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Code · Iowa · Chapter 537 — Consumer Credit Code

537.3610 Balloon payments prohibited.

62 words·~1 min read·/ia/chapter-537-consumer-credit-code/537-3610

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A lessee shall not be required, as a condition to acquiring ownership, to make a payment that is more than twice the amount of a regular rental payment, or to pay lease payments totaling more than the cost to acquire ownership as disclosed pursuant to section 537.3605. This section does not apply to payments made pursuant to section 537.3608, 537.3612, or 537.3619.
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