Iowa Code 537.3102 – Scope
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 537.3102
- Consumer: means the buyer, lessee, or debtor to whom credit is granted in a consumer credit transaction. See Iowa Code 537.1301
- consumer loan: is a loan in which all of the following are applicable:(1) The person is regularly engaged in the business of making loans. See Iowa Code 537.1301
- Credit: means the right granted by a person extending credit to a person to defer payment of debt, to incur debt and defer its payment, or to purchase property or services and defer payment therefor. See Iowa Code 537.1301
- Loan: means any of the following, except as provided in paragraph "b":
(1) The creation of debt by the lender's payment of or agreement to pay money to the debtor or to a third person for the account of the debtor. See Iowa Code 537.1301- 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
Part 2 applies to disclosure with respect to consumer credit transactions, other than consumer rental purchase agreements, and the provision in section 537.3201 applies to a sale of an interest in land or a loan secured by an interest in land, without regard to the rate of finance charge, if the sale or loan is otherwise a consumer credit sale or consumer loan. Parts 3 and 4 apply, respectively, to disclosure, limitations on agreements and practices, and limitations on consumer’s liability with respect to certain consumer credit transactions. Part 5 applies to home solicitation sales. Part 6 applies to consumer rental purchase agreements.