557B.4  Exemptions.
  The following transactions are exempt from registration:
  1.  An offer, sale, or transfer by any one person of not more than one membership camping contract in any twelve-month period.
  2.  An offer or sale by a government, government agency, or other subdivision of government.
  3.  A bona fide pledge of a membership camping contract.
  4.  Transactions subject to regulation pursuant to chapter 557A.
87 Acts, ch 181, §8
Referred to in §502.201, 557B.2