Title XII, BUSINESS ENTITIES (Ch. 486 - 504C)

1. A person who willfully violates either of the following shall, upon conviction, be fined not more than twenty thousand dollars or be imprisoned not more than ten years, or both, for each violation. a. This chapter . b. A rule or order of the administrator under this chapter . …

1. This chapter shall be administered by the administrator of the securities and regulated industries bureau of the insurance division of the department of insurance and financial services. 2. The administrator or any employees of the administrator shall not use any information w…

1. To encourage uniform application and interpretation of this chapter and securities regulation and enforcement in general, the administrator and the employees of the administrator may cooperate, including bearing the expense of the cooperation, with the securities agencies or a…

1. In addition to specific authority granted elsewhere in this chapter , the administrator may adopt rules and forms, pursuant to chapter 17A , and issue orders as are necessary to administer this chapter . Rules or forms to be adopted shall include, but need not be limited to, t…

When a person, including a nonresident of this state, engages in conduct prohibited or made actionable by this chapter or any rule or order of the administrator, the conduct shall constitute the appointment of the administrator as the person’s attorney to receive service of any l…

1. Sections 502A.2 , 502A.5 , and 502A.6 apply to a person who sells or offers to sell when either of the following occurs: a. An offer to sell is made in this state. b. An offer to buy is made and accepted in this state. 2. Sections 502A.2 , 502A.5 , and 502A.6 apply to a person…

Except as otherwise provided in section 502A.3 or 502A.4 , a person shall not sell or purchase, or offer to sell or purchase, a commodity under a commodity contract, or under a commodity option, or offer to enter into, or enter into as seller or purchaser, a commodity contract or…

The filing of a petition for judicial review pursuant to chapter 17A does not, unless specifically ordered by the court, operate as a stay of the administrator’s order, and the administrator may enforce or ask the court to enforce the order pending the outcome of the review proce…

It is not necessary for the state to plead the absence of an exemption under this chapter in a complaint, information, or indictment, or a writ or proceeding brought under this chapter . The burden of proof of a claimed exemption is upon the party claiming the exemption. 90 Acts,…

It is an affirmative defense in a complaint, information, indictment, writ, or proceeding brought under this chapter alleging a violation of section 502A.2 based solely on the failure in an individual case to make physical delivery within the applicable time period under section …

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 tradin…

1. Section 502A.2 does not apply to any of the following: a. An account, agreement, or transaction within the exclusive jurisdiction of the commodity futures trading commission as granted under the Commodity Exchange Act. b. A commodity contract, offered or sold by a qualified se…

1. A person shall not engage in a trade or business or otherwise act as a commodity merchant unless the person is either of the following: a. Registered or temporarily licensed with the commodity futures trading commission for each activity constituting the person as a commodity …

A person shall not directly or indirectly do any of the following in or in connection with the purchase or sale of, the offer to sell, the offer to purchase, the offer to enter into, or the entry into of, a commodity contract or commodity option subject to section 502A.2 , 502A.3…

1. The act, omission, or failure of an official, agent, or other person acting for an individual, association, partnership, corporation, or trust within the scope of the person’s employment or office shall be deemed the act, omission, or failure of the individual, association, pa…

This chapter does not impair, derogate, or otherwise affect the authority or powers of the administrator under chapter 502 or the application of any provision of chapter 502 to a person or transaction subject to that chapter. 90 Acts, ch 1169, §8

This chapter may be construed and implemented to effectuate its general purpose to protect investors, to prevent and prosecute illegal and fraudulent schemes involving commodity contracts and to maximize coordination with federal and other states’ laws and the administration and …