Section 708A.600 - Charging off lossesAn institution shall charge off all debts:
(1) On which interest is past due and unpaid for 12 months, unless the debt is fully secured and in process of collection;(2) That an examiner has classified as a loss; or(3) Upon the instruction of the Director of the Department of Consumer and Business Services.Amended by 2015 Ch. 244,§ 72, eff. 6/4/2015, op. 1/1/2016.