Iowa Code 655.6 – Limitation of liability
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Terms Used In Iowa Code 655.6
- 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
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
655.6 Limitation of liability.
A mortgagee is not liable under § 655.3 if all of the following apply:
1. The mortgagee established reasonable procedures to achieve compliance with its obligations under § 655.3.
2. The mortgagee complied with that procedure in good faith.
3. The mortgagee was unable to comply with its obligations because of circumstances beyond its control.
2018 Acts, ch 1036, §5; 2018 Acts, ch 1172, §35
A mortgagee is not liable under § 655.3 if all of the following apply:
1. The mortgagee established reasonable procedures to achieve compliance with its obligations under § 655.3.
2. The mortgagee complied with that procedure in good faith.
3. The mortgagee was unable to comply with its obligations because of circumstances beyond its control.
2018 Acts, ch 1036, §5; 2018 Acts, ch 1172, §35