Chapter 53C — Motor Vehicle Retail Installment Sales Act

53C.01 Motor Vehicle Retail Installment Sales; Definitions This section defines key terms used in the motor vehicle retail installment sales laws, including 'retail buyer,' … 53C.02 Sales Finance Company; License, Fees, Refund This section requires sales finance companies to get a license from the commissioner of commerce before doing business … 53C.03 Suspension or Revocation of Vehicle Sales Finance Company License; Appeal This section allows the commissioner to suspend or revoke a vehicle sales finance company's license for violations like … 53C.04 Complaint Alleging Violation of Vehicle Sale Installment Contract Laws This section allows car buyers who believe the installment sales laws have been violated to file a written complaint … 53C.05 Testimonial Powers of Commissioner This section gives the commissioner the power to issue subpoenas, require testimony under oath, and compel production of … 53C.06 Vehicle Conditional Sales Installment Contract; Examination, Special Investigation, Cost Assessment This section gives the commissioner the authority to examine the books, records, and business practices of vehicle sales … 53C.07 Vehicle Sales Finance Company Books of Account, Annual Report This section requires vehicle sales finance companies to keep proper books and records and to file annual reports with … 53C.08 Motor Vehicle Retail Installment Contract This section sets out the required terms and disclosures for motor vehicle retail installment contracts. It covers what … 53C.083 Consumer Report Disclosure This section requires lenders and retail sellers to tell car buyers which credit reporting agencies were used to check … 53C.09 Finance Charge on Installment Contract for Vehicle or Manufactured Home This section sets the rules for how finance charges are calculated on vehicle and manufactured home installment … 53C.10 Vehicle Installment Contract Prepayment, Refund Credits, Allowance This section gives vehicle buyers the right to pay off their installment contract early and receive a refund of unearned … 53C.11 Extension of Vehicle Installment Contract Schedules, Payments This section allows the holder of a vehicle installment contract to extend payment deadlines or defer payments by … 53C.12 Vehicle Sales Finance Company Violations; Remedies This section sets out the penalties for violating the motor vehicle installment sales laws. Violations can result in … 53C.13 Severability Clause This section says that if any part of the Motor Vehicle Retail Installment Sales Act is found unconstitutional, the rest … 53C.14 Citation of Act This section provides the short title for the law. Sections 53C.01 to 53C.14 may be cited as the 'Motor Vehicle Retail …