Iowa Code 537.6109 – Assurance of discontinuance
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Terms Used In Iowa Code 537.6109
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
537.6109 Assurance of discontinuance.
If it is claimed that a person has engaged in conduct which could be subject to an order by
the administrator or by a court, the administrator may accept an assurance in writing that the person will not engage in the same or in similar conduct in the future. The assurance may include stipulations that the creditor will voluntarily pay the costs of investigation, or that an amount will be held in escrow as restitution to debtors aggrieved by future conduct of the creditor or as a reserve to cover costs of future investigation, or may include admissions of past specific acts by the creditor or admissions that those acts violated this chapter or other statutes. A violation of an assurance of discontinuance is a violation of this chapter.
[C75, 77, 79, 81, §537.6109]
Referred to in §537.2303, 537.5201
If it is claimed that a person has engaged in conduct which could be subject to an order by
the administrator or by a court, the administrator may accept an assurance in writing that the person will not engage in the same or in similar conduct in the future. The assurance may include stipulations that the creditor will voluntarily pay the costs of investigation, or that an amount will be held in escrow as restitution to debtors aggrieved by future conduct of the creditor or as a reserve to cover costs of future investigation, or may include admissions of past specific acts by the creditor or admissions that those acts violated this chapter or other statutes. A violation of an assurance of discontinuance is a violation of this chapter.
[C75, 77, 79, 81, §537.6109]
Referred to in §537.2303, 537.5201