Iowa Code
Iowa Code § 535.4 (2026)
Illegal rate prohibited — usury
✓ current as of July 2026
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No person shall, directly or indirectly, receive in money or in any other thing, or in any manner, any greater sum or value for the loan of money, or upon contract founded upon any sale or loan of real or personal property, than is in this chapter prescribed. [R60, §1790; C73, §2079; C97, §3040; C24, 27, 31, 35, 39, §9406; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, S79, C81, §535.4] Referred to in §535.2
\nNotes of Decisions
Cited in 16
cases (3 in the last 5 years), 1968–2021 · leading case: State Ex Rel. Turner v. Younker Bros., Inc., 210 N.W.2d 550 (Iowa 1973).
State Ex Rel. Turner v. Younker Bros., Inc., 210 N.W.2d 550 (Iowa 1973). “Turner in his individual capacity, initiated this proceeding as a class action to have Younkers’ two credit plans declared usurious for the reason both exacted an “interest” charge in excess of the rate permissible under sections 535.4 and 535.2, The Code, 1971.”
Doggett v. Heritage Concepts, Inc., 298 N.W.2d 310 (Iowa 1980). “Section 535.4 provides: No person shall, directly or indirectly, receive in money or in any other thing, or in any manner, any greater sum or value for the loan of money, or upon contract founded upon any sale or loan of real or personal property, than is in this chapter…”
Martin v. Peoples Mut. Sav. & Loan Ass'n, 319 N.W.2d 220 (Iowa 1982). “e provisions of subsection 3, with respect to any agreement which was executed prior to August 3, 1978, and which contained a provision for the adjustment of the rate of interest specified in that agreement, the maximum lawful rate of interest which may be imposed under that…”
Kaiser Agric. Chemicals, Inc. v. Peters, 417 N.W.2d 437 (Iowa 1987). “Iowa Code section 535.4 contains the usury provision and reads: No person shall, directly or indirectly, receive in money or in any other thing, or in any manner, any greater sum or value for the loan of money, or upon contract founded upon any sale or loan of real or *441…”
McGalliard v. Liberty Leasing Co. of Alaska, Inc., 534 P.2d 528 (Alaska 1975). “[4] Iowa Code Ann. § 535.4 (1946) provides: No person shall, directly or indirectly, receive in money or in any other thing, or in any manner, any greater sum or value for the loan of money, or upon contract founded upon any sale or loan of real or personal property, than is in…”
Chapman's Golf Ctr. v. Chapman, 524 N.W.2d 422 (Iowa 1994). “e provisions of subsection S, with respect to any agreement which was executed prior to August 3, 1978, and which contained a provision for the adjustment of the rate of interest specified in that agreement, the maximum lawful rate of interest which may be imposed under that…”
In Re Est. of Zimmerman, 160 N.W.2d 502 (Iowa 1968). “No express written or oral agreement for the payment of such interest was shown by a preponderance of the evidence, and such an agreement, had there been one, would violate Code Section 535.4 and 535.5, and would result in the forfeiture of all interest.”
State Ex Rel. Turner v. City of Altoona, 274 N.W.2d 366 (Iowa 1979). “The chapter further provides in § 535.4 as follows: “No person shall, directly or indirectly, receive in money or in any other thing, or in any manner, any greater sum or value for the loan of money, or upon contract founded upon any sale or loan of real or personal property,…”
State Ex Rel. Turner v. Iowa Elec. Light & Power Co., 240 N.W.2d 912 (Iowa 1976). “2 and § 535.4, The Code. State also argues most penalties are on mere open accounts which may not lawfully draw interest until six months after the date of the last item, citing § 535.”
Foreign Com. v. Bernard Tonn, 789 F.2d 221 (3rd Cir. 1986). “Iowa Code Ann. § 535.4 (West 1950) provides: Illegal rate prohibited — usury.”
Zimmerman v. Westgate Elevator Co., 160 N.W.2d 502 (Iowa 1968). “No express written or oral agreement for the payment of such interest was shown by a preponderance of the evidence, and such an agreement, had there been one, would violate Code Section 535.4 and 535.5, and would result in the forfeiture of all interest.”
Prof'l Solutions v. Seidman (Iowa 2021). “17, and (3) violation of Iowa’s usury statute contained in Iowa Code section 535.4. The Gossett defendants also counterclaimed for a declaratory judgment that PSFS 3 waived its right to attorney fees in federal courts by failing to timely file.”
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