reglab/housing_qa huggingface dataset:
IA Code § 536A.5 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.5 - Exemptions.

536A.5 Exemptions.   This chapter does not apply to any of the following:   1. Businesses organized or operating as permitted under the authority of a law of this state or the United States relating to banks, trust companies, building and loan associations, savings and loan associations, insurance companies, regulated loan companies organized under chapter 536, or credit unions.   2. Persons that make loans only on notes secured by first mortgages on real estate.   3. Licensed real estate brokers or salespersons.   4. A person engaged exclusively in the business of purchasing commodity financing or commercial paper.   5. A pawnbroker.   6. Loans made to a domestic or foreign corporation.  [C66, 71, 73, 75, 77, 79, 81, §536A.5]  85 Acts, ch 158, §10; 2006 Acts, ch 1015, §14  Referred to in §536A.2
IA Code § 536A.6 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.6 - Administration by superintendent.

536A.6 Administration by superintendent.   The superintendent shall supervise the operation of industrial loan companies in this state in accordance with this chapter.  [C66, 71, 73, 75, 77, 79, 81, §536A.6]  86 Acts, ch 1245, §759
IA Code § 536A.7 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.7 - Application for license.

536A.7 Application for license.   1. The application for a license to engage in the business of operating an industrial loan company shall be in the form as may be prescribed by the superintendent. The application shall give all of the following information:   a. The name of the corporation.   b. The location where the business is to be conducted, including the street address of the place of business.   c. The names and addresses of the officers and directors of the corporation.   d. Other relevant information as the superintendent shall require.   2. At the time of making the application, the applicant shall pay to the superintendent the sum of one hundred dollars to cover the cost of the investigation of the applicant. The applicant shall also pay to the superintendent the sum of two hundred fifty dollars as an annual license fee for the period ending December 31 following the application.  [C66, 71, 73, 75, 77, 79, 81, §536A.7]  89 Acts, ch 257, §29; 2006 Acts, ch 1042, §43  Referred to in §536A.9, 536A.11
IA Code § 536A.7A (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.7A - Bonds.

536A.7A Bonds.   1. An applicant for a license shall file with the superintendent a bond furnished by a surety company authorized to do business in this state. Until such time as the superintendent pursuant to administrative rule determines a bond amount that reflects the dollar value of the loans originated, the bond shall be in the amount of twenty-five thousand dollars. The bond shall be continuous in nature until canceled by the surety with not less than thirty days’ notice in writing to the applicant and to the superintendent indicating the surety’s intention to cancel the bond on a specific date. The bond shall be for the use of the state and any persons who may have causes of action against the applicant. The bond shall be conditioned upon the applicant’s faithfully conforming to and abiding by this chapter and any rules adopted under this chapter and shall require that the surety pay to the state and to any persons all moneys that become due or owing to the state and to the persons from the applicant by virtue of this chapter.   2. In lieu of filing a bond, the applicant may pledge an alternative form of collateral acceptable to the superintendent, if the alternative collateral provides protection to the state and any aggrieved person that is equivalent to that provided by a bond.  2008 Acts, ch 1160, §32; 2009 Acts, ch 61, §44, 47
IA Code § 536A.8 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.8 - Capital stock requirement.

536A.8 Capital stock requirement.   The paid-in capital stock of any corporation engaged in the business of operating an industrial loan company shall not be less than twenty-five thousand dollars when the corporation is transacting business in any city having less than twenty-five thousand inhabitants according to the last preceding decennial census. The paid-in capital stock of any corporation engaged in the business of operating an industrial loan company in any city having a population of more than twenty-five thousand inhabitants according to the last preceding decennial census shall not be less than fifty thousand dollars. The paid-in capital stock of any corporation engaged in the business of operating an industrial loan company outside the limits of any incorporated city shall not be less than fifty thousand dollars. Every corporation engaged in the industrial loan business in the state of Iowa shall have a surplus of not less than ten percent of its paid-in capital stock.  [C66, 71, 73, 75, 77, 79, 81, §536A.8]  Referred to in §536A.10, 536A.30
IA Code § 536A.9 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.9 - Investigation of application.

