Text: HSB00214                          Text: HSB00216
Text: HSB00200 - HSB00299               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

House Study Bill 215

Bill Text

PAG LIN
  1  1    Section 1.  Section 537.2601, subsection 1, Code 2003, is
  1  2 amended to read as follows:
  1  3    1.  Except as provided in subsection 2, with respect to a
  1  4 credit transaction other than a consumer credit transaction,
  1  5 the parties may contract for the payment by the debtor of any
  1  6 finance or other charge as permitted by law.  Except with
  1  7 respect to debt obligations issued by a government,
  1  8 governmental agency or instrumentality, in calculating any
  1  9 finance charge contracted for, any month may be counted as
  1 10 one-twelfth of a year, but a day is to be counted as one
  1 11 three-hundred sixty-fifth of a year.  
  1 12                           EXPLANATION
  1 13    This bill eliminates a provision stating that in a credit
  1 14 transaction other than a consumer credit transaction, such as
  1 15 a commercial or agricultural loan, any finance charge
  1 16 contracted for may be calculated by counting a month as one-
  1 17 twelfth of a year; and requiring a day to be counted as one
  1 18 three-hundred sixty-fifth of a year in any such calculation.  
  1 19 LSB 2259HC 80
  1 20 av/cf/24
     

Text: HSB00214                          Text: HSB00216
Text: HSB00200 - HSB00299               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

© 2003 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: Thu Feb 27 02:30:24 CST 2003
URL: /DOCS/GA/80GA/Legislation/HSB/00200/HSB00215/030226.html
jhf