536.14 Rights of borrower — payments. Every licensee, in addition to complying with requirements of the Iowa consumer credit code, chapter 537, respecting consumer loans, shall: 1. Permit payment to be made in advance in any amount on any contract of loan at any time, but the licensee may apply such payment first to all interest or charges up to the dateof such payment. 2. Upon repayment of the loan in full, mark indelibly every obligation and security other than a mortgage signed by the borrower with the word 'paid' or 'canceled', and release anysecurity interest which no longer secures a loan to the licensee, restore any collateral, returnany note and any assignment given to the licensee by the borrower. 3. Display prominently in each licensed place of business an accurate schedule, to be approved by the superintendent, of the charges currently to be made upon all loans. [C24, 27, 31, §9425; C35, §9438-f14; C39, §9438.14; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.14] 2003 Acts, ch 44, §114Referred to in §536.19Security interest, see §554.1201, subsection 2, paragraph aj Sat Dec 23 01:38:58 2023 Iowa Code 2024, Section 536.14 (21, 0)
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