General Assembly: 81 (2005 Regular GA) - Chapter 57 - Enterprise zone certification — application deadline

Published: 2005-04-27

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delivers to each purchaser at the earlier of the first personal meeting between the seller and thepurchaser, or ten business fourteendaysprior to the earlier of the executionby apurchaser of a contract imposing a binding legal obligation on the purchaser or the payment by a pur- chaser of any consideration in connection with the offer or sale of the business opportunity, one of the following disclosure documents: (1) A uniform franchise-offering circular prepared in accordance with the guidelines

adopted by the North American securities administrators association, inc., as amended through September 21, 1983. (2) A disclosure document prepared pursuant to the federal trade commission rule entitled

“Disclosure requirements and prohibitions concerning franchising and business opportunity ventures”, 16 C.F.R. § 436 (1979) or any successor regulation. For the purposes of this paragraph “b”, a personalmeetingmeans a face-to-facemeeting be-

tween the purchaser and the seller or their representatives, which is held for the purpose of discussing the offer or sale of a business opportunity.

Approved April 27, 2005


CH. 57CH. 57



S.F. 365

AN ACT relating to the application deadline for certification of enterprise zones.

Be It Enacted by the General Assembly of the State of Iowa:

Section 1. Section 15E.192, subsection 3, paragraph b, Code 2005, is amended to read as follows: b. A county or city may apply to the department for an area to be certified as an enterprise

zone at any time prior to July 1, 2005March 1, 2006. However, the total amount of land desig- nated as enterprise zones under subsections 1 and 2, and any other enterprise zones certified by the department, excluding those approved pursuant to section 15E.194, subsection 4, shall not exceed in the aggregate one percent of the total county area.

Approved April 27, 2005