Statutes | Iowa Code ยง 533A.1 | 2018
As used in this chapter:
1. "Allowable cost" means an actual, identifiable third-party expense incurred by the licensee on behalf of a specific debtor, such as postage and long distance telephone charges, that may be itemized and charged against the debtor for payment.
2. "Creditor" means a person for whose benefit moneys are being collected and distributed by licensees.
3. "Debt management" means the planning and management of the financial affairs of a debtor and the receiving therefrom of money or evidences thereof for the purpose of distributing the same to the debtor's creditors in payment or partial payment of the debtor's obligations for a fee.
4. "Debtor" means any natural person.
5. "Donation" means money given by the debtor to a licensee as a gift for debt management and outside of the debt management contract.
6. "Fee" means the moneys paid by the debtor to the licensee as payment for debt management and shall not include money paid to the licensee or held by the licensee for distribution to a creditor, allowable costs, a distribution to the debtor as a refund, or a donation.
7. "Gratuitous debt-management service" means debt management without charging a fee.
8. "Licensee" means any person licensed under this chapter.
9. "Natural person" means an individual who is not an association, joint venture, or joint stock company, partnership, limited partnership, business corporation, nonprofit corporation, other business entity, or any group of individuals or business entities, however organized.
10. "Office" means each location by street number, building number, city, and state where any person engages in debt management.
11. "Person" means an individual, an association, joint venture or joint stock company, partnership, limited partnership, business corporation, nonprofit corporation, or any other group of individuals however organized.
12. "Superintendent" means the superintendent of banking.