536A.9 Investigation of application.   Upon the filing of an application for a license to engage in the business of operating an industrial loan company, and upon payment of the investigation fee and license fee as required by section 536A.7, the superintendent shall cause an investigation to be made of the facts set forth in the application. If as the result of the preliminary investigation the superintendent deems it proper, the superintendent may hold a hearing at a time and place designated by the superintendent for the purpose of completing the superintendent’s investigation.  [C66, 71, 73, 75, 77, 79, 81, §536A.9]
IA Code § 536A.10 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.10 - Issuance of license.

536A.10 Issuance of license.   1. The superintendent shall approve the application and issue to the applicant a license to engage in the industrial loan business in accordance with the provisions of this chapter, if the superintendent shall find:   a. That the financial responsibility, experience, character and general fitness of the applicant and of the officers thereof are such as to command the confidence of the community, and to warrant the belief that the business will be operated honestly, fairly and efficiently within the purpose of this chapter;   b. That a reasonable necessity exists for a new industrial loan company in the community to be served;   c. That the applicant has available for the operation of the business at the specified location paid-in capital and surplus as required by section 536A.8; and   d. That the applicant is a corporation organized for pecuniary profit under the laws of the state of Iowa.   2. The superintendent shall approve or deny an application for a license within one hundred twenty days from the date of the filing of such application.  [C66, 71, 73, 75, 77, 79, 81, §536A.10]  2012 Acts, ch 1023, §139; 2012 Acts, ch 1138, §74  Referred to in §536A.30
IA Code § 536A.11 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.11 - Denial of license.

536A.11 Denial of license.   1. If the superintendent shall not approve the application, the superintendent shall prepare a written denial of the application with a written finding of facts which shall be sent by certified mail to the applicant. Within fifteen days after mailing of notice of the denial of its application, the applicant may file with the superintendent a written demand for a hearing on the application. Upon such demand being made, the superintendent must within thirty days hold a formal hearing at the superintendent’s office in Des Moines, Iowa, notice of the time of which hearing shall be given by the superintendent to the applicant by mail within fifteen days after the filing of the written demand by the applicant. Notice of the time and place of hearing shall also be given by the superintendent to all corporations holding licenses to engage in the industrial loan business in the county where the applicant proposes to establish its business and notice of said time and place of hearing shall be published pursuant to section 618.14.   2. At the formal hearing after the original denial of the license by the superintendent, the applicant shall be entitled to present evidence in support of the application. The superintendent shall then grant or deny the application for a license within thirty days from the date of the formal hearing and give notice to the applicant by a decision and finding of facts in writing. If the application for a license is disapproved and a license is denied, the superintendent shall refund the annual license fee which was required to be deposited by section 536A.7 providing the cost of investigation does not exceed the investigation fee. If the cost of investigation exceeds the investigation fee, the excess cost shall be deducted from the license fee before any refund is made.   3. Judicial review of actions of the superintendent may be sought in accordance with the terms of the Iowa administrative procedure Act, chapter 17A.  [C66, 71, 73, 75, 77, 79, 81, §536A.11]  2003 Acts, ch 44, §114; 2018 Acts, ch 1041, §127
IA Code § 536A.13 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.13 - Books and records.

536A.13 Books and records.   Each industrial loan company shall keep such books, accounts and records as will enable the superintendent to determine whether or not the licensee is complying with the provisions of this chapter. Industrial loan companies shall not be required to preserve or keep their records or files for a longer period than eleven years next after the first day of January of the year following the time of the making or filing of such records or files.  [C66, 71, 73, 75, 77, 79, 81, §536A.13]
IA Code § 536A.14 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.14 - Reports.

536A.14 Reports.   1. a. Each licensee shall annually on or before the fifteenth day of April file with the superintendent a report in writing showing the results of the operation of its industrial loan business for the previous calendar year, which reports shall contain:   (1) A balance sheet showing all assets and liabilities as of the thirty-first day of December next preceding.   (2) An operating statement showing income, expenses, and net profit for the previous calendar year.   (3) Such other relevant information as the superintendent shall reasonably require.   b. The report shall be verified under oath by the president and secretary of the corporation. The superintendent shall make and publish annually an analysis and recapitulation of such reports.   2. Each licensee making residential mortgage loans shall submit to the nationwide mortgage licensing system and registry reports of condition, which shall be in such form and shall contain such information as the nationwide mortgage licensing system and registry may require. For purposes of this subsection, “nationwide mortgage licensing system and registry” and “residential mortgage loan” mean the same as defined in section 535D.3.  [C66, 71, 73, 75, 77, 79, 81, §536A.14]  2008 Acts, ch 1160, §33; 2009 Acts, ch 61, §45, 47  Referred to in §535D.23
IA Code § 536A.15 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.15 - Examination of licensees.

