Iowa Code § 557B.4: Exemptions.

The following transactions are exempt from registration:

1. An offer, sale, or transfer by any one person of not more than one membership camping contract in any twelve-month period.

2. An offer or sale by a government, government agency, or other subdivision of government.

3. A bona fide pledge of a membership camping contract.

4. Transactions subject to regulation pursuant to chapter 557A.