Receiverships.

1. The commissioner may notify the attorney general of the potential need for establishment of a receivership if a receivership is requested or consented to by a seller subject to this chapter . 2. The commissioner shall notify the attorney general of the potential need for establishment of a receivership if the commissioner finds that a seller subject to this chapter meets one or more of the following conditions: a. Is insolvent. b. Has utilized trust funds for personal or business purposes in a manner inconsistent with this chapter . c. The amount of funds currently held in trust for cemetery merchandise, funeral merchandise, and funeral services is less than the amount required in section 523A.201, subsection 2 or 3 , as applicable. d. Has refused to pay any just claim or demand based on a purchase agreement referred to in section 523A.201 . e. The commissioner finds upon investigation that a seller is unable to pay any claim or demand based on a purchase agreement which has been legally determined to be just and outstanding. f. A receivership has been established for a cemetery subject to chapter 523I that is owned or operated by a seller who is subject to this chapter . 3. The commissioner or attorney general may apply to the district court in any county of the state for the establishment of a receivership. Upon proof of any of the grounds for a receivership described in this section , the court may grant a receivership. 4. If a seller who is subject to this chapter owns or operates a cemetery subject to chapter 523I , for which a receivership has been established, the receivership provisions of section 523I.212 shall apply to any receivership established under this section . 2001 Acts, ch 118, §51 ; 2007 Acts, ch 175, §30, 31 ; 2008 Acts, ch 1103, §10 ; 2017 Acts, ch 14, §1 Referred to in §523A.812