Iowa Code 533D.2 – Definitions
Current as of: 2023 | Check for updates
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For purposes of this chapter, unless the context otherwise requires:
1. “Check” means a check, draft, share draft, or other instrument for the payment of money.
Terms Used In Iowa Code 533D.2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
- Money: means the same as defined in section 554. See Iowa Code 554E.1
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
2. “Delayed deposit services business” means a person who for a fee does either of the following:
a. Accepts a check dated subsequent to the date it was written.
b. Accepts a check dated on the date it was written and holds the check for a period of time prior to deposit or presentment pursuant to an agreement with, or any representation made to, the maker of the check, whether express or implied.
3. “Licensee” means a person licensed to operate pursuant to this chapter.
4. “Person” means an individual, group of individuals, partnership, association, corporation, or any other business unit or legal entity.
5. “Superintendent” means the superintendent of banking.