Bill Text: IA SF2198 | 2019-2020 | 88th General Assembly | Enrolled
Bill Title: A bill for an act relating to notice provisions in connection with designated consumer lending provisions. (Formerly SSB 3011.) Effective date: 07/01/2020.
Spectrum: Committee Bill
Status: (Passed) 2020-03-12 - Signed by Governor. S.J. 615. [SF2198 Detail]
Download: Iowa-2019-SF2198-Enrolled.html
Senate
File
2198
-
Enrolled
Senate
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2198
AN
ACT
RELATING
TO
NOTICE
PROVISIONS
IN
CONNECTION
WITH
DESIGNATED
CONSUMER
LENDING
PROVISIONS.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
537.3205,
subsection
1,
Code
2020,
is
amended
to
read
as
follows:
1.
Whether
or
not
a
change
is
authorized
by
prior
agreement,
a
creditor
may
make
a
change
in
the
terms
of
an
open-end
credit
account
applying
to
any
balance
incurred
after
the
effective
date
of
the
change
only
if
the
creditor
delivers
or
mails
to
the
consumer
a
written
disclosure
of
the
change
at
least
sixty
Senate
File
2198,
p.
2
days
before
the
effective
date
of
the
change
in
accordance
with
12
C.F.R.
ยง1026.9
.
______________________________
CHARLES
SCHNEIDER
President
of
the
Senate
______________________________
PAT
GRASSLEY
Speaker
of
the
House
I
hereby
certify
that
this
bill
originated
in
the
Senate
and
is
known
as
Senate
File
2198,
Eighty-eighth
General
Assembly.
______________________________
W.
CHARLES
SMITHSON
Secretary
of
the
Senate
Approved
_______________,
2020
______________________________
KIM
REYNOLDS
Governor
