Title XIII, COMMERCE (Ch. 505 - 554I)

1. This chapter does not reduce the liability for unpaid assessments of the insureds on an impaired or insolvent insurer operating under a plan with assessment liability other than the plan of this chapter . 2. Records shall be kept of all negotiations and meetings in which the a…

The association is subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner by May 1 of each year, a financial report for the preceding calendar year and a report of its activities during the preceding calendar year. The f…

The association is exempt from payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on the association’s real property. 87 Acts, ch 223, §15

1. A member insurer and its agents and employees, the association and its agents and employees, members of the board of directors, and the commissioner and the commissioner’s representatives are not liable for any action taken by them or omission by them while acting within the s…

Proceedings in which the insolvent insurer is a party in a court in this state shall be stayed one hundred eighty days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the association on matters germane to its powers…

A person, including a member insurer, agent, or affiliate of a member insurer, shall not make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, or placed before the public in a newspaper…

1. a. A member insurer shall not deliver a policy or contract in Iowa to the policy owner, contract owner, certificate holder, or enrollee unless a summary document describing the general purposes and current provisions of this chapter and containing a disclosure in compliance wi…

1. An insurer may offset an assessment made pursuant to section 508C.9 against its premium tax liability pursuant to chapter 432 to the extent of twenty percent of the amount of the assessment for each of the five calendar years following the year in which the assessment was paid…

1. The purpose of this chapter is to protect, subject to certain limitations, the persons specified in section 508C.3, subsection 1 , against failure in the performance of contractual obligations under life, health, and annuity policies, plans, or contracts specified in section 5…

1. This chapter shall provide coverage under the policies and contracts specified in subsection 2 to all of the following: a. Persons, regardless of where they reside, except for nonresident certificate holders under group policies or contracts, who are the beneficiaries, assigne…

This chapter shall be liberally construed to effect its purpose as provided under section 508C.2 . 87 Acts, ch 223, §4

As used in this chapter , unless the context otherwise requires: 1. “Account” means any of the four accounts created under section 508C.6 . 2. “Association” means the Iowa life and health insurance guaranty association created in section 508C.6 . 3. “Authorized assessment” , or t…

1. A nonprofit legal entity is created to be known as the Iowa life and health insurance guaranty association. All member insurers shall be and shall remain members of the association as a condition of their authority to transact insurance or health maintenance organization busin…

1. The board of directors of the association shall consist of not less than seven nor more than eleven member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers, subject to the approval of the commissioner…

1. If a member insurer is an impaired insurer, the association, subject to conditions imposed by the association and approved by the impaired insurer and the commissioner, may take any of the following actions: a. Guarantee, assume, reissue, reinsure, or cause to be guaranteed, a…

1. The principal place of business of a plan sponsor or a person other than a natural person shall be determined by the association in its reasonable judgment by considering all of the following factors: a. The state in which the primary executive and administrative headquarters …

1. For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account established pursuant to section 508C.6 , at the time and for the amounts the board finds…