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 obtaineda license from the superintendent. With respect to a consumer loan, a person required bysection 537.2301 to have a license is not authorized to engage in the business of operatingan industrial loan company without first obtaining a license from the superintendent. Aperson that enters into less than ten supervised loans per year in this state and that neitherhas an office physically located in this state nor engages in face-to-face solicitation in thisstate may contract for and receive the rate of interest permitted in this chapter for licenseesin this chapter. A 'consumer loan' means the same as defined in section 537.1301. [C66, 71, 73, 75, 77, 79, 81, §536A.3]86 Acts, ch 1245, §758Referred to in §536A.27 Sat Dec 23 01:39:10 2023 Iowa Code 2024, Section 536A.3 (15, 0)
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