A bill for an act relating to record access by members of cooperative associations providing utility service.(See SF 578.)
Summary
Senate File 169 would require nonprofit cooperative associations and cooperative associations that provide utility service to their members to disclose certain financial records to any member who makes a reasonable request. Specifically, the association would have to provide its most recent biennial report and any requested financial information, including its budget and balance sheet, within 30 days of the request.
The bill adds two new sections to Iowa Code chapters 498 and 499, creating an explicit statutory right for members of utility cooperatives to access core financial documents. The measure is aimed at improving transparency and member oversight of cooperative utilities, which are member-owned entities operating for mutual benefit rather than shareholder profit.
Impact
The bill would change Iowa law by imposing a mandatory records-disclosure obligation on utility-providing cooperative associations under chapters 498 and 499. It would give members a clear legal basis to obtain recent biennial reports and financial documents such as budgets and balance sheets, and it would require delivery within a 30-day timeframe after a reasonable request. The practical effect would be increased accountability for cooperative utilities and greater access to financial information for members who rely on those services.
Sentiment
The available legislative history suggests generally favorable treatment of the bill, with the committee reporting it out and renumbering it as SF 578. No votes or committee transcript objections are provided, and the bill appears to have advanced without recorded controversy in the materials supplied. Overall, the sentiment reflected in the available record is supportive of transparency and member access to cooperative financial information.
Contention
No specific points of contention are documented in the provided transcripts or vote history. The main policy issue implicit in the bill is the balance between member transparency and the administrative burden on cooperative associations to produce financial records on request. If any opposition existed, it is not reflected in the materials provided; the committee action indicates the bill was approved and moved forward.
Similar To
A bill for an act relating to record access by members of certain special districts and associations providing utility service.(Formerly SF 169.)
Electric cooperatives and municipal utilities; recovery of fixed costs clarified with respect to net metered facilities, meter aggregation allowed for electric cooperatives and municipal utilities, commission authority clarified with respect to electric cooperative practices, member access to cooperative documents and meetings improved, and electronic voting and voting by mail required for cooperative board directors.