Iowa Code

Iowa Code § 536.14 (2026)

Rights of borrower — payments

✓ current as of July 2026

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Every licensee, in addition to complying with requirements of the Iowa consumer credit code, chapter 537, respecting consumer loans, shall:

1. Permit payment to be made in advance in any amount on any contract of loan at any time, but the licensee may apply such payment first to all interest or charges up to the date of such payment.

2. Upon repayment of the loan in full, mark indelibly every obligation and security other than a mortgage signed by the borrower with the word “paid” or “canceled”, and release any security interest which no longer secures a loan to the licensee, restore any collateral, return any note and any assignment given to the licensee by the borrower.\n\nTue Dec 09 22:02:51 2025 Iowa Code 2026, Chapter 536 (33, 0) §536.14, REGULATED LOANS 8\n\n 3. Display prominently in each licensed place of business an accurate schedule, to be approved by the superintendent, of the charges currently to be made upon all loans. [C24, 27, 31, §9425; C35, §9438-f14; C39, §9438.14; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.14] 2003 Acts, ch 44, §114 Referred to in §536.19 Security interest, see §554.1201, subsection 2, paragraph aj \n

Notes of Decisions

Cited in 2 cases, 1970–1979 · leading case: Beneficial Fin. Co. of Waterloo v. Lamos, 179 N.W.2d 573 (Iowa 1970).

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Beneficial Fin. Co. of Waterloo v. Lamos, 179 N.W.2d 573 (Iowa 1970). · cites it 10× “They maintain this was a violation of Code section 536.14 which requires every licensee, under this chapter, deliver to the borrower at the time the loan is made a statement showing in clear distinct terms the lawful maximum rate or rates of interest or charges in effect, the…”

Nw. Bank & Trust Co. v. Gutshall, 274 N.W.2d 713 (Iowa 1979). “2d 573 (Iowa 1970), we held there was no violation of § 536.14 which required credit companies to deliver to the borrower at the time the loan was made a statement showing in clear distinct terms the lawful maximum rate or rates of interest in effect, the amount and date of the…”

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