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Terms Used In Iowa Code 524.902

  • Contract: A legal written agreement that becomes binding when signed.
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
524.902 General lending powers of a state bank.
1. A state bank may, subject to any applicable restrictions under other provisions of this
chapter, loan money, extend credit and discount or purchase evidences of indebtedness and agreements for the payment of money.
2. Nothing in this chapter is deemed to permit a state bank to purchase a vendee’s interest in a real property sales contract, provided, however, that a state bank may loan or extend credit on the security of such an interest.
[C97, §1844, 1850, 1870; S13, §1850; SS15, §1870; C24, 27, 31, 35, 39, §9162, 9184, 9223;
C46, 50, 54, 58, 62, 66, §526.7, 526.29, 528.14; C71, 73, 75, 77, 79, 81, §524.902]
92 Acts, ch 1161, §3
Referred to in §524.901