Iowa Code 535C.10 – Remedies
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Terms Used In Iowa Code 535C.10
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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
- Fraud: Intentional deception resulting in injury to another.
535C.10 Remedies.
1. If a broker materially violates the loan brokerage agreement, the borrower may, upon
written notice, void the agreement. In addition, the borrower may recover all moneys paid the broker, a penalty of twice the amount of the fee sought by the broker, other damages, and reasonable attorney fees. A material violation includes but is not limited to any of the following:
a. Making false or misleading statements relative to the agreement.
b. Failure to comply with the agreement or the obligations arising from the agreement.
c. Failure to either grant the borrower a loan or issue a credit card or diligently attempt to obtain a loan or credit card for the borrower.
d. Failure to comply with the requirements of this chapter.
e. Soliciting or obtaining, directly or indirectly, an advance fee.
2. A violation of this chapter is a violation of the Iowa consumer fraud Act, § 714.16.
3. Remedies under this chapter are in addition to other remedies available in law or equity.
83 Acts, ch 146, §10; 93 Acts, ch 60, §18
Referred to in §714.16
1. If a broker materially violates the loan brokerage agreement, the borrower may, upon
written notice, void the agreement. In addition, the borrower may recover all moneys paid the broker, a penalty of twice the amount of the fee sought by the broker, other damages, and reasonable attorney fees. A material violation includes but is not limited to any of the following:
a. Making false or misleading statements relative to the agreement.
b. Failure to comply with the agreement or the obligations arising from the agreement.
c. Failure to either grant the borrower a loan or issue a credit card or diligently attempt to obtain a loan or credit card for the borrower.
d. Failure to comply with the requirements of this chapter.
e. Soliciting or obtaining, directly or indirectly, an advance fee.
2. A violation of this chapter is a violation of the Iowa consumer fraud Act, § 714.16.
3. Remedies under this chapter are in addition to other remedies available in law or equity.
83 Acts, ch 146, §10; 93 Acts, ch 60, §18
Referred to in §714.16