537.2310 Conduct of business other than making loans.
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/ia/chapter-537-consumer-credit-code/537-2310A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. Except as provided in subsection 2, a licensee authorized to make supervised loans pursuant to section 537.2301 may not engage in the business of selling or leasing tangible goods at a location where supervised loans are made. In this section, “location” means the entire space in which supervised loans are made and the location must be separated from any space where goods are sold or leased by walls which may be broken only by a passageway to which the public is not admitted.
2. This section does not apply to:
a. Occasional sales of property used in the ordinary course of business of the licensee.
b. Sales of items of collateral of which the licensee has taken possession.
c. Sales of items by a licensee who is also authorized by law to operate as a pawnbroker.
d. Sales of property or items by the licensee which are not for the profit of the licensee and which are sold for a price not exceeding fifty dollars.
[C75, 77, 79, 81, §537.2310; 82 Acts, ch 1253, §41]
Referred to in §537.1303