538A.6 Disclosure statement.
154 words·~1 min read·
/ia/chapter-538a-credit-services-organizations/538a-6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. Before executing a contract or agreement with a buyer, or receiving money or other valuable consideration, a credit services organization shall provide the buyer with a statement in writing, containing all of the following:
a. A complete and detailed description of the services to be performed by the credit services organization for the buyer and the total cost of the services.
b. A statement explaining the buyer’s rights to proceed against the bond or surety account required by section 538A.4.
c. The name and address of the surety company which issued the bond, or the name and address of the depository and the trustee, and the account number of the surety account.
2. The credit services organization shall maintain on file for a period of two years after the date the statement is provided, an exact copy of the statement, signed by the buyer, acknowledging receipt of the statement.
CS89, §533C.6
C93, §538A.6