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

The association is exempt from the payment of fees and taxes levied by this state or a subdivision of the state except for taxes levied on property. 2000 Acts, ch 1035, §13

The rates and premiums charged for insurance policies to which this chapter applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association. Such rates a…

There shall be no liability on the part of, and no cause of action of any nature shall arise against, any member insurer, the association or its agents or employees, the board of directors, any committee established for the purpose of administering the affairs of the association,…

1. A proceeding to which the insolvent insurer is a party or in which the insolvent insurer is obligated to defend a party shall be stayed from the date of the insolvency to and including the date set as the deadline for the filing of claims against the insolvent insurer or its r…

An action against the association shall be brought against it in the association’s own name and only in the Polk county district court. Service of original notice in an action against the association shall be made on any officer of the association or upon the commissioner of insu…

Notwithstanding any other provision of this chapter , a covered claim shall not include a claim filed with the association after the final date set by the court for the filing of claims against the insolvent insurer or its receiver. 2000 Acts, ch 1035, §18

A person, in connection with the sale of an insurance policy, shall not advertise or publish that claims under the insurance policy are subject to this chapter or that such claims will be paid by the association. 2000 Acts, ch 1035, §19

This chapter applies to direct insurance authorized to be written by an insurer licensed to transact insurance business in this state under chapter 518 or 518A . 2000 Acts, ch 1035, §2

As used in this chapter unless the context otherwise requires: 1. “Association” means the Iowa county and state mutual insurance guaranty association established pursuant to section 518C.4 . 2. “Claimant” means an insured making a first-party claim or a person instituting a liabi…

An Iowa county and state mutual insurance guaranty association is established as a nonprofit unincorporated legal entity. An insurer shall be a member of the association as a condition of the insurer’s authority to transact insurance business in this state. The association shall …

1. The board of directors of the association shall consist of the officers and directors of the mutual insurance association of Iowa or its successor association, but only if such officers and directors are employed by a corporation organized as a county mutual insurance associat…

1. The association is subject to all of the following: a. (1) The association is obligated to pay a covered claim as follows: (a) A covered claim existing prior to the final order of liquidation and arising within thirty days after the final order of liquidation. (b) A covered cl…

1. a. The association shall submit a plan of operation to the commissioner, together with any amendments necessary or suitable to ensure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendment become effective upon written ap…

1. The commissioner shall do both of the following: a. Notify the association of the existence of an insolvent insurer not later than three days after the commissioner receives notice of the determination of the insolvency. b. Upon request of the board of directors, provide the a…

1. A person recovering under a claim made pursuant to this chapter is deemed to have assigned the person’s rights under the policy to the association to the extent of the person’s recovery from the association. A claimant seeking the protection of this chapter shall cooperate wit…