68B.24 - LOANS -- RECEIPT FROM LOBBYISTS PROHIBITED.
68B.24 LOANS -- RECEIPT FROM LOBBYISTS PROHIBITED.
1. An official, member of the general assembly, state employee,
legislative employee, or candidate for state office shall not,
directly or indirectly, seek or accept a loan or series of loans from
a person who is a lobbyist.
2. A lobbyist shall not, directly or indirectly, offer or make a
loan or series of loans to an official, member of the general
assembly, state employee, legislative employee, or candidate for
state office. A lobbyist shall also not, directly or indirectly,
join with one or more persons to offer or make a loan or series of
loans to an official, member of the general assembly, state employee,
legislative employee, or candidate for state office.
3. This section shall not apply to loans made in the ordinary
course of business. For purposes of this section, a loan is "made
in the ordinary course of business" when it is made by a person who
is regularly engaged in a business that makes loans to members of the
general public and the finance charges and other terms of the loan
are the same or substantially similar to the finance charges and loan
terms that are available to members of the general public. Section History: Recent Form
92 Acts, ch 1228, § 11; 93 Acts, ch 163, § 8
Referred to in § 68B.34