535B.2 - EXEMPTIONS.
535B.2 EXEMPTIONS. This chapter, except for sections 535B.3, 535B.11, 535B.12, and 535B.13, does not apply to any of the following: 1. A bank, bank holding company, savings bank, savings and loan association, or credit union organized under the laws of this state, another state, or the United States, or a subsidiary owned or controlled by such a bank, bank holding company, savings bank, savings and loan association, or credit union. 2. A loan company licensed under chapter 536 or 536A. 3. An insurance company or a subsidiary or affiliate of an insurance company organized under the laws of this state, another state, or the United States, and subject to regulation by the commissioner of insurance. 4. Mortgage lenders or mortgage bankers maintaining an office in this state whose principal business in this state is conducted with or through mortgage lenders or mortgage bankers otherwise exempt under this section and which maintain a place of business in this state. 5. An individual who is employed by a person otherwise exempt under this section, or who, by contract, operates exclusively on behalf of a person otherwise exempt under this section to the extent that the individual is acting within the scope of the individual's employment or exclusive contract with the exempt person and is acting within the scope of the exempt person's charter, license, authority, approval, or certificate. 6. A real estate broker licensed under chapter 543B while engaged in practice as a real estate broker. 7. A nonprofit organization qualifying for tax-exempt status under the Internal Revenue Code as defined in section 422.3 which offers housing services to low and moderate income families.
Section History: Recent Form 88 Acts, ch 1146, §2; 89 Acts, ch 83, §76; 89 Acts, ch 133, §4, 5; 96 Acts, ch 1056, § 21; 2005 Acts, ch 83, §4, 10; 2008 Acts, ch 1160, §15 Referred to in § 535B.3, 558.70