66 “Cardholder” means someone to who credit cards is granted. Iowa Code § 537.1301(7); a “charge card” is a “card or unit given under an arrangement pursuant to which a card-issuer provides a cardholder the privilege of buying or leasing home or solutions, getting loans or perhaps acquiring credit through the card provider or other individuals. ” Iowa Code § 537.1301(16). The usage of the definition of “cardholder” as an adjective modifying “agreement” limits the world of credit agreements pursuant to which the surcharge is permissible.
67 “A statute should always be construed in order for effect is directed at all its provisions, making sure that no part is supposed to be inoperative or superfluous. ” 2A Sutherland Statutory Construction Sec. 46.06 Ed that is(5th.
68 See also note 63, above. There being no legislative history, there’s absolutely no formal record as to the reasons credit card providers could have been singled away become allowed the NSF surcharge nonetheless, out-of-state nationwide banking institutions which issue the greater part of charge cards from their property base in another of a really few deregulated states (such as for instance Delaware and Southern Dakota), had started regularly imposing significant NSF costs, along side belated costs and over-the-limit (OTL) costs and greater rates of interest into the mid-80s. Read more ›