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

Upon the failure of a state mutual insurance association to file a copy of its forms of policies or contracts pursuant to section 518A.52 , the commissioner of insurance may suspend its authority to transact business within the state until such forms of policies or contracts have…

1. If the commissioner finds that a filing does not meet the requirements of this chapter , written notice of disapproval shall be sent to the state mutual insurance association specifying in what respect the filing fails to meet the requirements of this chapter and stating that …

The commissioner of insurance may suspend a state mutual insurance association’s certificate of authority to do business if the association neglects or fails to comply with this chapter . 95 Acts, ch 185, §40 ; 2000 Acts, ch 1023, §53

The commissioner may adopt rules, pursuant to chapter 17A , as necessary for the administration of this chapter . 2009 Acts, ch 145, §48

Members of the association shall have the power to make or amend articles of incorporation at any membership meeting, provided that notice of such proposed addition or amendment has been mailed to each member of the association at least ten days in advance of the meeting in which…

Officers or directors shall be elected in the manner and for the length of time prescribed in the articles of incorporation or bylaws. The same person shall not simultaneously hold the offices of president and secretary. A director shall be a member of the association unless othe…

The directors of the association may enact the bylaws and regulations not inconsistent with law as they consider necessary for the regulation and conduct of the business. A change in the bylaws shall not limit coverage under existing policies of insurance. An association shall fi…

The articles of incorporation, and any subsequent amendments, to the articles of an organization shall be filed with and approved by the commissioner of insurance before filing with the secretary of state. The organization shall file with the commissioner bylaws and subsequent am…

An association, by action of its board of directors, may establish premium charges for the purpose of payment of losses and expenses and for the establishment or maintenance of a reserve fund. [C97, §1765; S13, §1759-h; C24, 27, 31, 35, 39, § 9037; C46, 50, 54, 58, 62, §518.9; C6…

An association doing business under this chapter shall not levy an assessment on any member of the association. 2000 Acts, ch 1023, §44

As used in this chapter , unless the context requires otherwise: 1. “The secretary” means the secretary of the United States department of housing and urban development. 2. “Farm property” means the residence, personal effects, other farm buildings and other personal property use…

There is hereby created the federal riot reinsurance reimbursement fund in the office of the treasurer of state which shall be operated under the joint control of the director of the department of administrative services and the commissioner. The fund shall consist of all payment…

The commissioner shall reimburse the secretary in an amount up to five percent of the aggregate property, except farm property insurance premiums earned in this state during the calendar year immediately preceding the calendar year with respect to which the secretary paid losses …

Whenever the secretary shall, in accordance with the Act, present to the state a request for reimbursement under the Act, the commissioner shall immediately assess all insurers which, during the calendar year with respect to which reimbursement is requested by the secretary, were…

1. The secretary shall be reimbursed up to the amount requested by warrants issued against the fund by the director of the department of administrative services upon vouchers approved by the director of the department of administrative services and the commissioner. If the assess…

In the event any insurer fails, by reason of insolvency, to pay any assessment, the commissioner shall cause the reimbursement ratios computed under section 518B.4 to be immediately recalculated excluding therefrom the insolvent insurer, so that its assessment is in effect assume…

Insurers shall include in filings submitted pursuant to chapter 515A , a factor, applicable to the line or lines of insurance on which the assessment is levied, sufficient to recover within not more than three years after the date of assessment any amounts so assessed under secti…

This chapter shall be known and may be cited as the “Iowa County and State Mutual Insurance Guaranty Association Act” . 2000 Acts, ch 1035, §1

1. A person having a claim under another policy, which claim arises out of the same facts which give rise to a covered claim, is first required to exhaust the person’s rights under the other policy. An amount recovered or recoverable by a person under another insurance policy sha…

1. a. The board of directors, upon majority vote and for purposes of detecting and preventing insurer insolvencies, may do either of the following: (1) Make recommendations to the commissioner for the detection and prevention of insurer insolvencies. (2) Respond to a request by t…

The association is subject to examination and regulation by the commissioner. The board of directors, not later than March 30 of each year, shall submit a financial report for the preceding calendar year in a form approved by the commissioner. 2000 Acts, ch 1035, §12 Referred to …

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…

Any number of physicians and surgeons, osteopathic physicians and surgeons, podiatric physicians, chiropractors, pharmacists, dentists, and graduate nurses, licensed to practice their profession in this state, and hospitals licensed under chapter 135B , may, by complying with the…

The commissioner of insurance shall have and exercise the same control over such corporations as the commissioner now has over state mutual insurance associations organized and doing business under chapter 518A . [C24, 27, 31, 35, 39, § 9079; C46, 50, 54, 58, 62, 66, 71, 73, 75, …

The provisions as to maximum liability of members to assessments when assets are insufficient and to assessments when the corporation is insolvent, found in section 518A.9 , shall apply to all mutual insurance corporations organized under this chapter . [C24, 27, 31, 35, 39, § 90…

Any mutual insurance association organized under the laws of any other state, for the purpose of transacting the kind of business described in this chapter , and which has on hand surplus amounting to not less than ten times the maximum single retained risk, and has not less than…

All laws, or parts of laws, in conflict herewith shall be so construed as not to include corporations regulated by this chapter . [C24, 27, 31, 35, 39, § 9082; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §519.13 ]

All corporations, organized for the purpose of transacting such insurance business under the provisions of this chapter , shall incorporate under the provisions of chapter 491 , and be known as mutual corporations; and are hereby empowered to collect such assessments, or premium …

The articles of incorporation, and any subsequent amendments, of such mutual insurance corporation shall be filed with and approved by the commissioner of insurance before being filed with the secretary of state. A mutual insurance corporation shall file with the commissioner byl…

No such mutual insurance corporation shall issue membership certificates, or policies, until its form of certificate or policy, shall have been submitted to, and approved by, the commissioner of insurance and until it has secured from such commissioner of insurance a certificate …

No such certificate shall be issued by the commissioner of insurance until two hundred fifty individual applications or ten or more applications from a hospital group, have been received, and until the commissioner of insurance is satisfied that such mutual insurance corporation …

Such mutual insurance corporations doing business under the provisions of this chapter shall, annually, before the first day of March, report to the commissioner of insurance, upon blanks furnished by the commissioner, the same facts, so far as applicable, as are required to be f…