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Senate File 2198 - EnrolledAn Actrelating to notice provisions in connection with
designated consumer lending provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
Section 1. Section 537.3205, subsection 1, Code 2020, is
amended to read as follows:
1. Whether or not a change is authorized by prior agreement,
a creditor may make a change in the terms of an open-end credit
account applying to any balance incurred after the effective
date of the change only if the creditor delivers or mails to
the consumer a written disclosure of the change at least sixty
days before the effective date of the change in accordance with
12 C.F.R.ยง1026.9.
______________________________
CHARLES SCHNEIDERPresident of the Senate______________________________
PAT GRASSLEYSpeaker of the House I hereby certify that this bill originated in the Senate and is known as Senate File 2198, Eighty-eighth General Assembly.______________________________
W. CHARLES SMITHSONSecretary of the SenateApproved _______________, 2020______________________________
KIM REYNOLDSGovernorja/rn
designated consumer lending provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
Section 1. Section 537.3205, subsection 1, Code 2020, is
amended to read as follows:
1. Whether or not a change is authorized by prior agreement,
a creditor may make a change in the terms of an open-end credit
account applying to any balance incurred after the effective
date of the change only if the creditor delivers or mails to
the consumer a written disclosure of the change at least sixty
days before the effective date of the change in accordance with
12 C.F.R.ยง1026.9.
______________________________
CHARLES SCHNEIDERPresident of the Senate______________________________
PAT GRASSLEYSpeaker of the House I hereby certify that this bill originated in the Senate and is known as Senate File 2198, Eighty-eighth General Assembly.______________________________
W. CHARLES SMITHSONSecretary of the SenateApproved _______________, 2020______________________________
KIM REYNOLDSGovernorja/rn