Iowa Code

Iowa Code § 523G.7 (2026)

Negotiable instruments

✓ current as of July 2026

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An invention developer shall not take a negotiable instrument from a customer as part of a contract, unless the negotiable instrument is a check constituting evidence of the customer’s obligation. A person in possession of a negotiable instrument is not a holder in due course as defined in section 554.3302, if the person takes a negotiable instrument from a customer in violation of this section. 92 Acts, ch 1114, §8