Terms Used In Iowa Code 523C.17

  • Contract: means the same as defined in section 554D. See Iowa Code 554E.1
  • Contract: A legal written agreement that becomes binding when signed.
  • Motor vehicle: means any self-propelled vehicle subject to registration under chapter 321. See Iowa Code 523C.1
  • property: includes personal and real property. See Iowa Code 4.1
  • Sale: means any sale, offer for sale, or attempt to sell or lease any land, to the public in this state, for cash or on credit. See Iowa Code 543C.1
 A bank, savings association, insurance company, or other lending institution shall not require the purchase of a motor vehicle service contract or residential service contract as a condition of a loan or the sale of any property or motor vehicle. Violation of this section is punishable as provided in section 523C.13.
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