# Iowa Code § 502A.3: Exempt person transactions > Iowa · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.3 ## Section - **Citation:** Iowa Code § 502A.3 - **Heading:** Exempt person transactions - **Jurisdiction:** Iowa - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** IA Code / Title XII / Chapter 502A / Section 502A.3 ## Text (1) The prohibitions in section 502A.2 do not apply to a transaction in which any of the following persons, or any employee, officer, or director of a listed person acting solely in that capacity, is the purchaser or seller: (1) (a) A person registered with the commodity futures trading commission as a futures commission merchant or as a leverage transaction merchant whose activities require such registration. (1) (b) A person registered with the securities and exchange commission as a broker-dealer whose activities require such registration. (1) (c) A person affiliated with, and whose obligations and liabilities under the transaction are guaranteed by, a person referred to in paragraph “a” or “b”. (1) (d) A person who is a member of a contract market designated by the commodity futures trading commission, or any CFTC clearinghouse. (1) (e) A financial institution. (1) (f) A person registered under the laws of this state as a securities broker-dealer whose activities require such registration. (2) This exemption provided by this section does not apply to any transaction or activity which is prohibited by the Commodity Exchange Act or CFTC rule. 90 Acts, ch 1169, §3; 2012 Acts, ch 1023, §100 ## Nearby sections - [Iowa Code § 502A.1 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.1.md) - [Iowa Code § 502A.2 Unlawful commodity transactions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.2.md) - [Iowa Code § 502A.3 Exempt person transactions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.3.md) - [Iowa Code § 502A.4 Exempt transactions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.4.md) - [Iowa Code § 502A.5 Unlawful commodity activities.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.5.md) - [Iowa Code § 502A.6 Fraudulent conduct.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.6.md) - [Iowa Code § 502A.7 Liability of principals, controlling persons, and others.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.7.md) - [Iowa Code § 502A.8 Securities laws unaffected.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.8.md) - [Iowa Code § 502A.9 Purpose.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.9.md) - [Iowa Code § 502A.11 Investigations.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.11.md) - [Iowa Code § 502A.12 Enforcement of chapter.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.12.md) - [Iowa Code § 502A.13 Power of court to grant relief.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.13.md) - [Iowa Code § 502A.14 Criminal penalties.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.14.md) - [Iowa Code § 502A.15 Administration of chapter.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.15.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502A_S502A.3. Check the current official text before relying on it. Not legal advice.