502A.17 General authority to adopt rules, forms, and orders.
1. In addition to specific authority granted elsewhere in this chapter, the administrator may adopt rules and forms, pursuant to chapter 17A, and issue orders as are necessary to administer this chapter. Rules or forms to be adopted shall include, but need not be limited to, the following:
a. Rules defining any terms, whether or not used in this chapter, insofar as the definitions are not inconsistent with the provisions of this chapter.
b. For the purpose of rules or forms, the administrator may classify commodities and commodity contracts, persons, and matters within the administrator’s jurisdiction.
2. Unless specifically provided in this chapter, a rule, form, or order shall not be adopted or issued unless the administrator finds that the action is both of the following:
a. Necessary or appropriate in the public interest or for the protection of investors.
b. Consistent with the purposes fairly intended by the policy of this chapter.
3. All rules and forms of the administrator shall be published as provided in chapter 17A.
4. A provision of this chapter imposing any liability shall not apply to an act done or omitted in good faith in conformity with a rule or form adopted or order issued by the administrator, notwithstanding that the rule, order, or form may later be amended, or rescinded, or be determined by judicial or other authority to be invalid for any reason.
90 Acts, ch 1169, §16
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