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2014 Iowa Code
TITLE XIII - COMMERCE
SUBTITLE 5 - REGULATION OF COMMERCIAL ENTERPRISES
CHAPTER 552A - BUYING CLUB MEMBERSHIPS
SECTION 552A.4 - Limitation on membership period.


IA Code § 552A.4 (2014) What's This?

552A.4  Limitation on membership period.

A contract shall not be valid for a term longer than eighteen months from the date on which the contract is signed. However, a buying club may allow a member to convert the contract into a contract for a period longer than eighteen months after the member has been a member of the club for at least one year.  The duration of the contract shall be clearly and conspicuously disclosed in the contract in boldface type of a minimum size of fourteen points.

93 Acts, ch 60, §4

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