# Iowa Code § 203.8: Payment

> Iowa · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.8

## Section

- **Citation:** Iowa Code § 203.8
- **Heading:** Payment
- **Jurisdiction:** Iowa
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** IA Code / Title V / Chapter 203 / Section 203.8

## Text

(1) (a) A grain dealer licensed or required to be licensed pursuant to section 203.3 shall pay the purchase price to the seller for grain as follows:

(1) (a) Upon delivery or later upon demand by the seller. If the seller does not make a demand, the grain dealer shall pay the purchase price not later than the last date for scheduled payments made by the licensed grain dealer to sellers for delivered grain according to the grain dealer’s standard business operation as provided by rules adopted by the department.

(1) (a) In accordance with the terms of a credit-sale contract that satisfies the requirements of this chapter.

(1) (b) A grain dealer licensed or required to be licensed pursuant to section 203.3 shall not hold a check for the purchase of grain more than five days after the grain dealer issues a check to the seller. After that date, the grain dealer shall deliver the check in person or by mail to the seller’s last known address. The department shall adopt rules pursuant to chapter 17A for a grain dealer’s payment by check and electronic funds transfer.

(2) As used in this section:

(2) (a) “Delivery” means the transfer of title to and possession of grain by a seller to a grain dealer or to another person in accordance with the agreement of the seller and the grain dealer.

(2) (b) “Payment” means the actual payment or tender of payment by a grain dealer to a seller of the agreed purchase price, or in the case of disputes as to sales of grain, the undisputed portion of the purchase price without reduction for any separate claim of the grain dealer against the seller.

[C75, 77, 79, 81, §542.8; 81 Acts, ch 180, §9]C93, §203.896 Acts, ch 1030, §1; 2003 Acts, ch 69, §42025 Acts, ch 105, §5

## Nearby sections

- [Iowa Code § 203.1 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.1.md)
- [Iowa Code § 203.2 Powers and duties of the department.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.2.md)
- [Iowa Code § 203.2A Grain purchasers who are not licensed grain dealers special notice requirements.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.2A.md)
- [Iowa Code § 203.3 License required — financial responsibility.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.3.md)
- [Iowa Code § 203.4 Participation in indemnity fund required.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.4.md)
- [Iowa Code § 203.5 License.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.5.md)
- [Iowa Code § 203.6 Fees.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.6.md)
- [Iowa Code § 203.7 Posting of license.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.7.md)
- [Iowa Code § 203.8 Payment.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.8.md)
- [Iowa Code § 203.9 Inspection of premises and records — reconstruction of records.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.9.md)
- [Iowa Code § 203.10 Action affecting a license.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.10.md)
- [Iowa Code § 203.11 Penalties — injunctions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.11.md)
- [Iowa Code § 203.11A Civil penalties.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.11A.md)
- [Iowa Code § 203.11B Grain industry peer review panel.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.11B.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IA_TV_C203_S203.8. Check the current official text before relying on it. Not legal advice.