537.2307 Restrictions on interest in land as security. With respect to a supervised loan in which the rate of finance charge is in excess of fifteen percent computed according to the actuarial method, and the amount financed is twothousand dollars or less, a lender shall not contract for a security interest in real propertyused as a residence for the consumer or the consumer’s dependents. A security interesttaken in violation of this section is void. [C75, 77, 79, 81, §537.2307]2023 Acts, ch 66, §139Referred to in §535.10, 537.5201Section amended Sat Dec 23 01:40:00 2023 Iowa Code 2024, Section 537.2307 (19, 1)
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