Print
Iowa Code
Quick Search
Iowa Acts
Quick Search
Iowa Administrative Code
Quick Search
Generate Link
Section 533.313 Share drafts.
2023 Code of Iowa
A state credit union may provide its members with share draft accounts. “Share draft” means a negotiable draft which is payable upon demand and is used to withdraw funds from a share draft account. A share draft is an item for purposes of chapter 55...
Tagged topics: share drafts
Section 533.314 Payment of share drafts during dissolution.
2023 Code of Iowa
Other provisions of section 533.404 notwithstanding, when a state credit union is dissolved, first priority of payment shall be given to unpaid share drafts. However, a share draft shall not be paid if any of the following conditions exist: The shar...
Tagged topics: share drafts
Section 537.8101 Provision of credit card number as condition of check cashing or acceptance prohibited.
2023 Code of Iowa
A person shall not require as a condition of acceptance of a check or share draft, or as a means of identification, that the person presenting the check provide a credit card number or expiration date, or both. Recording a credit card number or expira...
Tagged topics: financial instruments
Section 554.5101 Short title.
2023 Code of Iowa
This Article shall be known and may be cited as Uniform Commercial Code — Letters of Credit.
Tagged topics: letters of credit
Section 554.5103 Scope.
2023 Code of Iowa
This Article applies to letters of credit and to certain rights and obligations arising out of transactions involving letters of credit. The statement of a rule in this Article does not by itself require, imply, or negate application of the same or...
Tagged topics: letters of credit
Section 554.5102 Definitions.
2023 Code of Iowa
In this Article unless the context otherwise requires: “Adviser” means a person who, at the request of the issuer, a confirmer, or another adviser, notifies or requests another adviser to notify the beneficiary that a letter of credit has been issu...
Tagged topics: letters of credit
Section 554.5104 Formal requirements.
2023 Code of Iowa
A letter of credit, confirmation, advice, transfer, amendment, or cancellation may be issued in any form that is a record and is authenticated by a signature or in accordance with the agreement of the parties or the standard practice referred to in s...
Tagged topics: letters of credit
Section 554.5105 Consideration.
2023 Code of Iowa
Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.
Tagged topics: letters of credit
Section 554.5107 Confirmer, nominated person, and adviser.
2023 Code of Iowa
A confirmer is directly obligated on a letter of credit and has the rights and obligations of an issuer to the extent of its confirmation. The confirmer also has rights against and obligations to the issuer as if the issuer were an applicant and the c...
Tagged topics: letters of credit
Section 554.5106 Issuance, amendment, cancellation, and duration.
2023 Code of Iowa
A letter of credit is issued and becomes enforceable according to its terms against the issuer when the issuer sends or otherwise transmits it to the person requested to advise or to the beneficiary. A letter of credit is revocable only if it so provi...
Tagged topics: letters of credit