Text: HF00463 Text: HF00465 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 537.5201, subsection 1, unnumbered 1 2 paragraph 1, Code 2003, is amended to read as follows: 1 3 The consumer, other than a lessee in a consumer rental 1 4 purchase agreement, has a cause of action to recover actual 1 5 damages and in addition a right in an action other than a 1 6 class action to recover from the person violating this chapter 1 7 a penalty in an amount determined by the court, but not less 1 8 thanonefive hundred dollars nor more thanonefive thousand 1 9 dollars, if a person has violated the provisions of this 1 10 chapter relating to: 1 11 Sec. 2. Section 537.5201, subsection 3, Code 2003, is 1 12 amended to read as follows: 1 13 3. If a creditor has contracted for or received a charge 1 14 in excess of that allowed by this chapter, or if a consumer is 1 15 entitled to a refund and a person liable to the consumer 1 16 refuses to make a refund within a reasonable time after 1 17 demand, the consumer may recover from the creditor or the 1 18 person liable, in an action other than a class action, the 1 19 excess charge or refund and a penalty in an amount determined 1 20 by the court not less thanonefive hundred dollars or more 1 21 thanonefive thousand dollars. With respect to excess 1 22 charges arising from sales or loans made pursuant to open end 1 23 credit, no action pursuant to this subsection may be brought 1 24 more than two years after the time the excess charge was made. 1 25 With respect to excess charges arising from other consumer 1 26 credit transactions no action pursuant to this subsection may 1 27 be brought more than one year after the due date of the last 1 28 scheduled payment of the agreement pursuant to which the 1 29 charge was made. For purposes of this subsection, a 1 30 reasonable time is presumed to be thirty days. 1 31 EXPLANATION 1 32 This bill raises the amount a consumer may recover, in an 1 33 action other than a class action, for violations of certain 1 34 provisions of the Iowa consumer credit code. Current Code 1 35 language provides that the range of recovery may be from $100 2 1 to $1,000. The bill modifies that range from $500 to $5,000. 2 2 The court determines the final amount within the range, after 2 3 presentation of the evidence. 2 4 LSB 2741YH 80 2 5 jj/pj/5
Text: HF00463 Text: HF00465 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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