COMPILED CODE - Iowa Legislature - State of Iowa

395
Tit. XXI, Ch. 1-A. CHATTEL LOANS. §§ 5894-a3-5894-a6.
3 of the applicant, and if the applicant is a copartnership, of every
4 member thereof, or if a corporation, of each officer thereof; also the
5 county and municipality, with street and number, if any, where the
6 business is to be conducted. Every such applicant at the time of mak-
7 ing such application, shall pay to the licensing official the sum of'one
8 hundred dollars as an annual license fee and in full payment of all '
9 expenses of examinations under, and administration of this chapter;
10 provided that if the license is issued for a period of less than twelve
11 months the license fee shall be prorated according to the number of
12 months that said license shall run.
[39 G. A., ch. 35, § 2.]
SEC. 5894-a3. Bond—amount—conditions.
1 The applicant shall also, at the same time, file with the licensing
2 official a bond in which the applicant shall be the obligor, in the sum
3 of one thousand dollars with one or more sureties, (whose liability
4 as such sureties, in the aggregate, shall not exceed one thousand dol-
5 lars), to be approved by the licensing official which bond shall run
6 to the state of Iowa for the use of the state and of any person, or
7 persons who may have a cause of action against the obligor of said
8 bond under the provisions of this chapter. Such bond shall be con-
9 . ditioned that said obligor will conform to and abide by each and every
10 provision of this chapter and will pay to the state and to any such
11 person or persons, any and all moneys that may become due or owing
12 to the state and to such person, or persons, from said obligor, under
13 and by virtue of the provisions of this chapter.
[39 G. A., ch. 35, § 3.]
SEC. 5894-a4. Issuance of license—expiration.
1 Upon the filing of such application and the approval of said bond
2 and the payment of said fee, the licensing official shall issue a license
3 to the applicant to make loans in accordance with the provisions of
4 this chapter for a period which shall expire the first day of January
5 next following the date of its issuance. Such license shall not be
6 assignable.
. [39 G. A., ch. 35, § 4.]
SEC. 5894-a5. Inadequate bond.
1 If in the opinion of the licensing official the bond shall at any
2 time appear to be insecure, or exhausted, or otherwise doubtful, an
3 additional bond in the sum of not more than one thousand dollars
4 satisfactory to the licensing official shall be filed within ten days after
5 notice to the licensee and upon failure of the obligor to file such addi-
6 tional bond, the license shall be revoked by the licensing official.
[39 G. A., ch. 35, § 5.]
SEC. 5894-a6. Revocation of license.
1 The licensing official may, upon notice to the licensee and reason-
2 able opportunity to be heard, revoke such license if the licensee has
3 violated any provision of this chapter ; and in case the licensee shall
4 be convicted by a court a second time of a violation of section fifty-
5 eight hundred ninety-four-a thirteen of this supplement the licensing
6 official shall revoke such license ; provided that the second offense shall