Iowa Code § 554H.1 - Definitions

1. “Ammunition” means the same as defined in 18 U.S.C. §921. 2. “Covered entity” means an entity, or agent of an entity, that establishes a relationship with a retailer for the purpose of processing credit, debit, or prepaid transactions. 3. “Firearm” means the same as defined in 18 U.S.C. §921, and includes a shotgun, rifle, and antique firearm, as those terms are defined in 18 U.S.C. §921. 4. “Firearms retailer” means an individual or entity that is all of the following: a. Physically located in the state. b. Engaged in the lawful business of selling or trading firearms or ammunition. 5. “Merchant category code” means the code, approved by the international organization for standardization specifically for firearms retailers, that is assigned to a retailer based on the types of goods and services offered to a retailer’s customers. 6. a. “Payment card network” means an entity that, directly or through a member, processor, or agent, provides proprietary services, infrastructure, software, or hardware that is used to authorize, clear, and settle credit, debit, or prepaid transactions. b. “Payment card network” does not include an issuing financial institution that settles a credit, debit, or prepaid transaction with a retailer on behalf of a consumer. 2024 Acts, ch 1078, §1