Iowa Code
Chapter 536 - REGULATED LOANS
Section 536.4 - Grant or refusal of license.

536.4 Grant or refusal of license.
1. Upon the filing of such application, the approval of such bond and the payment of such fees, the superintendent shall make a thorough and complete investigation of the facts as the superintendent may deem necessary or proper.
2. If the superintendent shall determine from such application and from such investigation that the applicant can have a reasonable expectancy of a successful lending business at the location of the office for which application is made, and that there is a real need and necessity in that community for additional lending facilities to adequately serve the local people, and that said applicant is one who will command the respect of and confidence from the people in that community; that the financial responsibility, experience, character, and general fitness of the applicant, and of the members thereof if the applicant be a partnership or association, and of the officers and directors thereof if the applicant be a corporation, are such as to warrant the belief that the business will be operated lawfully, honestly, fairly, and efficiently within the purposes of this chapter, and if the superintendent shall find that the applicant has available or actually in use the assets described in section 536.2, the superintendent shall thereupon issue and deliver a license to the applicant to make loans in accordance with the provisions of this chapter at the place of business specified in the said application; if the superintendent shall not so find the superintendent shall not issue such license and the superintendent shall notify the applicant of the denial and return to the applicant the bond and the sum paid by the applicant as a license fee, retaining the investigation fee to cover the costs of investigating the application. The superintendent shall approve or deny every application for a license under this chapter within sixty days from the filing of the application and the approved bond and the payment of the said fees.
3. If the application is denied, the superintendent shall within twenty days thereafter file with the banking division a written transcript of the evidence and decision and findings with respect thereto containing the reasons supporting the denial, and forthwith serve upon the applicant a copy thereof.
[C24, 27, 31, §9415; C35, §9438-f4; C39, §9438.04; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.4]
2005 Acts, ch 3, §90; 2008 Acts, ch 1032, §106; 2020 Acts, ch 1063, §308

Structure Iowa Code

Iowa Code

Title XIII - COMMERCE

Chapter 536 - REGULATED LOANS

Section 536.1 - Title — license required.

Section 536.2 - Application — fees.

Section 536.3 - Bond.

Section 536.4 - Grant or refusal of license.

Section 536.5 - License — form — posting.

Section 536.6 - Additional bond — available assets.

Section 536.7 - Separate license — change of name or place of business.

Section 536.7A - Change in control — approval.

Section 536.8 - Annual fee — payment.

Section 536.9 - Disciplinary action.

Section 536.10 - Examination of business — fee.

Section 536.11 - Records — annual report by licensee.

Section 536.12 - Restrictions on practices.

Section 536.13 - Loan classifications, interest rates, and charges — report, penalty, and consumer credit code applicability.

Section 536.14 - Rights of borrower — payments.

Section 536.15 - Limitation on principal amount.

Section 536.16 - Nonresident licensees — face-to-face solicitation.

Section 536.19 - Violations.

Section 536.20 - Nonapplicability of statute.

Section 536.21 - Rules.

Section 536.22 - Assistants.

Section 536.23 - Judicial review.

Section 536.24 - List of licensees by banking superintendent.

Section 536.25 - Statement of indebtedness of borrower.

Section 536.26 - Insured loans.

Section 536.27 - Insurance related to property of borrower.

Section 536.28 - Definitions.

Section 536.29 - Enforcement of Iowa consumer credit code.

Section 536.30 - Powers and duties of the superintendent — nationwide system.