§ 537.6109 — Assurance of discontinuance

Iowa § 537.6109

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 537: CONSUMER CREDIT CODE

Text

If it is claimed that a person has engaged in conduct which could be subject to an order by
the administrator or by a court, the administrator may accept an assurance in writing that the
person will not engage in the same or in similar conduct in the future. The assurance may
include stipulations that the creditor will voluntarily pay the costs of investigation, or that an
amount will be held in escrow as restitution to debtors aggrieved by future conduct of the
creditor or as a reserve to cover costs of future investigation, or may include admissions of
past specific acts by the creditor or admissions that those acts violated this chapter or other
statutes. A violation of an assurance of discontinuance is a violation of this chapter.

Legislative History

[C75, 77, 79, 81, §537.6109]