725.050 Prohibited transactions
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/or/ors-chapter-725/consumer-finance/725-050·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
725.050 Prohibited transactions. No licensee shall take:
(1)Any power of attorney from any borrower, except a power of attorney to effectuate the transfer of the ownership of any motor vehicle at the time of making a loan on a motor vehicle.
(2)Any note or promise to pay which does not accurately disclose the actual amount of the loan, the time for which it is made, the rate of interest charged or the schedule of payments agreed upon, or any instrument in which blanks are left to be filled in after execution. [Amended by 1955 c.71 §3; 1971 c.450 §2; 1979 c.88 §41; 1981 c.412 §13]