1. A licensee shall not do any of the following:
a. Hold from any one maker more than two checks at any one time.
b. Hold from any one maker a check or checks in an aggregate face amount of more than five hundred dollars at any one time.
c. Hold or agree to hold a check for more than thirty-one days.
d. Require the maker to receive payment by a method which causes the maker to pay additional or further fees and charges to the licensee or another person.
e. Repay, refinance, or otherwise consolidate a postdated check transaction with the proceeds of another postdated check transaction made by the same licensee.
f. Receive any other charges or fees in addition to the fees listed in section 533D.9, subsections 1 and 2.
2. For purposes of this section, "licensee" includes a person related to the licensee by common ownership or control, a person in whom the licensee has any financial interest, or any employee or agent of the licensee.
95 Acts, ch 139, §10
Previous Section 533D.9
Next Section 533D.11
© 2001 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Mon Jan 22 17:13:42 CST 2001