Iowa Code § 478.12: Acceptance of franchise.

Any person, company, or corporation obtaining a franchise as provided in this chapter, or owning or operating under one, shall be conclusively held to an acceptance of the provisions of this chapter and of all laws relating to the regulation, supervision, or control of franchises which are now in force or which may be hereafter enacted, and to have consented to such reasonable regulation as the utilities commission may, from time to time, prescribe. The provisions of this chapter shall apply equally to assignees as well as to original owners.