Section 536C.1 – Title.

536C.1 Title. This chapter shall be known and may be cited as the “Lender Credit Card Act”. 91 Acts, ch 216, §15

Section 536C.10 – Injunctions.

536C.10 Injunctions. The administrator may commence an action in the district court to restrain and enjoin any person from violating this chapter, or to restrain and enjoin any person from engaging in the business of issuing credit cards without filing a registration statement as required by this chapter. 91 Acts, ch 216, §24

Section 536C.11 – Waiver unenforceable.

536C.11 Waiver unenforceable. A waiver of the provisions of this chapter or chapter 537 is not valid. 91 Acts, ch 216, §25

Section 536C.12 – Penalty.

536C.12 Penalty. If an officer, director, or agent of a corporation engaged in the business of issuing credit cards violates any of the provisions of this chapter which are not also violations of the Iowa consumer credit code, chapter 537, or if a person individually or as a partner, or officer, director, or agent of […]

Section 536C.13 – Rules.

536C.13 Rules. The administrator may adopt such rules pursuant to chapter 17A as may be necessary for the enforcement and administration of this chapter. 91 Acts, ch 216, §27

Section 536C.14 – Enforcement.

536C.14 Enforcement. 1. The superintendent of banking shall enforce the provisions of this chapter with respect to banks not exempt from the provisions of this chapter under section 536C.3. 2. The superintendent of credit unions shall enforce the provisions of this chapter with respect to credit unions not exempt from the provisions of this chapter […]

Section 536C.2 – Definitions.

536C.2 Definitions. As used in this chapter, unless the context otherwise requires: 1. “Administrator” means the superintendent of banking or the superintendent of credit unions. However, the powers of administration and enforcement of this chapter are to be exercised pursuant to section 536C.14. 2. “Agreement” means agreement as defined in section 537.1301, subsection 4. 3. […]

Section 536C.3 – Exemptions.

536C.3 Exemptions. This chapter does not apply to a bank chartered under chapter 524 or a bank chartered under federal law which has its principal place of business located in this state, a savings and loan association chartered under federal law which has its principal place of business located in this state, a credit union […]

Section 536C.4 – Notification.

536C.4 Notification. 1. A person shall file a registration statement annually with the administrator before conducting the business of issuing credit cards in this state, and annually thereafter on or before January 31 of each year. The registration statement shall be in writing on a form prescribed by the administrator, and contain the name and […]

Section 536C.5 – Fees.

536C.5 Fees. A person required to file a registration statement pursuant to this chapter shall pay to the administrator an annual fee of fifty dollars. The fee shall be paid at the time the person files the registration statement. 91 Acts, ch 216, §19

Section 536C.6 – Applicability of Iowa consumer credit code.

536C.6 Applicability of Iowa consumer credit code. 1. The terms and conditions of a credit card agreement shall conform to the provisions of chapter 537, the Iowa consumer credit code. 2. A provision of the Iowa consumer credit code, chapter 537, applicable to credit cards regulated by this chapter supersedes a conflicting provision of this […]

Section 536C.7 – Books and records.

536C.7 Books and records. A person who issues credit cards shall keep such books, accounts, and records as will enable the administrator to determine whether or not the person is complying with the provisions of this chapter and chapter 537. The person shall not be required to preserve or keep their records or files for […]

Section 536C.8 – Investigations.

536C.8 Investigations. 1. The administrator may investigate at any time the business of a credit card issuer subject to the provisions of this chapter. The administrator may examine the books, records, accounts, and files pertaining to the business of issuing credit cards subject to the provisions of this chapter. 2. The administrator may accept a […]

Section 536C.9 – Cease and desist orders.

536C.9 Cease and desist orders. 1. If the administrator has reasonable cause to believe a person who issues credit cards is violating any provision of this chapter, or rules adopted pursuant to this chapter, the administrator may enter a written order requiring the person to cease, desist, and refrain from an act constituting a violation. […]