536A.15 Examination of licensees.   1. The superintendent or the superintendent’s designee shall, at least once each year without previous notice, examine the books, accounts, and records of each licensee engaged in the industrial loan business as defined by this chapter. A licensee issuing senior debt to the general public shall be audited at the expense of the licensee by a certified public accountant licensed to practice in the state of Iowa. A licensee not issuing senior debt to the general public may provide an audited statement of the licensee’s parent corporation which includes the Iowa licensee. After receiving such an audit or audited statement, the superintendent may make further examination of the licensee as the superintendent deems necessary. A record of each examination shall be kept in the superintendent’s office.   2. Except as otherwise provided by this chapter, all papers, documents, examination reports, and other writing relating to the supervision of licensees are not public records and are not subject to disclosure under chapter 22. The superintendent may disclose information to representatives of other state or federal regulatory authorities. The superintendent may release summary complaint information so long as the information does not specifically identify the complainant. The superintendent may prepare and circulate reports reflecting financial information and examination results for all licensees on an aggregate basis, including other information considered pertinent to the purpose of each report for general statistical information. The superintendent may prepare and circulate reports provided by law. The superintendent may release the reports and correspondence in the course of an enforcement proceeding or a hearing held by the superintendent. The superintendent may also provide this information to the attorney general for purposes of enforcing this chapter or the consumer fraud Act, section 714.16.   3. Any evidence of criminal acts committed by officers, directors, or employees of an industrial loan company shall be reported by the superintendent to the proper authorities.   4. The licensee shall be charged and shall pay the actual costs of the examination as determined by the superintendent based on the actual cost of the operation of the finance bureau of the banking division of the department of commerce including the proportionate share of administrative expenses in the operation of the banking division attributable to the finance bureau as determined by the superintendent incurred in the discharge of the duties imposed upon the superintendent by this chapter. Failure to pay the examination fee within thirty days of receipt of demand from the superintendent shall subject the licensee to a late fee of five percent of the amount of the examination fee for each day the payment is delinquent.  [C66, 71, 73, 75, 77, 79, 81, §536A.15]  87 Acts, ch 11, §3; 2006 Acts, ch 1042, §45  Referred to in §536A.30, 537.2305
IA Code § 536A.16 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.16 - Cease and desist orders.

536A.16 Cease and desist orders.   If the superintendent has reasonable cause to believe that a licensee is violating this chapter or rules adopted pursuant to this chapter, the superintendent may, after ten days’ advance written notice, in addition to all actions provided for in this chapter, and without prejudice, enter an order requiring the licensee to cease, desist, and refrain from the violation. After receipt of the advance written notice, the licensee, within five days from the receipt of the notice, may file with the superintendent a written demand for a hearing. Hearings shall promptly be held in the office of the superintendent and a cease and desist order shall not be issued until after the hearing. The licensee shall be entitled to present evidence and the testimony of witnesses at the hearing.  [C66, 71, 73, 75, 77, 79, 81, §536A.16; 82 Acts, ch 1253, §37]  91 Acts, ch 63, §1
IA Code § 536A.17 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.17 - Injunctions.

536A.17 Injunctions.   The superintendent by counsel of the attorney general may commence an action in the district court, in the name of the state of Iowa as plaintiff on the relation of the superintendent to restrain and enjoin any licensee from violating this chapter or rules adopted pursuant to this chapter, or to restrain and enjoin any person, partnership, firm, or corporation from engaging in the business of operating an industrial loan company without obtaining a license as required by this chapter.  [C66, 71, 73, 75, 77, 79, 81, §536A.17; 82 Acts, ch 1253, §38]  91 Acts, ch 63, §2; 2008 Acts, ch 1032, §106
IA Code § 536A.18 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.18 - Disciplinary action.

