House Amendment 1074 PAG LIN 1 1 Amend House File 737 as follows: 1 2 #1. Page 2, by inserting after line 1, the 1 3 following: 1 4 <Sec. . Section 535B.2, Code 2005, is amended 1 5 to read as follows: 1 6 535B.2 EXEMPTIONS. 1 7 This chapter, except for sections 535B.3, 535B.11, 1 8 535B.12, and 535B.13, does not apply to any of the 1 9 following: 1 10 1. Anationalbank, bank holding company, savings 1 11 bank, savings and loan association, or credit union 1 12 organized under the laws of this state, another state, 1 13 or the United States, or a subsidiary or affiliate of 1 14 such a bank, bank holding company, savings bank, 1 15 savings and loan association, or credit union. 1 162. A federally chartered savings and loan 1 17 association.1 183. A federally chartered savings bank.1 194. A federally chartered credit union.1 205.2. A loan company licensed under chapter 536 1 21 or 536A. 1 226. A bank organized under chapter 524.1 237. A savings and loan association or savings bank 1 24 organized under chapter 534.1 258. A credit union organized under chapter 533.1 269.3. An insurance company or a subsidiary or 1 27 affiliate of an insurance company organized under the 1 28 laws of this state, another state, or the United 1 29 States, and subject to regulation by the commissioner 1 30 of insurance. 1 3110. A wholly owned subsidiary of an organization 1 32 listed in subsections 1 through 9 if the listed 1 33 organization has its principal place of business in 1 34 Iowa.1 3511. A bank, savings and loan association, credit 1 36 union, or insurance company organized or chartered 1 37 under the laws of any other state, provided the 1 38 financial institution or insurance company has a place 1 39 of business in Iowa or in a county of another state if 1 40 that county is contiguous to an Iowa border.1 4112.4. Mortgage lenders or mortgage bankers 1 42 maintaining an office in this state whose principal 1 43 business in this state is conducted with or through 1 44 mortgage lenders or mortgage bankers otherwise exempt 1 45 under this section and which maintain a place of 1 46 business in this state. 1 47 5. An insurance producer licensed under chapter 1 48 522B. 1 49 6. An individual who is employed by a person 1 50 otherwise exempt under this section, or who is under 2 1 an exclusive contract with a person otherwise exempt 2 2 under this section to the extent that the individual 2 3 is acting within the scope of the individual's 2 4 employment or exclusive contract with the exempt 2 5 person and is acting within the scope of the exempt 2 6 person's charter, license, authority, approval, or 2 7 certificate. 2 8 7. A real estate broker licensed under chapter 2 9 543B. 2 1013.8. A nonprofit organization qualifying for 2 11 tax=exempt status under the Internal Revenue Code as 2 12 defined in section 422.3 which offers housing services 2 13 to low and moderate income families. 2 14 Sec. . Section 535B.3, subsections 1 and 3, 2 15 Code 2005, are amended to read as follows: 2 16 1. A person exempt under section 535B.2, 2 17 subsection10, 11, 12, or 134 or 8, shall register 2 18 with the administrator. 2 19 3. The registrant, except a nonprofit organization 2 20 exempt under section 535B.2, subsection138, shall 2 21 pay an annual registration fee of one hundred 2 22 dollars.> 2 23 #2. Page 3, by inserting after line 29, the 2 24 following: 2 25 <Sec. . Section 558.70, subsection 4, Code 2 26 2005, is amended to read as follows: 2 27 4. This section applies to a contract seller who 2 28 entered into four or more residential real estate 2 29 contracts in the three hundred sixty=five days 2 30 previous to the contract seller signing the contract 2 31 disclosure statement. For purposes of this 2 32 subsection, two or more entities sharing a common 2 33 owner or manager are considered a single contract 2 34 seller. This section does not apply to an 2 35 organization listed in section 535B.2, subsections 1 2 36 through127.> 2 37 #3. By renumbering as necessary. 2 38 2 39 2 40 2 41 SANDS of Louisa 2 42 HF 737.201 81 2 43 av/sh/806 -1-