537.6109 Assurance of discontinuance.
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/ia/chapter-537-consumer-credit-code/537-6109A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If it is claimed that a person has engaged in conduct which could be subject to an order by the administrator or by a court, the administrator may accept an assurance in writing that the person will not engage in the same or in similar conduct in the future. The assurance may include stipulations that the creditor will voluntarily pay the costs of investigation, or that an amount will be held in escrow as restitution to debtors aggrieved by future conduct of the creditor or as a reserve to cover costs of future investigation, or may include admissions of past specific acts by the creditor or admissions that those acts violated this chapter or other statutes.
A violation of an assurance of discontinuance is a violation of this chapter.
[C75, 77, 79, 81, §537.6109]
Referred to in §537.2303, 537.5201