2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 523H - FRANCHISES
523H.11 - REPURCHASE OF ASSETS.

        523H.11  REPURCHASE OF ASSETS.
         A franchisor shall not prohibit a franchisee from, or enforce a
      prohibition against a franchisee, engaging in any lawful business at
      any location after a termination or refusal to renew by a franchisor,
      unless it is one which relies on a substantially similar marketing
      program as the terminated or nonrenewed franchise or unless the
      franchisor offers in writing no later than ten business days before
      expiration of the franchise to purchase the assets of the franchised
      business for its fair market value as a going concern.  The value of
      the assets shall not include the goodwill of the business
      attributable to the trademark licensed to the franchisee in the
      franchise agreement.  The offer may be conditioned upon the
      ascertainment of a fair market value by an impartial appraiser.  This
      section does not apply to assets of the franchised business which the
      franchisee did not purchase from the franchisor, or the agent of the
      franchisor.  

         92 Acts, ch 1134, § 11; 95 Acts, ch 117, §6