191—50.65 (502) Reports contingent to registration by qualification. In the administrator’s discretion, a registration by qualification statement filed pursuant to Iowa Code section 502.304 may not become effective until one or both of the following are filed:
	  1. 	 When the value, after its purchase, of certain property does or will constitute a material portion of the assets of the issuer or any other person whose financial condition is significant to the registration, the report of any appraiser or engineer; and
	  2. 	 When the ownership of any such property is material to the registration, a signed opinion of legal counsel regarding ownership of any property.
This rule is intended to implement Iowa Code section 502.304(2A).