# Iowa Code § 462A.5A: Filing bond as assurance of ownership

> Iowa · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.5A

## Section

- **Citation:** Iowa Code § 462A.5A
- **Heading:** Filing bond as assurance of ownership
- **Jurisdiction:** Iowa
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** IA Code / Title XI / Chapter 462A / Section 462A.5A

## Text

An applicant for registration of a vessel for which the county recorder is not satisfied as to the ownership of the vessel as provided in section 462A.5, subsection 1, shall file with the department a bond in the form prescribed by the department and executed by the applicant, and also executed by a person authorized to conduct a surety business in this state. The form and amount of the bond shall be established by rule of the department. The bond shall be conditioned to indemnify any prior owner and secured party and any subsequent purchaser of the vessel or person acquiring any security interest in the vessel, and their respective successors in interest, against any expense, loss, or damage, including reasonable attorney fees, by reason of the issuance of the registration certificate of the vessel or on account of any defect in or undisclosed security interest upon the right, title, and interest of the applicant in and to the vessel. Any such interested person has a right of action to recover on the bond for any breach of its conditions, but the aggregate liability of the surety to all persons shall not exceed the amount of the bond. The bond shall be returned at the end of three years or prior thereto if the vessel is no longer registered in this state and the registration certificate is surrendered to the department, unless the department has been notified of the pendency of an action to recover on the bond.

2002 Acts, ch 1113, §10

## Nearby sections

- [Iowa Code § 462A.1 Declaration of policy.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.1.md)
- [Iowa Code § 462A.2 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.2.md)
- [Iowa Code § 462A.3 Powers and duties of commission.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.3.md)
- [Iowa Code § 462A.3A Public use of water for navigation purposes.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.3A.md)
- [Iowa Code § 462A.3B Reciprocity.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.3B.md)
- [Iowa Code § 462A.4 Operation of unnumbered vessels prohibited.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.4.md)
- [Iowa Code § 462A.5 Registration and identification number.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.5.md)
- [Iowa Code § 462A.5A Filing bond as assurance of ownership.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.5A.md)
- [Iowa Code § 462A.6 Exemption from registration provisions of this chapter.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.6.md)
- [Iowa Code § 462A.6A Exemption from display of registration and capacity numbers.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.6A.md)
- [Iowa Code § 462A.7 Occurrences involving vessels.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.7.md)
- [Iowa Code § 462A.8 Transmittal of information.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.8.md)
- [Iowa Code § 462A.9 Classification and required equipment.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.9.md)
- [Iowa Code § 462A.10 Boat liveries.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.10.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IA_TXI_C462A_S462A.5A. Check the current official text before relying on it. Not legal advice.