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

An endorsee of a portable electronics vendor that has been issued a portable electronics insurance license pursuant to this chapter may sell or offer insurance products under the authority of the vendor’s portable electronics insurance license if all of the following conditions h…

An endorsee may act on behalf of and under the supervision of a licensed portable electronics vendor in matters relating to transacting portable electronics insurance under that vendor’s license. The conduct of an endorsee acting within the scope of the endorsee’s employment or a…

1. If a licensed portable electronics vendor or endorsee violates any provision of this chapter or any other provision of this title , the commissioner may do any of the following: a. After notice and hearing, suspend or revoke the license of the portable electronics vendor. b. A…

A licensed portable electronics vendor shall not sell portable electronics insurance pursuant to this chapter unless, at the time of sale, or reasonably thereafter with respect to a sale or enrollment occurring by telephone, all of the following conditions are satisfied: 1. The p…

As used in this chapter , unless the context otherwise requires: 1. “Adjuster” means a person licensed pursuant to chapter 522C . 2. “Amount of loss” means the monetary amount determined to be necessary to properly repair or replace damage related to the scope of a loss for a cov…

1. An umpire may apply for reinstatement of an expired license up to one year after the license expiration date by submitting a request through the NIPR gateway, paying a reinstatement fee, and submitting evidence to the division that the umpire met the continuing education requi…

1. In addition to the costs each party is responsible for under section 522F.6 , each party to an appraisal that requires an umpire shall be responsible for an equal share of all reasonable and necessary fees and expenses incurred by the umpire. 2. If the parties settle before th…

A party or appraiser that objects for good cause to a selected umpire within the time limit specified in section 522F.14, subsection 3 , paragraph “b” , shall send the objection to all parties involved in the appraisal and, if applicable, to the judge who appointed the umpire fro…

1. An umpire shall act with due diligence, including but not limited to demonstrating accuracy, fairness, and timeliness throughout an appraisal process. 2. a. (1) No later than three business days after being hired by the parties to an appraisal and before beginning work as an u…

1. This section provides for the appraisal process if all of the following apply: a. The claimant’s insurance policy is delivered, issued for delivery, or renewed in this state. b. The property that is the subject of the claimant’s claim is located in this state, or the dispute i…

All property insurance policies delivered, issued for delivery, continued, or renewed in this state on or after January 1, 2026, shall contain an appraisal clause that complies with this chapter . 2025 Acts, ch 28, §70 NEW section

1. An appraiser and umpire shall act with due diligence in achieving an appraisal award. 2. An insurer’s payment of an appraisal award to an insured shall be subject to the limits of coverage, and other terms and conditions of the insured’s policy, including reductions for deduct…

1. An appraiser or umpire shall report to the commissioner any administrative action taken against the appraiser or umpire in another jurisdiction or by another administrative agency in this state within thirty calendar days of the final disposition of the matter. This report sha…

1. An appraiser or umpire shall have a continuing duty and obligation to keep, at the appraiser’s or umpire’s place of business, usual and customary records pertaining to appraisals undertaken by the appraiser or umpire. All such records shall be kept available for inspection by …

1. Whenever the commissioner believes that a person has been engaged, or is engaging, in a violation of this chapter or a rule adopted or an order issued under this chapter , and that a proceeding by the commissioner would be in the public interest, the commissioner shall issue a…

The commissioner may adopt rules pursuant to chapter 17A to administer this chapter . 2025 Acts, ch 28, §57 NEW section

1. The division may place on probation, suspend, revoke, or refuse to issue or renew an appraiser’s license or an umpire’s license, and may levy a civil penalty against an appraiser or umpire as provided in section 522F.21 , for one or more of the following causes: a. The apprais…

1. a. Upon a determination by the commissioner, after a hearing conducted pursuant to chapter 17A , that a person violated this chapter , the commissioner shall reduce the findings of the hearing to writing and deliver a copy of the findings to the person. b. Upon a determination…

1. a. A person licensed under this chapter as an appraiser or umpire whose license has been revoked or suspended by order, or who forfeited a license in connection with a disciplinary matter, may apply to the commissioner for reinstatement or reissuance in accordance with the ter…

1. The commissioner shall deny an appraiser’s or umpire’s application for license issuance, renewal, reinstatement, or reissuance; suspend a current license; or revoke a currently suspended license upon receipt of a certificate of noncompliance from the child support recovery uni…

If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the p…

1. A person shall not act as, or represent that the person is, an appraiser in this state unless the person is licensed under this chapter . A person that acts as an appraiser in this state solely for a crop hail or multiperil crop insurance claim shall not be subject to this cha…

