Iowa § 537.2308 Regular schedule of payments — maximum loan term

Iowa Statutes

§ 537.2308 — Regular schedule of payments — maximum loan term

Iowa § 537.2308

Title XIIICOMMERCE

Ch. 537CONSUMER CREDIT CODE

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Bluebook

Iowa Code § 537.2308 (2026).

Text

Supervised loans, not made pursuant to open-end credit and in which the amount financed
is one thousand dollars or less, shall be scheduled to be payable in substantially equal
installments at substantially equal periodic intervals except to the extent that the schedule
of payments is adjusted to the seasonal or irregular income of the debtor, and over a period
of not more than thirty-seven months if the amount financed is more than three hundred
dollars, or over a period of not more than twenty-five months if the amount financed is three
hundred dollars or less. However, a lender may make a loan not pursuant to open-end credit
that is repayable in a single payment if the amount financed does not exceed one thousand
dollars and if the finance charge does not exceed the rate permitted by se

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Supervised loans, not made pursuant to open-end credit and in which the amount financed
is one thousand dollars or less, shall be scheduled to be payable in substantially equal
installments at substantially equal periodic intervals except to the extent that the schedule
of payments is adjusted to the seasonal or irregular income of the debtor, and over a period
of not more than thirty-seven months if the amount financed is more than three hundred
dollars, or over a period of not more than twenty-five months if the amount financed is three
hundred dollars or less. However, a lender may make a loan not pursuant to open-end credit
that is repayable in a single payment if the amount financed does not exceed one thousand
dollars and if the finance charge does not exceed the rate permitted by section 537.2401,
subsection 1, to be charged by a supervised financial organization.