322.2 - DEFINITIONS.

        322.2  DEFINITIONS.         As used in this chapter and unless a different meaning appears      from the context:         1.  "At retail" means to dispose of a motor vehicle to a      person who will devote it to a consumer use.         2.  "Completed motor vehicle" means a motor vehicle which does      not require any additional manufacturing operations to perform its      intended function except the addition of readily attachable      equipment, components or minor finishing operations.         3.  "Department" means the state department of transportation.         4.  "Distributor" or "wholesaler" means a person, resident      or nonresident, who in whole or part, sells or distributes motor      vehicles to motor vehicle dealers, or who maintains distributor      representatives.         5.  "Distributor branch" means a branch office similarly      maintained by a distributor or wholesaler for the same purposes.         6.  "Distributor representative" means a representative      similarly employed by a distributor, distributor branch or      wholesaler.         7.  "Engaged in the business" means doing any of the following      acts for the purpose of the sale of motor vehicles at retail:      acquiring, selling, exchanging, holding, offering, displaying,      brokering, accepting on consignment, conducting a retail auction, or      acting as an agent for the purpose of doing any of those acts.  A      person selling at retail more than six motor vehicles during a      twelve-month period may be presumed to be engaged in the business.         8.  "Factory branch" means a branch office maintained by a      person who manufactures or assembles motor vehicles, for the sale of      motor vehicles to distributors, or for the sale of motor vehicles to      motor vehicle dealers or for directing or supervising in whole or      part, its representatives.         9.  "Factory representative" means a representative employed      by a person who manufactures or assembles motor vehicles or by a      factory branch, for the purpose of making or promoting the sale of      its motor vehicles, or for supervising or contacting its dealers or      prospective dealers.         10.  The "holder" of a retail installment contract means the      retail seller of the motor vehicle under or subject to the contract      or, if the contract is purchased by a sales finance company or other      assignee, the sales finance company or other assignee.         11.  "Manufacturer" means any person engaged in the business      of fabricating or assembling motor vehicles.  It does not include a      person who converts, modifies, or alters a completed motor vehicle      manufactured by another person.  It includes a person who uses a      completed motor vehicle manufactured by another person to construct a      class "B" motor home as defined in section 321.124.         12.  "Motor vehicle" means any self-propelled vehicle subject      to registration under chapter 321.         13.  "Person" includes any individual, firm, corporation,      partnership, joint adventure, or association, and the plural as well      as the singular number.         14.  "Place of business" means a designated location wherein      proper and adequate facilities shall be maintained for displaying,      reconditioning, and repairing either new or used cars.         15.  "Retail buyer" or "buyer" means a person who buys a      motor vehicle from a retail seller.         16.  "Retail installment contract" or "contract" means an      agreement, entered into in this state, pursuant to which the title      to, the property in or a lien upon the motor vehicle, which is the      subject matter of a retail installment transaction, is retained or      taken by a retail seller from a retail buyer as security, in whole or      in part, for the buyer's obligation.  The term includes a chattel      mortgage, a conditional sales contract and a contract for the      bailment or leasing of a motor vehicle by which the bailee or lessee      contracts to pay as compensation for its use a sum substantially      equivalent to or in excess of its value and by which it is agreed      that the bailee or lessee is bound to become, or has the option of      becoming, the owner of the motor vehicle upon full compliance with      the provisions of the contract.         17.  "Retail installment transaction" means any sale evidenced      by a retail installment contract between a retail buyer and a retail      seller wherein the retail buyer buys a motor vehicle from a retail      seller at a time price payable in one or more installments.         18.  "Retail seller" or "seller" means a person who sells      a motor vehicle to a retail buyer.         19.  "Sales finance company" means a person engaged, in whole      or in part, in the business of purchasing retail installment      contracts from one or more retail sellers.  The term also includes a      retail seller engaged, in whole or in part, in the business of      creating and holding retail installment contracts.  The term does not      include the pledgee of an aggregate number of such contracts to      secure a bona fide loan thereon.         20.  "Selling" includes bartering, exchanging, delivering, or      otherwise dealing in.         21.  "Special equipment" means equipment installed on a motor      truck which, in combination with the motor truck on which the      equipment is installed, constitutes a self-contained unit configured      for a specific purpose.  To constitute special equipment, a minimum      of seven thousand five hundred dollars or twenty-five percent of the      retail value of the motor truck, whichever is greater, must be      expended in installing the equipment on the motor truck, including      the cost of the equipment.  "Special equipment" does not include      equipment designed for the transportation of passengers.         22.  "Used motor vehicle" or "second-hand motor vehicle"      means any motor vehicle of a type subject to registration under the      laws of this state which has been sold "at retail" as defined in this      chapter and previously registered in this or any other state.         Nothing contained herein shall be construed to require the      licensing or to apply to any bank, credit union or trust company in      Iowa.  
         Section History: Early Form
         [C39, § 5039.02; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79,      81, § 322.2] 
         Section History: Recent Form
         97 Acts, ch 108, §35; 2000 Acts, ch 1134, §4; 2001 Acts, ch 32,      §29; 2008 Acts, ch 1032, §106