by law?
A: Yes, this bond is required by the Iowa Department of Natural Resources (DNR) for timber buyers or buyer's agents.
Q: How can I obtain this bond?
A: You can obtain this bond by completing DNR Form 542-0130 and submitting it along with the required Certificate of Deposit to the Iowa Department of Natural Resources (DNR).
Q: Are there any specific requirements for the Certificate of Deposit?
A: Yes, the Certificate of Deposit must be issued by a federally-insured bank or credit union and must be equal to or greater than the amount of the bond.
Q: What happens if the bond requirements are not met?
A: If the bond requirements are not met, the timber buyer or buyer's agent may not be allowed to purchase timber from timber growers in Iowa.
Form Details:
- Released on August 1, 2017;
- The latest edition provided by the Iowa Department of Natural Resources;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of DNR Form 542-0130 by clicking the link below or browse more documents and templates provided by the Iowa Department of Natural Resources.
