Iowa § 533D.9 Fee restriction — required disclosure

Iowa Statutes

§ 533D.9 — Fee restriction — required disclosure

Iowa § 533D.9

Title XIIICOMMERCE

Ch. 533DDELAYED DEPOSIT SERVICES

This text of Iowa § 533D.9 (Fee restriction — required disclosure) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 533D.9 (2026).

Text

1.A licensee shall not charge a fee in excess of fifteen dollars on the first one hundred dollars on the face amount of a check or more than ten dollars on subsequent one hundred dollar increments on the face amount of the check for services provided by the licensee, or pro rata for any portion of one hundred dollars face value.

2.A licensee shall give to the maker of the check, at the time any delayed deposit service transaction is made, or if there are two or more makers, to one of them, notice written in clear, understandable language disclosing all of the following:

a.The fee to be charged for the transaction.

b.The annual percentage rate as computed pursuant to the federal Truth in Lending Act.

c.The date on which the check will be deposited or presented for negotiation.

d.Any p

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1. A licensee shall not charge a fee in excess of fifteen dollars on the first one hundred
dollars on the face amount of a check or more than ten dollars on subsequent one hundred
dollar increments on the face amount of the check for services provided by the licensee, or
pro rata for any portion of one hundred dollars face value.
2. A licensee shall give to the maker of the check, at the time any delayed deposit service
transaction is made, or if there are two or more makers, to one of them, notice written in
clear, understandable language disclosing all of the following:
a. The fee to be charged for the transaction.
b. The annual percentage rate as computed pursuant to the federal Truth in Lending Act.
c. The date on which the check will be deposited or presented for negotiation.
d. Any penalty, not to exceed fifteen dollars, which the licensee will charge if the check
is not negotiable on the date agreed upon. A penalty to be charged pursuant to this section
shall only be collected by the licensee once on a check no matter how long the check remains
unpaid. A penalty to be charged pursuant to this section is a licensee’s exclusive remedy and
if a licensee charges a penalty pursuant to this section no other penalties under this chapter
or any other provision apply.
3. In addition to the notice required by subsection 2, every licensee shall conspicuously
display a schedule of all fees, charges, and penalties for all services provided by the licensee
authorized by this section. The notice shall be posted at the office and every branch office of
the licensee.