536A.18 Disciplinary action.   1. The superintendent may, after notice and hearing pursuant to chapter 17A, take disciplinary action against a licensee if the superintendent finds any of the following:   a. That the licensee has failed to pay the annual license fee required by this chapter or to maintain in effect the bond or bonds required under this chapter.   b. That the licensee has violated any of the provisions of this chapter or a rule adopted under this chapter or any other state or federal law, rule, or regulation applicable to the conduct of its business.   c. That the licensee has refused to submit to the examination required by this chapter.   d. That the licensee has neglected or refused for a period of more than thirty days to pay a final judgment rendered against it in the courts of this state.   e. That the licensee has become insolvent.   f. A fact or condition exists which would have warranted the superintendent to refuse to originally issue the license.   g. The licensee has violated an order of the superintendent.   2. The superintendent may impose one or more of the following disciplinary actions against a licensee:   a. Revoke a license.   b. Suspend a license until further order of the superintendent or for a specified period of time.   c. Impose a period of probation under specified conditions.   d. Impose civil penalties in an amount not to exceed five thousand dollars for each violation.   e. Issue a citation and warning respecting licensee behavior.   f. Order the licensee to pay restitution.   3. The superintendent may order an emergency suspension of a licensee’s license pursuant to section 17A.18A. A written order containing the facts or conduct which warrants the emergency action shall be timely sent to the licensee by restricted certified mail. Upon issuance of the suspension order, the licensee must also be notified of the right to an evidentiary hearing. A suspension proceeding shall be promptly instituted and determined.   4. Except as provided in this section, a license shall not be revoked or suspended except after notice and a hearing thereon in accordance with chapter 17A.   5. A licensee may surrender a license by delivering to the superintendent written notice of surrender, but a surrender does not affect the licensee’s civil or criminal liability for acts committed before the surrender.   6. A suspension, revocation, relinquishment, or expiration of a license shall not invalidate, impair, or affect the legality of obligations of any preexisting contracts, or prevent the enforcement or collection thereof.   7. Judicial review of the actions of the superintendent may be sought in accordance with the terms of the Iowa administrative procedure Act, chapter 17A.  [C66, 71, 73, 75, 77, 79, 81, §536A.18]  2003 Acts, ch 44, §114; 2008 Acts, ch 1160, §34
IA Code § 536A.19 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.19 - Receivership — liquidation.

536A.19 Receivership — liquidation.   1. If the superintendent revokes the license of any industrial loan company, the superintendent shall promptly report the revocation to the attorney general, who may apply to the district court of the county in which the licensee had conducted its business for the appointment of a receiver to take possession of the assets of the corporation for the purpose of liquidating its affairs. The court shall appoint the superintendent as receiver unless the superintendent has tendered the appointment to the federal deposit insurance corporation, in which case the court shall appoint the federal deposit insurance corporation as receiver. The affairs of the industrial loan company, after such appointment, shall be under the direction of the court. The attorney general shall represent the superintendent in all proceedings connected with the receivership.   2. When an insured industrial loan company has ceased to carry on its business, the superintendent may tender the appointment as receiver of the insured industrial loan company to the federal deposit insurance corporation. If the federal deposit insurance corporation accepts the appointment as receiver, the rights of depositors and other creditors of the insured industrial loan company shall be determined in accordance with the laws of this state.   3. The federal deposit insurance corporation as receiver shall possess all of the powers, rights, and privileges of the superintendent in connection with the liquidation.   4. If the federal deposit insurance corporation pays or makes available for payment the insured deposit liabilities of an insured industrial loan company, the federal deposit insurance corporation, whether or not it has become receiver, shall be subrogated to all rights of the owners of such deposits against the insured industrial loan company in the same manner and to the same extent as subrogation of the federal deposit insurance corporation is provided for in applicable federal law with respect to a national bank.  [C66, 71, 73, 75, 77, 79, 81, §536A.19]  96 Acts, ch 1159, §2
IA Code § 536A.21 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 536A - INDUSTRIAL LOANS|Section 536A.21 - Other business in same office.

536A.21 Other business in same office.   A licensee engaged in the business of operating an industrial loan company under the provisions of this chapter may not conduct its business within any office, room, suite, place of business, or premises in which commercial activities are conducted, unless the place where its business is conducted by the industrial loan company is physically separated from the location where commercial activities are conducted and has a separate entrance. The prohibition of this section shall not apply to the conduct of business if, prior to January 1, 2006, the superintendent has determined in writing that the character of the other business is such that its operation by the licensee would not facilitate evasions of the provisions of this chapter or any other provision of the Code relating to the making of loans.  [C66, 71, 73, 75, 77, 79, 81, §536A.21]  2006 Acts, ch 1015, §16