66 “Cardholder” means an individual to who a charge card is given. Iowa Code § 537.1301(7); a “charge card” is really a “card or unit granted under an arrangement pursuant to which a card-issuer provides cardholder the privilege of buying or leasing home or solutions, getting loans or elsewhere acquiring credit through the card provider or other individuals. ” Iowa Code § 537.1301(16). The utilization 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 really be construed in order that effect is provided to all its provisions, to ensure no right component will soon be inoperative or superfluous. ” 2A Sutherland Statutory Construction Sec. 46.06 (5th Ed. )
68 See also note 63, above. There being no history that is legislative there is absolutely no formal record as to the reasons card providers might have been singled away become allowed the NSF surcharge nevertheless, out-of-state nationwide banking institutions which issue the greater part of charge cards from their property base in another of a extremely 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 within the mid-80s. Read more