§ 536.6 — Additional bond — available assets

Iowa § 536.6

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 536: REGULATED LOANS

Text

1. If the superintendent finds at any time that the bond is insecure or exhausted or
otherwise of doubtful validity or collectibility, an additional bond to be approved by the
superintendent, with one or more sureties and of the character specified in section 536.3, in
a sum not to exceed that amount determined pursuant to section 536.3, shall be filed by the
licensee within ten days after written demand upon the licensee by the superintendent.
2. Every licensee shall have available at all times for each licensed place of business at
least five thousand dollars in assets, either in liquid form or actually in use in the conduct of
such business.

Legislative History

[C24, 27, 31, §9437; C35, §9438-f6; C39, §9438.06; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.6]