Iowa Code 684.10 – Governing law
Current as of: 2023 | Check for updates
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1. In this section, a debtor‘s location is determined as follows:
a. A debtor who is an individual is located at the individual’s principal residence.
b. A debtor that is an organization and has only one place of business is located at its place of business.
c. A debtor that is an organization and has more than one place of business is located at its chief executive office.
Terms Used In Iowa Code 684.10
- claim for relief: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. See Iowa Code 684.1
- Debtor: means a person that is liable on a claim. See Iowa Code 684.1
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Organization: means a person other than an individual. See Iowa Code 684.1
- Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, license, and creation of a lien or other encumbrance. See Iowa Code 684.1
2. A claim for relief in the nature of a claim for relief under this chapter is governed by the local law of the jurisdiction in which the debtor is located when the transfer is made or the obligation is incurred.