Iowa Code 538A.6 – Disclosure statement
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Terms Used In Iowa Code 538A.6
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Trustee: A person or institution holding and administering property in trust.
538A.6 Disclosure statement.
1. Before executing a contract or agreement with a buyer, or receiving money or other valuable consideration, a credit services organization shall provide the buyer with a statement in writing, containing all of the following:
a. A complete and detailed description of the services to be performed by the credit services organization for the buyer and the total cost of the services.
b. A statement explaining the buyer’s rights to proceed against the bond or surety account required by § 538A.4.
c. The name and address of the surety company which issued the bond, or the name and address of the depository and the trustee, and the account number of the surety account.
2. The credit services organization shall maintain on file for a period of two years after the date the statement is provided, an exact copy of the statement, signed by the buyer, acknowledging receipt of the statement.
89 Acts, ch 183, §6
CS89, §533C.6
C93, §538A.6
1. Before executing a contract or agreement with a buyer, or receiving money or other valuable consideration, a credit services organization shall provide the buyer with a statement in writing, containing all of the following:
a. A complete and detailed description of the services to be performed by the credit services organization for the buyer and the total cost of the services.
b. A statement explaining the buyer’s rights to proceed against the bond or surety account required by § 538A.4.
c. The name and address of the surety company which issued the bond, or the name and address of the depository and the trustee, and the account number of the surety account.
2. The credit services organization shall maintain on file for a period of two years after the date the statement is provided, an exact copy of the statement, signed by the buyer, acknowledging receipt of the statement.
89 Acts, ch 183, §6
CS89, §533C.6
C93, §538A.6