Iowa Code 537.2310 – Conduct of business other than making loans
Current as of: 2023 | Check for updates
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1. Except as provided in subsection 2, a licensee authorized to make supervised loans pursuant to section 537.2301 may not engage in the business of selling or leasing tangible goods at a location where supervised loans are made. In this section, “location” means the entire space in which supervised loans are made and the location must be separated from any space where goods are sold or leased by walls which may be broken only by a passageway to which the public is not admitted.
Terms Used In Iowa Code 537.2310
- Goods: includes , but is not limited to:(1) "Goods" as described in section 554. See Iowa Code 537.1301
- licensee: includes any person subject to regulation by a licensing authority. See Iowa Code 537.2301
- property: includes personal and real property. See Iowa Code 4.1
2. This section does not apply to:a. Occasional sales of property used in the ordinary course of business of the licensee.b. Sales of items of collateral of which the licensee has taken possession.c. Sales of items by a licensee who is also authorized by law to operate as a pawnbroker.d. Sales of property or items by the licensee which are not for the profit of the licensee and which are sold for a price not exceeding fifty dollars.