Iowa Code § 552A.1

Definitions

Applied in 1 court decision — leading case State of Iowa Ex Rel. Thomas J. Miller, Attorney General for Iowa v. Vertrue, Incorporated F/K/A Memberworks, Inc., a Delaware Corporation Adaptive Marketing, LLC, a Delaware Limited Liability Company Idaptive Marketing, LLC, a Delaware Limited Liability Company (2013)

Most recently applied in State of Iowa Ex Rel. Thomas J. Miller, Attorney General for Iowa v. Vertrue, Incorporated F/K/A Memberworks, Inc., a Delaware Corporation Adaptive Marketing, LLC, a Delaware Limited Liability Company Idaptive Marketing, LLC, a Delaware Limited Liability Company (July 2013)

As used in this chapter, unless the context otherwise requires:

1. “Buying club” means a corporation, partnership, unincorporated association, or other business enterprise which sells or offers for sale to the public generally memberships or certificates of membership.

2. “Contract” means the agreement by which a person acquires a membership in a buying club.

3. “Membership” means certificates, memberships, shares, bonds, contracts, stocks, or agreements of any kind or character issued upon any plan offered generally to the public entitling the holder to purchase merchandise, materials, equipment, or service, either from the issuer or another person designated by the issuer, either under a franchise or otherwise, whether it be at a discount, at cost plus a percentage, at cost plus a fixed amount, at a fixed price, or on any other similar basis.

93 Acts, ch 60, §1

Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.