§484-8.8  Receipt for amended public
offering statement.  (a)  Whenever the director requires pursuant to
section 484-8.6(b) that an amended public offering statement be prepared by the
subdivider, the subdivider shall obtain a receipt therefor from each purchaser
or prospective purchaser who signed a sales contract or reservation agreement
to purchase subdivided lands before the issuance of the director's final
order.  If the amended public offering statement is delivered to the purchaser
or prospective purchaser by certified or registered mail, return receipt
requested, and the prospective purchaser does not execute and return the
purchaser's receipt for the amended public offering statement within seven days
from the date of delivery, the purchaser shall be deemed to have receipted for
it; provided that the receipt shall be effective only if at the time of the
delivery of the amended public offering statement the prospective purchaser is
notified in writing of the fact that the purchaser will be deemed to have
executed the receipt for it upon the purchaser's failure to act within the
seven-day period.



(b)  Receipts taken for any amended public
offering statement shall be kept on file in possession of the subdivider,
subject to inspection at any reasonable time by the director, for a period of
three years from the date the receipt was taken. [L 1983, c 175, pt of §8; am L
1992, c 132, §11]