Iowa — Industrial Loan Company License Bond
Iowa industrial loan companies licensed under Chapter536A must maintain security for their licensing duties. The required bond amount depends on whether the company conducts covered residential mortgage work and, if it does, its preceding year's volume.
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- Recorded state
- Iowa
- Bond type
- Consumer Finance / Lending Bond
- Category
- Financial services
What this bond does
Supply the continuous security required by Iowa Code536A.7A and the current industrial-loan licensing rules, separate from the company's capital and licensing requirements.
- Who needs it
- Corporations applying for or maintaining an Iowa industrial loan company license under Chapter536A.
- Who it protects
- The bond benefits the State and people with causes of action against the applicant. Its condition requires compliance with Chapter536A and its rules, and payment of money becoming due to those protected parties under that chapter. It does not insure the company's loans against ordinary borrower default.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Iowa Legislature: Industrial Loans, Chapter536A (opens in a new tab)Checked October 27, 2026
- Iowa Administrative Code: current Chapter187.16 (opens in a new tab)Checked October 27, 2026
Have these ready
- Identify the Chapter536A corporation and licensed place of business.
- Describe any making, arranging, brokering, processing or underwriting of residential mortgage loans.
- Bring preceding-year mortgage volume and the current required bond amount.
- Keep capital evidence separate; arrange accepted bond execution, filing and later amendments.
Questions about this bond
Does this cover every Iowa lending license?
No. This page concerns the industrial loan company license under Chapter536A. Chapter536 regulated-loan companies and other license types should use their own requirements.
When does the amount change with mortgage volume?
Current Rule16.3(5) provides a preceding-calendar-year residential mortgage volume schedule ranging from $25,000 to $150,000, with annual adjustment by March31. Identify the company's covered activities before choosing the amount.
Does a new location or company name affect the bond?
Current Rule16.6 requires advance notice through NMLS and proof that a new or amended bond reflects the new name or location.
Can I replace the bond with my own collateral?
Only if the superintendent accepts the alternative and it provides equivalent protection under Section536A.7A. Ordinary capital evidence is not an automatic replacement.