Text: SF00251 Text: SF00253 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. NEW SECTION. 533D.17 DEBT MANAGEMENT SERVICE 1 2 REFERRAL. 1 3 Upon a second transaction by a delayed deposit services 1 4 customer, a licensee shall provide the delayed deposit 1 5 services customer with information regarding debt management 1 6 businesses in the customer's area, licensed pursuant to 1 7 chapter 533A, where the customer may receive credit counseling 1 8 services. 1 9 EXPLANATION 1 10 This bill adds a new section to Code chapter 533D, 1 11 regarding delayed deposit services, more commonly known as 1 12 payday loans. The bill requires the licensee to give the 1 13 customer information regarding credit counseling services in 1 14 the area upon the customer's second delayed deposit 1 15 transaction. A person who violates the chapter may be ordered 1 16 to pay a fine of not more than $5,000, and the costs of 1 17 investigations, pursuant to Code section 533D.14. Failure to 1 18 pay a fine and the costs of investigation constitute a 1 19 separate violation of that Code section. Either type of 1 20 violation may support the suspension or revocation of a 1 21 license granted under the chapter pursuant to Code section 1 22 533D.12. In addition, the superintendent may also issue a 1 23 cease and desist order, injunction, restraining order, or writ 1 24 of mandamus under Code section 533D.13. 1 25 LSB 2531SS 80 1 26 jj/cl/14
Text: SF00251 Text: SF00253 Text: SF00200 - SF00299 Text: SF 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: Wed Mar 12 02:30:00 CST 2003
URL: /DOCS/GA/80GA/Legislation/SF/00200/SF00252/030303.html
jhf