Iowa Code

Iowa Code § 537.3208 (2026)

Notice to cosigners and similar parties

✓ current as of July 2026

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1. No natural person, other than the spouse of the consumer, is obligated as a cosigner, comaker, guarantor, endorser, surety, or similar party with respect to a consumer credit transaction, unless before or contemporaneously with signing any separate agreement of obligation or any writing setting forth the terms of the debtor’s agreement, the person \n Tue Dec 09 22:02:53 2025 Iowa Code 2026, Chapter 537 (58, 3) §537.3208, CONSUMER CREDIT CODE 32\n\nreceives a separate written notice that contains a completed identification of the debt the person may have to pay and reasonably informs the person of the person’s obligation with respect to it.

2. A clear and conspicuous notice in substantially the following form complies with this section: NOTICE You agree to pay the debt identified below although you may not personally receive any property, services, or money. You may be sued for payment although the person who receives the property, services, or money is able to pay. This notice is not the contract that obligates you to pay the debt. Read the contract for the exact terms of your obligation. IDENTIFICATION OF DEBT YOU MAY HAVE TO PAY ................................................................ (name of debtor) ................................................................ (name of creditor) ................................ (date) ................................................................ (kind of debt) I have received a copy of this notice. ................................ (Date) ................................................................ (Signed)

3. The notice required by this section need not be given to a seller, lessor, or lender who is obligated to an assignee of the seller’s, lessor’s, or lender’s rights.

4. A person entitled to notice under this section shall also be given a copy of any writing setting forth the terms of the debtor’s agreement and of any separate agreement of obligation signed by the person entitled to the notice. [C75, 77, 79, 81, §537.3208] Referred to in §537.5201 \n

Notes of Decisions

Cited in 4 cases, 1983–1994 · leading case: First Nat'l Bank of Creston v. Creston Implement Co., 340 N.W.2d 777 (Iowa 1983).

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First Nat'l Bank of Creston v. Creston Implement Co., 340 N.W.2d 777 (Iowa 1983). · cites it 28× “On appeal, the bank asserts that (1) the trial court erred in concluding that Pilking-ton’s alleged guaranty of certain promissory notes is rendered unenforceable by reason of the bank’s failure to give him a written notice of his obligation in accordance with Iowa Code section…”

Union Story Trust & Sav. Bank v. Sayer, 332 N.W.2d 316 (Iowa 1983). · cites it 10× “We first consider the respective arguments of the parties concerning defendants’ affirmative defense based on Iowa Code section 537.3208 (1981). That statute, which is part of the Iowa Consumer Credit Code, provides, in part: No natural person, other than the spouse of the…”

Farmers & Merchants Sav. Bank v. Vandenberg Chevrolet-Buick, Ltd., 523 N.W.2d 211 (Iowa 1994). · cites it 2× “*214 Iowa Code § 537.3208 (1) (1987). 2 . The Master Dealer Agreement also provides that the bank’s right to seek redress from the maker of the assigned note and the dealership on the warranties are cumulative.”

In Re Easton, 118 B.R. 676 (Bankr. D. Iowa 1990). “, § 537.3208, 1989 Code of Iowa. It is clear that George and Elsie Easton are not co-signors if that term is construed to mean that they are guarantors or in any way have a secondary liability under the lease agreement.”

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