Iowa Code 535.4 – Illegal rate prohibited — usury
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Terms Used In Iowa Code 535.4
- Contract: A legal written agreement that becomes binding when signed.
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- property: includes personal and real property. See Iowa Code 4.1
- Usury: Charging an illegally high interest rate on a loan. Source: OCC
535.4 Illegal rate prohibited — usury.
No person shall, directly or indirectly, receive in money or in any other thing, or in any
manner, any greater sum or value for the loan of money, or upon contract founded upon any sale or loan of real or personal property, than is in this chapter prescribed.
[R60, §1790; C73, §2079; C97, §3040; C24, 27, 31, 35, 39, §9406; C46, 50, 54, 58, 62, 66, 71,
73, 75, 77, 79, S79, C81, §535.4]
Referred to in §535.2
No person shall, directly or indirectly, receive in money or in any other thing, or in any
manner, any greater sum or value for the loan of money, or upon contract founded upon any sale or loan of real or personal property, than is in this chapter prescribed.
[R60, §1790; C73, §2079; C97, §3040; C24, 27, 31, 35, 39, §9406; C46, 50, 54, 58, 62, 66, 71,
73, 75, 77, 79, S79, C81, §535.4]
Referred to in §535.2