§ 536.1

536.1 Title — license required. 1. This chapter may be referred to as the 'Iowa Regulated Loan Act'.2. With respect to a loan other than a consumer loan, a person shall not engage in the business of making loans of money, credit, goods, or things in action in the amount or ofthe value of the threshold amount or less and charge, contract for, or receive on the loan agreater rate of interest or consideration for the loan than the lender would be permitted bylaw to charge if the lender were not a licensee under this chapter except as authorized by thischapter and without first obtaining a license from the superintendent of banking. 3. With respect to a consumer loan, a person required by section 537.2301 to have a license shall not engage in the business of making loans of money, credit, goods or things in actionin the amount or value of the threshold amount or less and charge, contract for, or receiveon the loan a greater rate of interest or consideration for the loan than the lender would bepermitted by law to charge if the lender were not a licensee under this chapter, except asauthorized by this chapter and without first obtaining a license from the superintendent. 4.

e lender would bepermitted by law to charge if the lender were not a licensee under this chapter, except asauthorized by this chapter and without first obtaining a license from the superintendent. 4. A person who enters into less than ten supervised loans per year in this state and who neither has an office physically located in this state nor engages in face-to-face solicitationin this state may contract for and receive the rate of interest permitted in this chapter forlicensees under this chapter. 5. For the purposes of this section:a. 'Consumer loan' means the same as defined in section 537.1301.b. 'Threshold amount' means the same as defined in section 537.1301.[C24, 27, 31, §9410; C35, §9438-f1; C39, §9438.01; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.1] 85 Acts, ch 158, §2; 2014 Acts, ch 1037, §8; 2015 Acts, ch 30, §171Referred to in §536.10, 536.13, 536.19 Sat Dec 23 01:38:47 2023 Iowa Code 2024, Section 536.1 (20, 0)