523G.7 Negotiable instruments.
An invention developer shall not take a negotiable instrument from a customer as part of a contract, unless the negotiable instrument is a check constituting evidence of the customer’s obligation. A person in possession of a negotiable instrument is not a holder in due course as defined in section 554.3302, if the person takes a negotiable instrument from a customer in violation of this section.
92 Acts, ch 1114, §8
Structure Iowa Code
Chapter 523G - INVENTION DEVELOPMENT SERVICES
Section 523G.2 - Purpose of the chapter.
Section 523G.4 - Initial disclosures.
Section 523G.6 - Evidence of financial responsibility.
Section 523G.7 - Negotiable instruments.
Section 523G.8 - Records and correspondence.
Section 523G.9 - Compliance with other laws, violations and penalties.