536A.30  Nonresident licensees--face-to-face solicitation.

Notwithstanding other provisions of this chapter to the contrary, a person which neither has an office physically located in this state nor engages in face-to-face solicitation in this state, if authorized by another state to make loans in that state at a rate of finance charge in excess of the rate provided in chapter 535, shall not be subject to the following provisions of this chapter:

1.  Section 536A.7, to the extent it requires payment of an annual license fee in excess of two hundred fifty dollars.

2.  Section 536A.8.

3.  Section 536A.10, subsections 2, 3 and 4.

4.  Section 536A.12, to the extent it requires a licensee to pay an annual license fee which, when combined with that required in section 536A.7, is in excess of ten dollars.

5.  Section 536A.15, to the extent it requires the superintendent to make an examination and audit of the books, accounts and records of the licensee on a periodic basis.

Section History: Early form

  [C75, 77, 79, 81, § 536A.30]

Section History: Recent form

  89 Acts, ch 257, §30

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