Text: SF00507                           Text: SF00509
Text: SF00500 - SF00599                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

Senate File 508

Partial Bill History

• Bill Introduced: S.J. 643
• Committee Report Issued: S.J. 646
• Passed Senate: S.J. 889
• Complete Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 537.2501, subsection 1, paragraph g,
  1  2 Code 1997, is amended to read as follows:
  1  3    g.  A surcharge of not more than five percent of the amount
  1  4 of the face value of the payment instrument or twenty dollars,
  1  5 whichever is greater, for each dishonored payment instrument
  1  6 provided that the fee is clearly and conspicuously disclosed
  1  7 in the cardholder agreement contract.  However, the amount of
  1  8 the surcharge shall not exceed twenty dollars unless the
  1  9 check, draft, or order was presented twice or the maker does
  1 10 not have an account with the drawee.  If the check, draft, or
  1 11 order was presented twice or the maker does not have an
  1 12 account with the drawee, the amount of the surcharge shall not
  1 13 exceed fifty dollars.  The surcharge shall not be assessed
  1 14 against the maker if the reason for the dishonor of the
  1 15 instrument is that the maker has stopped payment pursuant to
  1 16 section 554.4403.
  1 17    Sec. 2.  Section 537.2501, subsection 1, Code 1997, is
  1 18 amended by adding the following new paragraph h and
  1 19 relettering the existing paragraph h as paragraph i:
  1 20    NEW PARAGRAPH.  h.  Annual account maintenance fees not to
  1 21 exceed fifteen dollars, payable in advance, charged by a
  1 22 supervised financial organization for the privilege of
  1 23 maintaining a demand deposit account with a line of credit
  1 24 that may be accessed by the account holder writing a check.  
  1 25 SF 508
  1 26 mj/cc/26
     

Text: SF00507                           Text: SF00509
Text: SF00500 - SF00599                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

Iowa General Assembly

Search: Senate Bills and Amendments (77th General Assembly)

© 1997 Cornell College and League of Women Voters of Iowa

Comments about this site or page? webmaster@legis.iowa.gov. Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.

Last update: Fri Feb 20 03:40:03 CST 1998
URL: /DOCS/GA/77GA/Legislation/SF/00500/SF00508/970401.html
jhf