535B.2  Exemptions.

This chapter, except for sections 535B.3, 535B.11, 535B.12, and 535B.13, does not apply to any of the following:

1.  A national bank.

2.  A federally chartered savings and loan association.

3.  A federally chartered savings bank.

4.  A federally chartered credit union.

5.  A loan company licensed under chapter 536 or 536A.

6.  A bank organized under chapter 524.

7.  A savings and loan association or savings bank organized under chapter 534.

8.  A credit union organized under chapter 533.

9.  An insurance company organized under the laws of this state and subject to regulation by the commissioner of insurance.

10.  A wholly owned subsidiary of an organization listed in subsections 1 through 9 if the listed organization has its principal place of business in Iowa.

11.  A bank, savings and loan association, credit union, or insurance company organized or chartered under the laws of any other state, provided the financial institution or insurance company has a place of business in Iowa or in a county of another state if that county is contiguous to an Iowa border.

12.  Mortgage lenders or mortgage bankers maintaining an office in this state whose principal business in this state is conducted with or through mortgage lenders or mortgage bankers otherwise exempt under this section and which maintain a place of business in this state.

13.  A nonprofit organization qualifying for tax-exempt status under the Internal Revenue Code as defined in section 422.3 which offers housing services to low and moderate income families.

Section History: Recent form

  88 Acts, ch 1146, §2; 89 Acts, ch 83, §76; 89 Acts, ch 133, §4, 5; 96 Acts, ch 1056, § 21

Internal References

  Referred to in § 535B.3


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