538A.1 Definitions. In this chapter, unless the context otherwise requires: 1. “Buyer” means an individual who is solicited to purchase or who purchases the services of a credit services organization. 2. “Consumer reporting agency” has the meaning assigned by section 603(f), Fair Credit Reporting Act, 15 U.S.C. §1681a(f) as amended through January 1, 1989. 3. […]
538A.10 Injunction. The attorney general or a buyer may bring an action in a district court to enjoin a violation of this chapter. 89 Acts, ch 183, §10 CS89, §533C.10 C93, §538A.10
538A.11 Statute of limitations. 1. An action shall not be brought under section 538A.9 after ten years after the date of the execution of the contract for services to which the action relates. 2. An action shall not be brought under section 538A.12 after four years after the date of the execution of the contract […]
538A.12 Criminal penalty. A person who violates a provision of this chapter commits a serious misdemeanor. 89 Acts, ch 183, §12 CS89, §533C.12 C93, §538A.12 Referred to in §538A.11
538A.13 Burden of proving exemption. In an action under this chapter, the burden of proving an exemption under section 538A.2, subsection 2, is upon the person claiming the exemption. 89 Acts, ch 183, §13 CS89, §533C.13 C93, §538A.13
538A.14 Remedies cumulative. The remedies provided by this chapter are in addition to other remedies provided by law. 89 Acts, ch 183, §14 CS89, §533C.14 C93, §538A.14
538A.2 Credit services organization defined — exemptions. 1. A credit services organization is a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides, or represents that the person can or will provide, any of the following services: a. Improving a […]
538A.3 Prohibited conduct. A credit services organization, a salesperson, agent, or representative of a credit services organization, or an independent contractor who sells or attempts to sell the services of a credit services organization shall not: 1. Charge a buyer or receive from a buyer money or other valuable consideration before completing performance of all […]
538A.4 Bond — surety account. 1. This section applies to a credit services organization required by section 538A.3, subsection 1, to obtain a surety bond or establish a surety account. 2. If a bond is obtained, a copy of it shall be filed with the secretary of state. If a surety account is established, notification […]
538A.5 Registration. 1. A credit services organization shall file a registration statement with the secretary of state before conducting business in this state. The registration statement must contain both of the following: a. The name and address of the credit services organization. b. The name and address of any person who directly or indirectly owns […]
538A.6 Disclosure statement. 1. Before executing a contract or agreement with a buyer, or receiving money or other valuable consideration, a credit services organization shall provide the buyer with a statement in writing, containing all of the following: a. A complete and detailed description of the services to be performed by the credit services organization […]
538A.7 Form in terms of contract. 1. A contract between the buyer and a credit services organization for the purchase of the services of the credit services organization must be in writing, dated, signed by the buyer, and must include all of the following: a. A conspicuous statement in boldface type, in immediate proximity to […]
538A.8 Waiver. 1. A credit services organization shall not attempt to cause a buyer to waive a right under this chapter. 2. A waiver by a buyer of any part of this chapter is void. 89 Acts, ch 183, §8 CS89, §533C.8 C93, §538A.8
538A.9 Action for damages. 1. A buyer injured by a violation of this chapter may bring an action for recovery of damages. The damages awarded shall not be less than the amount paid by the buyer to the credit services organization, plus reasonable attorney’s fees and court costs. 2. The buyer may also be awarded […]
