1. With respect to a credit transaction other than a consumer credit transaction, the parties may contract for the payment by the debtor of any finance or other charge as permitted by law.
2. With respect to a credit transaction which would be a consumer credit transaction if a finance charge were made, a charge for delinquency may not exceed amounts allowed for finance charges for consumer credit sales pursuant to open-end credit. [C75, 77, 79, 81, §537.2601] 2003 Acts, 1st Ex, ch 1, §126, 133 [2003 Acts, 1st Ex, ch 1, §126, 133, amendment to subsection 1 rescinded pursuant to Rants
v. Vilsack, 684 N.W.2d 193] 2004 Acts, 1st Ex, ch 1001, §22, 23; 2018 Acts, ch 1041, §127 Referred to in §537.5201\n\n ARTICLE 3 REGULATION OF AGREEMENTS AND PRACTICES Referred to in §322.33, 536.13, 536A.31, 537.1101\n\n PART 1 GENERAL PROVISIONS\n\n 537.3101 Short title. This article shall be known and may be cited as the “Iowa Consumer Credit Code — Regulation of Agreements and Practices”. [C75, 77, 79, 81, §537.3101] \n
Notes of Decisions
Muchmore Equip., Inc. v. Grover, 315 N.W.2d 92 (Iowa 1982).
· cites it 2× “Muchmore claims, however, that the transaction comes under the Consumer Credit Code, chapter 537 of the Code, and specifically under section 537.2601(2): With respect to a credit transaction which would be a consumer credit transaction if a finance charge were made, a charge for…”
Blue Grass Sav. Bank v. Cmty. Bank & Trust Co. (Iowa 2020).
“The amount assessed or collected on this Note is authorized by the Iowa usury laws under Iowa Code §§ 537.2601 and 535.2 et.seq. On the morning of the summary judgment hearing, March 20, 2019, Blue Grass filed an affidavit of its loan officer recalculating interest amounts due…”
— Iowa Code § 537.2601(2) — 1 case
Muchmore Equip., Inc. v. Grover, 315 N.W.2d 92 (Iowa 1982).
“Muchmore claims, however, that the transaction comes under the Consumer Credit Code, chapter 537 of the Code, and specifically under section 537.2601(2): With respect to a credit transaction which would be a consumer credit transaction if a finance charge were made, a charge for…”
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