Iowa Code § 535A.9
Tying arrangements prohibited
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2013
As of January 1, 2012
1. A financial institution which makes or offers to make real estate mortgage loans shall not:
1. A financial institution which makes or offers to make real estate mortgage loans shall not:
a. Grant or offer to grant a loan on the prior condition, that the borrower is required to contract with any specific person or organization for either of the following:
a. Grant or offer to grant a loan on the prior condition, that the borrower is required to contract with any specific person or organization for either of the following:
(1) Services of a real estate agent or broker.
(1) Services of a real estate agent or broker.
(2) Insurance services as an agent, broker, or underwriter.
(2) Insurance services as an agent, broker, or underwriter.
b. Use confidential credit status information that is used for qualifying a person for the purchase of real property for solicitation purposes either directly or indirectly by an affiliate subsidiary.
b. Use confidential credit status information that is used for qualifying a person for the purchase of real property for solicitation purposes either directly or indirectly by an affiliate subsidiary.
c. Attempt or permit a real estate or insurance subsidiary to attempt to create the impression in its advertising or in any communication that the customers of the subsidiary shall have priority access to the funds of the financial institution or are entitled to preferential interest rates or other terms.
c. Attempt or permit a real estate or insurance subsidiary to attempt to create the impression in its advertising or in any communication that the customers of the subsidiary shall have priority access to the funds of the financial institution or are entitled to preferential interest rates or other terms.
2. This section does not apply to the Iowa finance authority or a program operated pursuant to chapter 16.
2. This section does not apply to the Iowa finance authority or a program operated pursuant to chapter 16.
85 Acts, ch 238, §4; 85 Acts, ch 252, §56
85 Acts, ch 238, §4; 85 Acts, ch 252, §56
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.