1. A licensee shall not do any of the following:

 a. Hold from any one maker more than two checks at any one time.
 b. Hold from any one maker a check or checks in an aggregate face amount of more than five hundred dollars at any one time.
 c. Hold or agree to hold a check for more than thirty-one days.
 d. Require the maker to receive payment by a method which causes the maker to pay additional or further fees and charges to the licensee or another person.
 e. Repay, refinance, or otherwise consolidate a postdated check transaction with the proceeds of another postdated check transaction made by the same licensee.
 f. Receive any other charges or fees in addition to the fees listed in section 533D.9, subsections 1 and 2.

Terms Used In Iowa Code 533D.10

  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
  • Transaction: means a sale, trade, exchange, transfer, payment, or conversion of a digital asset or any other property or any other action or set of actions occurring between two or more persons relating to the conduct of business, commercial, or governmental affairs. See Iowa Code 554E.1
 2. For purposes of this section, “licensee” includes a person related to the licensee by common ownership or control, a person in whom the licensee has any financial interest, or any employee or agent of the licensee.
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