537.3612 Additional charges.
1. In a consumer rental purchase agreement, the lessor may contract for and receive an initial nonrefundable administrative fee not to exceed ten dollars. If a security deposit is required by the lessor, the amount and conditions under which it is returned must be disclosed with the disclosures required by sections 537.3605 and 537.3606.
2. In a consumer rental purchase agreement, the lessor may contract for and receive a delivery charge not to exceed ten dollars or, in the case of a consumer rental purchase agreement covering more than five items, a delivery charge not to exceed twenty-five dollars. A delivery charge may be assessed only if the lessor actually delivers the items to the lessee’s dwelling and the delivery charge is disclosed with the disclosures required by sections 537.3605 and 537.3606. The delivery charge may be assessed in lieu of and not in addition to the initial administrative charge in subsection 1 of this section.
3. In a consumer rental purchase agreement, a lessor may contract for and receive a charge for picking up payments from the lessee if the lessor is required or requested to visit the lessee’s dwelling to pick up a payment. In a consumer rental purchase agreement with payment or renewal dates which are more frequent than monthly, this charge shall not be assessed more than three times in any three-month period. In consumer rental purchase agreements with payments or renewal options which are at least monthly, this charge shall not be assessed more than three times in any six-month period. A charge assessed pursuant to this subsection shall not exceed seven dollars. This charge is in lieu of any delinquency charge assessed for the applicable payment period.
4. a. In a consumer rental purchase agreement, the parties may contract for late charges or delinquency fees as follows:
(1) For consumer rental purchase agreements with monthly renewal dates, a late charge not exceeding five dollars may be assessed on any payment not made within five business days after either payment is due or the return of the property is required.
(2) For consumer rental purchase agreements with weekly or biweekly renewal dates, a late charge not exceeding three dollars may be assessed on any payments not made within three business days after either payment is due or the return of the property is required.
b. A late charge on a consumer rental purchase agreement may be collected only once on any accrued payment, no matter how long it remains unpaid. A late charge may be collected at the time it accrues or at any time thereafter. A late charge shall not be assessed against a payment that is timely made, even though an earlier late charge has not been paid in full.
87 Acts, ch 80, §12; 2012 Acts, ch 1023, §157
Referred to in §537.3610, 537.3611, 537.3616
Structure Iowa Code
Chapter 537 - CONSUMER CREDIT CODE
Section 537.1101 - Short title.
Section 537.1102 - Purposes — rules of construction.
Section 537.1103 - Law applicable.
Section 537.1104 - Construction.
Section 537.1107 - Waiver — agreement — settlement.
Section 537.1108 - Effect on organizations.
Section 537.1110 - Obligation of good faith.
Section 537.1201 - Territorial application.
Section 537.1202 - Exclusions.
Section 537.1203 - Jurisdiction — service of process.
Section 537.1301 - General definitions.
Section 537.1302 - Definition — Truth in Lending Act.
Section 537.1303 - Other defined terms.
Section 537.2101 - Short title.
Section 537.2201 - Finance charge for consumer credit sales not pursuant to open-end credit.
Section 537.2202 - Finance charge for consumer credit sales pursuant to open-end credit.
Section 537.2301 - Authority to make supervised loans.
Section 537.2303 - Revocation or suspension of license.
Section 537.2304 - Records — annual reports.
Section 537.2305 - Examinations and investigations.
Section 537.2307 - Restrictions on interest in land as security.
Section 537.2308 - Regular schedule of payments — maximum loan term.
Section 537.2309 - No other business for purpose of evasion.
Section 537.2310 - Conduct of business other than making loans.
Section 537.2401 - Finance charge for consumer loans not pursuant to open-end credit.
Section 537.2402 - Finance charge for consumer loans pursuant to open-end credit.
Section 537.2403 - Finance charge for consumer loans secured by a motor vehicle.
Section 537.2501 - Additional charges.
Section 537.2502 - Delinquency charges.
Section 537.2503 - Deferral charges.
Section 537.2504 - Finance charge on refinancing.
Section 537.2505 - Finance charge on consolidation.
Section 537.2506 - Advances to perform covenants of consumer.
Section 537.2507 - Attorney fees.
Section 537.2508 - Conversion to open-end credit.
