Iowa Code 536A.3 – License
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Terms Used In Iowa Code 536A.3
- 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
- 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
- year: means twelve consecutive months. See Iowa Code 4.1
536A.3 License.
With respect to a loan other than a consumer loan, a person shall not engage in the
business of operating an industrial loan company in this state without first having obtained a license from the superintendent. With respect to a consumer loan, a person required by § 537.2301 to have a license is not authorized to engage in the business of operating an industrial loan company without first obtaining a license from the superintendent. A person that enters into less than ten supervised loans per year in this state and that neither has an office physically located in this state nor engages in face-to-face solicitation in this state may contract for and receive the rate of interest permitted in this chapter for licensees in this chapter. A “”consumer loan”” means the same as defined in § 537.1301.
[C66, 71, 73, 75, 77, 79, 81, §536A.3]
86 Acts, ch 1245, §758
Referred to in §536A.27
With respect to a loan other than a consumer loan, a person shall not engage in the
business of operating an industrial loan company in this state without first having obtained a license from the superintendent. With respect to a consumer loan, a person required by § 537.2301 to have a license is not authorized to engage in the business of operating an industrial loan company without first obtaining a license from the superintendent. A person that enters into less than ten supervised loans per year in this state and that neither has an office physically located in this state nor engages in face-to-face solicitation in this state may contract for and receive the rate of interest permitted in this chapter for licensees in this chapter. A “”consumer loan”” means the same as defined in § 537.1301.
[C66, 71, 73, 75, 77, 79, 81, §536A.3]
86 Acts, ch 1245, §758
Referred to in §536A.27