Iowa § 502A.3 Exempt person transactions

Iowa Statutes

§ 502A.3 — Exempt person transactions

Iowa § 502A.3

Title XIIBUSINESS ENTITIES

Ch. 502ACOMMODITIES CODE

This text of Iowa § 502A.3 (Exempt person transactions) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 502A.3 (2026).

Text

1.The prohibitions in section 502A.2 do not apply to a transaction in which any of the following persons, or any employee, officer, or director of a listed person acting solely in that capacity, is the purchaser or seller:

a.A person registered with the commodity futures trading commission as a futures commission merchant or as a leverage transaction merchant whose activities require such registration.

b.A person registered with the securities and exchange commission as a broker-dealer whose activities require such registration.

c.A person affiliated with, and whose obligations and liabilities under the transaction are guaranteed by, a person referred to in paragraph “a” or “b”.

d.A person who is a member of a contract market designated by the commodity futures trading commission, or

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1. The prohibitions in section 502A.2 do not apply to a transaction in which any of the
following persons, or any employee, officer, or director of a listed person acting solely in that
capacity, is the purchaser or seller:
a. A person registered with the commodity futures trading commission as a futures
commission merchant or as a leverage transaction merchant whose activities require such
registration.
b. A person registered with the securities and exchange commission as a broker-dealer
whose activities require such registration.
c. A person affiliated with, and whose obligations and liabilities under the transaction are
guaranteed by, a person referred to in paragraph “a” or “b”.
d. A person who is a member of a contract market designated by the commodity futures
trading commission, or any CFTC clearinghouse.
e. A financial institution.
f. A person registered under the laws of this state as a securities broker-dealer whose
activities require such registration.
2. This exemption provided by this section does not apply to any transaction or activity
which is prohibited by the Commodity Exchange Act or CFTC rule.