§ 502.610 — Jurisdiction

Iowa § 502.610

• Jurisdiction: Iowa
• Title XII: BUSINESS ENTITIES
• Ch. 502: UNIFORM SECURITIES ACT (BLUE SKY LAW)

Text

1. Sales and offers to sell. Sections 502.301, 502.302, section 502.401, subsection 1,
section 502.402, subsection 1, section 502.403, subsection 1, section 502.404, subsection 1,
and sections 502.501, 502.506, 502.509, and 502.510 do not apply to a person that sells or
offers to sell a security unless the offer to sell or the sale is made in this state or the offer to
purchase or the purchase is made and accepted in this state.
2. Purchases and offers to purchase. Section 502.401, subsection 1, section 502.402,
subsection 1, section 502.403, subsection 1, section 502.404, subsection 1, and sections
502.501, 502.506, 502.509, and 502.510 do not apply to a person that purchases or offers to
purchase a security unless the offer to purchase or the purchase is made in this state or the
offer to sell or the sale is made and accepted in this state.
3. Offers in this state. For the purpose of this section, an offer to sell or to purchase a
security is made in this state, whether or not either party is then present in this state, if any
of the following apply to the offer:
a. The offer originates from within this state.
b. The offer is directed by the offeror to a place in this state and received at the place to
which it is directed.
4. Acceptances in this state. For the purpose of this section, an offer to purchase or to
sell is accepted in this state, whether or not either party is then present in this state, if all of
the following apply to the acceptance:
a. The acceptance is communicated to the offeror in this state and the offeree reasonably
believes the offeror to be present in this state and the acceptance is received at the place in
this state to which it is directed.
b. The acceptance has not previously been communicated to the offeror, orally or in a
record, outside this state.
5. Publications, radio, television, or electronic communications. An offer to sell or to
purchase is not made in this state when a publisher circulates or there is circulated on the
publisher’s behalf in this state a bona fide newspaper or other publication of general, regular,
and paid circulation that is not published in this state, or that is published in this state but
has had more than two-thirds of its circulation outside this state during the previous twelve
months or when a radio or television program or other electronic communication originating
outside this state is received in this state. A radio or television program, or other electronic
communication, is considered as having originated in this state if either the broadcast studio
or the originating source of transmission is located in this state, unless any of the following
apply:
a. The program or communication is syndicated and distributed from outside this state
for redistribution to the general public in this state.
b. The program or communication is supplied by a radio, television, or other electronic
network with the electronic signal originating from outside this state for redistribution to the
general public in this state.
c. The program or communication is an electronic communication that originates outside
this state and is captured for redistribution to the general public in this state by a community
antenna or cable, radio, cable television, or other electronic system.
d. Theprogramorcommunicationconsistsofanelectroniccommunicationthatoriginates
in this state, but which is not intended for distribution to the general public in this state.
6. Investment advice and misrepresentations. Section 502.403, subsection 1, section
502.404, subsection 1, section 502.405, subsection 1, and sections 502.502, 502.505, and
502.506 apply to a person if the person engages in an act, practice, or course of business
instrumental in effecting prohibited or actionable conduct in this state, whether or not either
party is then present in this state.

Legislative History

[C77, 79, 81, §502.610]