Iowa Code § 537.3305
No assignment of earnings
Iowa · Iowa Code Chapter 537 — Consumer Credit Code · Status: effective
Cite this
- Citation
- Iowa Code § 537.3305, No assignment of earnings, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2271328
- Permanent ID
ys:prov:2271328@1- SHA-256
9cee366046ed9d63b9ff10bc67a5974afde2ae3cea3703f463f495920e01b051
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
1. A creditor may not take an assignment of earnings of the consumer for payment or as security for payment of a debt arising out of a consumer credit transaction. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the consumer. This section does not prohibit a consumer from authorizing deductions in favor of a creditor if the authorization is revocable, the consumer is given a complete copy of the writing evidencing the authorization at the time the consumer signs it, and the writing contains on its face a conspicuous notice of the consumer’s right to revoke the authorization.
2. A sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is deemed to be a loan to the seller secured by an assignment of earnings.