§ 321F.1 — Definitions

Iowa § 321F.1

• Jurisdiction: Iowa
• Title VIII: TRANSPORTATION
• Ch. 321F: LEASING AND RENTING OF VEHICLES

Text

When used in this chapter, unless the context requires otherwise:
1. “Business” means the business of leasing motor vehicles for use by others for
compensation.
2. “Director” means the director of transportation or the director’s designee.
3. “Evidence of financial responsibility” means:
a. A certificate of an insurance carrier certifying that the lessor under a lease is insured
against liability for a judgment in the amount of fifty thousand dollars for personal injury
to one individual and in an aggregate amount of one hundred thousand dollars for personal
injuries to all individuals involved in a single accident, and in the amount of ten thousand
dollarsforpropertydamage, resultingfromanysuchsingleaccidentinwhichamotorvehicle
under a lease is involved; or
b. A bond executed by a surety company authorized to do business in this state providing
for the payment of judgments, against a lessor under a lease, within the limits set forth in
paragraph “a” of this subsection.
4. “Judgment” means any judgment which shall have become final.
5. “Lease” means a written agreement providing for the leasing of a motor vehicle for a
period of more than sixty days.
6. “Licensee” means a person licensed under the provisions of this chapter to engage in
business.
7. “Motor vehicle” means every vehicle which is self-propelled and subject to registration
under the laws of this state.
8. “Person” means an individual, partnership, corporation, association, or other business
entity.

Legislative History

[C71, 73, 75, 77, 79, 81, §321F.1]