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Chapter 537: Consumer Credit Code


The general assembly of the state of Iowa hereby declares and states that it does not want any of the provisions of Public Law No. 96-221 (94 stat. 132), section 501, subsection (a), paragraph (1), to apply with respect to loans, mortgages, credit sales, and advances made in this state; and that it does not want any of the provisions of Public Law No. 96-221 (94 stat. 132), Part B (section 511, subsections (a) and (b)), to apply with respect to loans made in this state; and that it does not want any of the provisions of any of the amendments contained in Public Law No. 96-221 (94 stat. 132), sections 521, 522 and 523 to apply with respect to loans made in this state; and that it does not want any of the provisions of Public Law No. 96-221 (94 stat. 132), section 524 to apply with respect to loans made in this state. It is the intent of the general assembly of the state of Iowa in enacting this section to exercise all authority granted by Congress and to satisfy all requirements imposed by Congress in Public Law No. 96-221 (94 stat. 132), section 501, subsection (b), paragraph (2), and section 512, and section 524, subsection (i), paragraph (3), and section 525, for the purpose of rendering the provisions of Public Law No. 96-221 (94 stat. 132), Title V, inapplicable in this state. [80 Acts, ch 1156, 32]


Article 1 - General Provisions and Definitions
Section
Number
Description
Part 1 - Short Title, Construction, Gerneral Provisions
1101 Short Title
1102 Purposes - Rules of Construction
1103 Law Applicable
1104 Construction
1105 Reserved
1106 Reserved
1107 Waiver - Agreement - Settlement
1108 Effect on Organizations
1109 Reserved
1110 Obligation of Good Faith
Part 2 - Scope and Jurisdiction
1201 Territorial Application
1202 Exclusions
1203 Jurisdiction - Service of Process
Part 3 - Definitions
1301 General Definitions
1302 Definition-Truth in Lending Act
1303 Other Defined Terms

Article 2 - Finance Charges and Related Provisions
Section Number Description
Part 1 - Gerneral Provisions
2101 Short Title
2102 Scope
Part 2 - Consumer Credit Sales: Maximum Finance Charges
2201 Finance Charge for Consumer Credit Sales not Pursuant to Open-End Credit
2202 Finance Charge for Consumer Credit Sales Pursuant to Open-End Credit
Part 3 - Supervised Loans
2301 Authority to Make Supervised Loans
2302 Reserved
2303 Revocation of Suspension of License
2304 Records - Annual Reports
2305 Examinations and Investigations
2306 Reserved
2307 Restrictions on Interest in Land as Security
2308 Regular Schedule of Payments - Maximum Loan Term
2309 No Other Business for Purpose of Evasion
2310 Conduct of Business Other Than Making Loans
Part 4 - Consumer Loans: Maximum Finance Charges
2401 Finance Charge for Consumer Loans Not Pursuant to Open-End Credit
2402 Finance Charge for Consumer Loans Pursuant to Open-End Credit
Part 5 - Consumer Credit Transactions: Other Charges and Modifications
2501 Additional Charges
2502 Delinquency Charges
2503 Deferral Charges
2504 Finance Charge on Refinancing
2505 Finance Charge on Consolidation
2506 Advances to Perform Covenants of Consumer
2507 Attorney's Fees
2508 Conversion to Open-End Credit
2509 Right to Prepay
2510 Rebate Upon Prepayment
Part 6 - Other Credit Transactions
2601 Charges for Other Credit Transactions
2602 Repealed by 79 Acts, ch 130, 30

