Iowa Code 537.3603 – Exclusions

This part does not apply to, and an agreement which complies with this part is not governed by, the provisions regarding:

1. A consumer credit sale as defined in section 537.1301, subsection 13.

Agreement: means the oral or written bargain of the parties in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance. See Iowa Code 537.1301
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
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
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

2. A consumer lease as defined in section 537.1301, subsection 14.

3. A consumer loan as defined in section 537.1301, subsection 15.

4. A lease or agreement which constitutes a “credit sale” as defined in 12 C.F.R. §226.2(a16), and the Truth in Lending Act, 15 U.S.C. § 1602(g), or an agreement which constitutes a “sale of goods” under section 537.1301, subsection 39.

5. A lease which constitutes a consumer lease as defined in 12 C.F.R. §213.2(a6).

6. A lease or agreement which constitutes a security interest as defined in section 554.1201, subsection 2.