Section 537.2509 - Right to prepay.
Section 537.2510 - Rebate upon prepayment.
Section 537.2601 - Charges for other credit transactions.
Section 537.3101 - Short title.
Section 537.3201 - Compliance with Truth in Lending Act.
Section 537.3202 - Consumer leases.
Section 537.3203 - Notice to consumer.
Section 537.3204 - Notice of assignment.
Section 537.3205 - Change in terms of open-end credit accounts.
Section 537.3206 - Receipt — statements of account — evidence of payment — credits.
Section 537.3207 - Form of insurance premium loan agreement.
Section 537.3208 - Notice to cosigners and similar parties.
Section 537.3209 - Advertising.
Section 537.3210 - Prohibited statements relating to rates.
Section 537.3211 - Notice of consumer paper.
Section 537.3212 - Notice of methods of financing and rates.
Section 537.3301 - Security in consumer credit transactions.
Section 537.3302 - Cross-collateral.
Section 537.3303 - Debt secured by cross-collateral.
Section 537.3304 - Use of multiple agreements.
Section 537.3305 - No assignment of earnings.
Section 537.3306 - Authorization to confess judgment prohibited.
Section 537.3307 - Certain negotiable instruments prohibited.
Section 537.3308 - Balloon payments.
Section 537.3309 - Referral sales and leases.
Section 537.3310 - Limitations on executory transactions.
Section 537.3311 - Discrimination prohibited.
Section 537.3401 - Restriction on liability in consumer lease.
Section 537.3402 - Limitation on default charges.
Section 537.3403 - Card issuer subject to claims and defenses.
Section 537.3404 - Assignee subject to claims and defenses.
Section 537.3405 - Lender subject to defenses arising from sales and leases.
Section 537.3501 - Door-to-door sales.
Section 537.3601 - Short title.
Section 537.3602 - Purposes — rules of construction.
Section 537.3603 - Exclusions.
Section 537.3604 - General definitions.
Section 537.3605 - Disclosures.
Section 537.3606 - Form requirements.
Section 537.3608 - Acquiring ownership.
Section 537.3609 - Renegotiation.
Section 537.3610 - Balloon payments prohibited.
Section 537.3611 - Prohibited charges.
Section 537.3612 - Additional charges.
Section 537.3613 - Reinstatement fees.
Section 537.3614 - Taxes and official fees.
Section 537.3615 - Advertising.
Section 537.3616 - Lessee’s reinstatement rights.
Section 537.3617 - Unconscionability.
Section 537.3619 - Cure of default.
Section 537.3620 - Willful and intentional violations.
Section 537.3622 - Effect of correction.
Section 537.3623 - Statute of limitations.
Section 537.3624 - Enforcement.
Section 537.4101 - Scope — excess charges.
Section 537.5101 - Short title.
Section 537.5103 - Creditor’s obligations on repossession — restriction on deficiency judgments.
Section 537.5104 - No garnishment before judgment.
Section 537.5105 - Limitation on garnishment.
Section 537.5106 - Garnishment.
Section 537.5107 - Extortionate or unlawful extensions of credit.
Section 537.5110 - Cure of default.
Section 537.5111 - Notice of right to cure.
Section 537.5114 - Complaint — proof.
Section 537.5201 - Effect of violations on rights of parties.
Section 537.5202 - Damages or penalties as setoff to obligation.
Section 537.5203 - Civil liability for violation of disclosure provisions.
Section 537.5301 - Willful violations.
Section 537.5302 - Disclosure violations.
Section 537.6101 - Short title.
Section 537.6102 - Applicability.
Section 537.6103 - Administrator.
Section 537.6104 - Powers of administrator — reliance on rules — duty to report.
Section 537.6106 - Investigatory powers.
Section 537.6108 - Administrative enforcement orders.
Section 537.6109 - Assurance of discontinuance.
Section 537.6110 - Injunctions and other proceedings in equity.
Section 537.6112 - Temporary relief.
Section 537.6113 - Civil actions by administrator.
Section 537.6115 - Consumer’s remedies not affected.
Section 537.6117 - Administrative rules.
Section 537.6201 - Applicability.
Section 537.6202 - Notification.
Section 537.7101 - Short title.
Section 537.7102 - Definitions.