2009 Iowa Code
Title 13 - Commerce
Subtitle 3 - Money and Credit
CHAPTER 537 - CONSUMER CREDIT CODE
537.2301 - AUTHORITY TO MAKE SUPERVISED LOANS.

        537.2301  AUTHORITY TO MAKE SUPERVISED LOANS.
         1.  As used in this part, "licensing authority" means the
      agency designated in chapter 524, 533, 534, 536, or 536A to issue
      licenses or otherwise authorize the conduct of business pursuant to
      the respective chapter or this chapter, and "licensee" includes
      any person subject to regulation by a licensing authority.
      "License" includes the authorization, of whatever form, to engage
      in the conduct regulated under those chapters.
         2.  A person who is not authorized to make supervised loans as
      provided herein shall not engage in the business of making supervised
      loans or undertaking direct collection of payments from or
      enforcement of rights against consumers arising from supervised
      loans, but the person may collect and enforce for three months
      without a license if the person promptly applies for a license and
      the person's application has not been denied.
         3.  The following persons are authorized to make supervised loans:

         a.  A person who is a supervised financial organization.
         b.  A person who has obtained a license pursuant to either
      chapter 536 or 536A.
         c.  A person who enters into less than ten supervised loans
      per year in this state and has neither an office physically located
      in this state nor engages in face-to-face solicitation in this state.

         4.  This section shall not affect dollar amount, purpose, or rate
      of finance charge restrictions imposed by any statute of this state
      or of the United States with respect to which a person is authorized
      to make loans at a rate of finance charge in excess of that permitted
      by chapter 535 or pursuant to which a person is licensed.  

         [C75, 77, 79, 81, § 537.2301]
         Referred to in § 536.1, 536A.3, 536A.27, 537.1201, 537.2310,
      537.5201, 537.5301