103A.58 - MANUFACTURED HOME, MOBILE HOME, OR MODULAR HOME RETAIL INSTALLMENT CONTRACT -- FINANCE CHARGE.
103A.58 MANUFACTURED HOME, MOBILE HOME, OR MODULAR
HOME RETAIL INSTALLMENT CONTRACT -- FINANCE CHARGE.
1. A retail installment contract or agreement for the sale of a
manufactured home, mobile home, or modular home may include a finance
charge not in excess of an amount equivalent to one and three-fourths
percent per month simple interest on the declining balance of the
amount financed.
2. For purposes of this section, "amount financed" means the
same as defined in section 537.1301.
3. The limitations contained in this section do not apply in a
transaction referred to in section 535.2, subsection 2. With respect
to a consumer credit sale, as defined in section 537.1301, the
limitations contained in this section supersede conflicting
provisions of chapter 537, article 2, part 2. Section History: Recent Form
2006 Acts, ch 1090, §8, 26
Court action required for termination of installment contracts
during military service; §29A.102, 29A.105
Court action or parties agreement required for disposition of
property under obligation secured by mortgage, trust deed, or other
security during military service; §29A.103, 29A.104