§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]