The following transactions are exempt from registration:
1. An offer, sale, or transfer by any one person of not more than one membership camping contract in any twelve-month period.
Terms Used In Iowa Code 557B.4
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Membership camping contract: means an agreement offered or sold within this state evidencing a purchaser's right to use a campground of a membership camping operator for more than thirty days during the term of the agreement. See Iowa Code 557B.1
- month: means a calendar month, and the word "year" and the abbreviation "A. See Iowa Code 4.1
- Offer: means an inducement, solicitation, or attempt to encourage a person to acquire a membership camping contract. See Iowa Code 557B.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
2. An offer or sale by a government, government agency, or other subdivision of government.
3. A bona fide pledge of a membership camping contract.
4. Transactions subject to regulation pursuant to chapter 557A.