Iowa Code 536A.2 – Definitions
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The following words and terms when used in this chapter shall have the following meanings unless the context clearly requires a different meaning:
1. “Administrator” means the person designated in section 537.6103.
Terms Used In Iowa Code 536A.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.
- Corporation: shall mean any corporation for pecuniary profit organized under the laws of the state of Iowa. See Iowa Code 536A.2
- 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
- Industrial loan company: shall mean a corporation operating under the provisions of this chapter and engaged in the business of loaning money to be repaid in one payment or in weekly, monthly or other periodic installments and the charging, receiving or requiring of interest, discount, fees, compensation or charges of whatever nature or kind for the use of such money and for the services to be rendered to the borrower in connection with the loan. See Iowa Code 536A.2
- Money: means the same as defined in section 554. See Iowa Code 554E.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
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- Superintendent: means the superintendent of banking within the banking division of the department of commerce. See Iowa Code 536A.2
2. “Affiliate” means the same as defined in 12 U.S.C. § 1841(k).
3. “Commercial activities” means activities in which an industrial loan company is not specifically authorized to engage under the provisions of this chapter.
4. “Control” means the same as provided in 12 U.S.C. § 1841(a)(2).
5. “Corporation” shall mean any corporation for pecuniary profit organized under the laws of the state of Iowa.
6. “Industrial loan company” shall mean a corporation operating under the provisions of this chapter and engaged in the business of loaning money to be repaid in one payment or in weekly, monthly or other periodic installments and the charging, receiving or requiring of interest, discount, fees, compensation or charges of whatever nature or kind for the use of such money and for the services to be rendered to the borrower in connection with the loan. The term “industrial loan company” shall not include those businesses specifically exempted in section 536A.5.
7. “License” shall mean a permit or authorization issued or required under the provisions of this chapter to make loans in accordance with this chapter at a single location or place of business.
8. “Licensee” means a person licensed under this chapter.
9. “Superintendent” means the superintendent of banking within the banking division of the department of commerce.