This text of Iowa § 543C.3 (Offering statement — contents — prohibitions) 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.
1.There may be omitted from the offering statement any of the information required
under section 543C.2, subsection 1, paragraphs “f”, “i”, and “j”, which the commission may
by a properly promulgated rule designate as being unnecessary or inappropriate for the
protection of the public interest or a purchaser.
2.No offer to sell or lease subdivided land by any means of advertisement shall be
made unless a copy of such advertisement has first been filed with the board. All such
advertisements shall state that an offering statement has been filed with the commission and
that a copy of such statement is available from the subdivider upon request.
3.Except as provided in subsection 1, no offer to sell or lease subdivided land shall be
made unless such offer is accompanied by a copy of the cu
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1. There may be omitted from the offering statement any of the information required
under section 543C.2, subsection 1, paragraphs “f”, “i”, and “j”, which the commission may
by a properly promulgated rule designate as being unnecessary or inappropriate for the
protection of the public interest or a purchaser.
2. No offer to sell or lease subdivided land by any means of advertisement shall be
made unless a copy of such advertisement has first been filed with the board. All such
advertisements shall state that an offering statement has been filed with the commission and
that a copy of such statement is available from the subdivider upon request.
3. Except as provided in subsection 1, no offer to sell or lease subdivided land shall be
made unless such offer is accompanied by a copy of the current offering statement filed
pursuant to this chapter.
4. The first page of the offering statement employed in the sale or lease, or offer for sale
or lease, of subdivided land shall contain a legible statement printed in at least sixteen point
bold type which shall be at least four point type larger than the body of the document that the
filingoftheverifiedstatementandofferingstatementwiththecommissiondoesnotconstitute
approval of the sale or lease, or offer for sale or lease, by the state, commission or any officer
thereof, or that the state, commission or any officer thereof, has in any way passed upon the
merits of such offering.
5. No sale or lease of subdivided land shall be made unless accompanied or preceded
by the delivery to the prospective purchaser of an offering statement complying with the
provisions of this section.
6. No offering statement shall be changed or amended unless a copy of such change or
amendment has first been filed with the commission.
7. The subdivider shall, within thirty days after the first day of July of each year, file with
the commission a current offering statement setting forth all changes which have taken place
during the preceding year with respect to any information required to be set forth in such
offering statement. Only a current offering statement shall be used to sell or lease, or offer
to sell or lease, any subdivided land.
8. A fee of one hundred dollars shall be paid, plus ten dollars for each one hundred lots,
units, parcels, portions, or interest included in the current offering statement.