A license authorizes the holder to do something that he or she would not be entitled to do without the license. Licensing may be directed toward revenue raising purposes, or toward regulation of the licensed activity, or both. Statutes frequently require that a person obtain a license before practicing certain professions such as law or medicine, or before carrying on a particular business such as that of a real estate broker or stock broker. If the license is required to protect the public from unqualified persons, an assignment of that license to secure a loan would probably not be enforceable.
Iowa Assignment of Business License as Security for a Loan
Category:
State:
Multi-State
Control #:
US-01467BG
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Word;
Rich Text
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How to fill out Assignment Of Business License As Security For A Loan?
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FAQ
With respect to a loan other than a consumer loan, a person shall not engage in the business of making loans of money, credit, goods, or things in action in the amount or of the value of the threshold amount or less and charge, contract for, or receive on the loan a greater rate of interest or consideration for the ...
Penalty for Unlawful Interest Rate (Usury) It's unlawful to charge a higher rate of interest than permitted by these Iowa laws. If a person does charge above the allowed amount, the plaintiff can get a judgment to pay back only the principal debt without interest or costs.
