# Iowa Code § 502.204: Denial, suspension, revocation, condition, or limitation of exemptions

> Iowa · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.204

## Section

- **Citation:** Iowa Code § 502.204
- **Heading:** Denial, suspension, revocation, condition, or limitation of exemptions
- **Jurisdiction:** Iowa
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** IA Code / Title XII / Chapter 502 / Section 502.204

## Text

(1) Except with respect to a federal covered security or a transaction involving a federal covered security, an order under this chapter may deny, suspend application of, condition, limit, or revoke an exemption created under section 502.201, subsection 3, paragraph “c”, or subsection 7, 8A, or 8B, or section 502.202, or an exemption or waiver created under section 502.203 with respect to a specific security, transaction, or offer. An order under this section may be issued only pursuant to the procedures in section 502.306, subsection 4, or section 502.604, and only prospectively.

(2) A person does not violate section 502.301, 502.303 through 502.306, 502.504, or 502.510 by an offer to sell, offer to purchase, sale, or purchase effected after the entry of an order issued under this section if the person did not know, and in the exercise of reasonable care could not have known, of the order.

[C31, 35, §8581-c4; C39, §8581.04; C46, 50, 54, 58, 62, 66, 71, 73, 75, §502.4(5); C77, 79, 81, §502.204]2004 Acts, ch 1161, §8, 68; 2005 Acts, ch 19, §75

## Nearby sections

- [Iowa Code § 502.101 Short title.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.101.md)
- [Iowa Code § 502.102 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.102.md)
- [Iowa Code § 502.103 References to federal statutes.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.103.md)
- [Iowa Code § 502.104 References to federal agencies.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.104.md)
- [Iowa Code § 502.105 Electronic records and signatures.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.105.md)
- [Iowa Code § 502.201 Exempt securities.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.201.md)
- [Iowa Code § 502.202 Exempt transactions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.202.md)
- [Iowa Code § 502.203 Additional exemptions and waivers.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.203.md)
- [Iowa Code § 502.204 Denial, suspension, revocation, condition, or limitation of exemptions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.204.md)
- [Iowa Code § 502.205 Section 502.205](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.205.md)
- [Iowa Code § 502.206 Section 502.206](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.206.md)
- [Iowa Code § 502.206A Section 502.206A](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.206A.md)
- [Iowa Code § 502.207 Section 502.207](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.207.md)
- [Iowa Code § 502.207A Section 502.207A](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.207A.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IA_TXII_C502_S502.204. Check the current official text before relying on it. Not legal advice.