Article 3 - Regulation of Agreements and Practices
Section Number Description
Part 1 - Gerneral Provisions
3101 Short Title
3102 Scope
Part 2 - Disclosure
3201 Compliance with Truth in Lending Act
3202 Consumer Leases
3203 Notice to Consumer
3204 Notice of Assignment
3205 Change in Terms of Open-End Credit Accounts
3206 Receipt - Statements of Account - Evidence of Payment
3207 Form of Insurance Premium Loan Agreement
3208 Notice to Cosigners and Similar Parties
3209 Advertising
32010 Prohibited Statements Relating to Rates
3211 Notice of Consumer Paper
3212 Notice of Methods of Financing and Rates
Part 3 - Limitations on Agreements and Practices
3301 Security in Consumer Credit Transactions
3302 Cross-Collateral
3303 Debt Secured by Cross-Collateral
3304 Use of Multiple Agreements
3305 No Assignment of Earnings
3306 Authorization to Confess Judgment Prohibited
3307 Certain Negotiable Instruments Prohibited
3308 Balloon Payments
3309 Referral Sales and Leases
3310 Limitations on Executory Transactions
3311 Discrimination Prohibited
Part 4 - Limitations on Consumer's Liability
3401 Restriction on Liability in Consumer Lease
3402 Limitation on Default Charges
3403 Card Issuer Subject to Claims and Defenses
3404 Assignee Subject to Claims and Defenses
3405 Lender Subject to Defenses Arising From Sales and Leases
Part 5 - Home Solicitation Sales
3501 Door-to-Door Sales
Part 6 - Consumer Rental Purchase Agreements
3601 Short Title
3602 Purposes - Rules of Construction
3603 Exclusions
3604 General Definitions
3605 Disclosures
3606 Form Requirements
3607 Receipts
3608 Acquiring Ownership
3609 Renegotiation
3610 Balloon Payments Prohibited
3611 Prohibited Charges
3612 Additional Charges
3613 Reinstatement Fees
3614 Taxes and Official Fees
3615 Advertising
3616 Lessee's Reinstatement Rights
3617 Unconscionability
3618 Default
3619 Cure of Default
3620 Willful and Intentional Violations
3621 Damages
3622 Effect of Correction
3623 Statute of Limitations
3624 Enforcement

Article 4 - Insurance
Section Number Description
4101 Scope - Excess Charges

Article 5 - Remedies and Penalties
Section Number Description
Part 1 - Limitations on Creditors' Remedies
5101 Short Title
5102 Scope
5103 Creditor's Obligations on Repossession - Restriction on Deficiency Judgments
5104 No Garnishment Before Judgment
5105 Limitation on Garnishment
5106 Garnishment
5107 Extortionate or Unlawful Extensions of Credit
5108 Unconscionability - Inducement by Unconscionable Conduct - Unconscionable Debt Collection
5109 Default
5110 Cure of Default
5111 Notice of Right to Cure
5112 Reserved
5113 Venue
5114 Complaint- Proof
5115 Reserved
Part 2 - Consumers' Remedies
5201 Effect of Violations on Rights of Parties
5202 Damages or Penalties as Setoff to Obligation
5203 Civil Liability for Violation of Disclosure Provisions
Part 3 - Criminal Penalties
5301 Willful Violations
5302 Disclosure Violations

Article 6 - Administration
Section Number Description
Part 1 - Powers and Functions of Administrator
6101 Short Title
6102 Applicability
6103 Administrator
6104 Powers of Administrator - Reliance on Rules - Duty to Report
6105 Administrative Powers with Respect to Supervised Financial Organizations and Supervised Loan Licensees
6106 Investigatory Powers
6107 Reserved
6108 Administrative Enforcement Orders
6109 Assurance of Discontinuance
6110 Injunctions and Other Proceedings in Equity
6111 Injunctions Against Unconscionable Agreements and Fraudulent or Unconscionable Conduct
6112 Temporary Relief
6113 Civil Actions by Administrator
6114 Reserved
6115 Consumer's Remedies not Affected
6116 Venue
6117 Administrative Rules
Part 2 - Notification and Fees
6201 Applicability
6202 Notification
6203 Fees
6204 Repealed by 76 Acts, Ch 1212, 8

Article 7 - Debt Collection Practices
Section Number Description
7101 Short Title
7102 Definitions
7103 Prohibited Practices

Article 8 - Check Cashing Practices
Section Number Description
8101 Provision of Credit Card Number as Condition of Check Cashing or Acceptance Prohibited
 


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