COMPILED CODE - Iowa Legislature - State of Iowa

394
§§ 5893-5894-a2. CHATTEL LOANS. Tit. XXI, Ch. 1-A.
TITLE XXI.
TRADE AND COMMERCE.
CHAPTER 1.
MONEY AND INTEREST.
SECTION 5893. Interest in excess of two per cent per month criminal—penalty.
1 Every person or persons, company, corporation or firm, and every
2 agent of any person, persons, company, corporation or firm, who shall
3 take or receive, or agree to take or receive directly or indirectly, by
4 means of commissions or brokerage charges, or otherwise, for the for-
5 bearance or use of money in the sum or amount of more than three
6 hundred dollars a rate greater than two per cent per month, shall be
7 deemed guilty of a misdemeanor, and, on conviction thereof, shall be
8 punished by a fine of not less than twenty-five dollars, nor more than
9 five hundred dollars, or by imprisonment in the county jail for a
10 period of not less than thirty days nor more than ninety days. Noth-
11 ing herein contained shall be construed as authorizing a higher rate
12 of interest than is now provided by law.
[S. S., '15, § 3041-a; 39 G. A., ch. 35, § 20.]
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CHAPTER 1>A.
CHATTEL LOANS.
NOTE: For law regulating loans in excess of $300.00, see section 5893 of this
supplement.
SECTION 5894-al. License required to make certain loans.
No person, copartnership, or corporation shall engage in the
business of making loans of money, credit, goods, or things in action
in the amount, or to the value of three hundred dollars, or less, and
charge,, contract for, or receive a greater rate of interest than eight
per centum per annum therefor, except as authorized by this chapter
and without first obtaining a license from the superintendent of banking,
hereinafter called the licensing official.
[39 G. A., ch. 35, § 1.]
SEC. 6894-a2. Application—form—fee.
1 Application for such license shall be in writing and shall contain
2 the full name and address, both of the residence and place of business,