1. A person who meets the requirements under section 522F.3 , unless otherwise denied licensure pursuant to section 522F.20 , shall be issued an appraiser license that is valid for two years from the date of issue. 2. The fee for a criminal history check shall be the same as any …

1. An appraiser may apply for reinstatement of an expired license up to one year after the license expiration date by submitting a request through the NIPR gateway, paying a reinstatement fee and a license renewal fee, and submitting evidence to the division that the appraiser me…

1. Each party to an appraisal shall be responsible for the following: a. The party’s own appraiser’s fees and expenses. b. An equal share of all reasonable and necessary fees and expenses incurred by an umpire, if necessary. c. An equal share of all reasonable and necessary costs…

1. An appraiser shall act with due diligence, including but not limited to demonstrating accuracy, fairness, and timeliness throughout an appraisal process. 2. a. (1) No later than five business days after being hired by a party to an appraisal and before beginning work as an app…

1. An individual shall not act as, or represent that the individual is, an umpire in this state unless the individual is licensed under this chapter . An individual that acts as an umpire in this state solely for a crop hail or multiperil crop insurance claim shall not be subject…

1. An individual who meets the requirements of section 522F.8 , unless otherwise denied licensure pursuant to section 522F.20 , shall be issued an umpire license that is valid for two years from the date of issue. 2. The fee for a criminal history check shall be the same as any a…

Any insurance company or association organized under the laws of this state, may provide in its articles of incorporation, that its members or stockholders may vote by proxies, voluntarily given, upon all matters of business coming before the stated or called meetings of the stoc…

The provisions of section 523.8 shall not apply to any purchase and sale, or sale and purchase, and the provisions of section 523.9 shall not apply to any sale, of an equity security of a domestic stock insurance company not then or theretofore held in an investment account by a …

The provisions of sections 523.7 , 523.8 , and 523.9 shall not apply to foreign or domestic arbitrage transactions unless made in contravention of such rules and regulations as the commissioner may adopt in order to carry out the purposes of sections 523.7 through 523.10 , this s…

The term “equity security” when used in sections 523.7 through 523.11 , this section , and sections 523.13 and 523.14 means any stock or similar security; or any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscri…

The provisions of sections 523.7 , 523.8 , and 523.9 shall not apply to equity securities of a domestic stock insurance company if either of the following apply: 1. The securities are registered, or are required to be registered, pursuant to section 12 of the Securities Exchange …

The commissioner shall have the power to make such rules and regulations as may be necessary for the execution of the functions vested in the commissioner by sections 523.7 through 523.13 , and may for such purpose classify domestic stock insurance companies, securities, and othe…

The commissioner of insurance shall promulgate such rules with respect to the solicitation and voting of proxies as will in the commissioner’s opinion best protect the interests of all stockholders or policyholders from whom they are solicited. Any violation of any rule promulgat…

1. Every person who is directly or indirectly the beneficial owner of more than ten percent of any class of any equity security of a domestic stock insurance company, or who is a director or an officer of such company, shall file in the office of the commissioner of insurance as …

For the purpose of preventing the unfair use of information which may have been obtained by such beneficial owner, director or officer by reason of the relationship to such company, any profit realized by the beneficial owner, director or officer from any purchase and sale, or an…

It shall be unlawful for any such beneficial owner, director or officer, directly or indirectly, to sell any equity security of such company if the person selling the security or the person’s principal does not own the security sold, or if owning the security, does not deliver it…

This chapter may be cited as the “Iowa Cemetery and Funeral Merchandise and Funeral Services Act” . 2001 Acts, ch 118, §17

For purposes of this chapter , unless the context otherwise requires: 1. “Authorized to do business within this state” means a person licensed, registered, or subject to regulation by an agency of the state of Iowa or who has filed a consent to service of process with the commiss…

Unless proceeding under section 523A.401 , 523A.402 , or 523A.403 , a seller must establish a trust fund prior to advertising, selling, promoting, or offering cemetery merchandise, funeral merchandise, funeral services, or a combination thereof in this state as follows: 1. The tr…

1. All funds held in trust pursuant to section 523A.201 shall be deposited in a financial institution within fifteen days following receipt of the funds. The financial institution shall hold the funds for the designated beneficiary until released. 2. All funds required to be depo…

1. A financial institution may serve as a trustee if granted those powers under the laws of this state or of the United States. A financial institution acting as a trustee of trust funds under this chapter shall invest the funds in accordance with applicable law. 2. A financial i…

1. A preneed seller shall file an annual report with the commissioner not later than April 15 on a form prescribed by the commissioner. 2. A preneed seller filing an annual report shall pay a filing fee of ten dollars per purchase agreement sold during the year covered by the rep…

1. A financial institution shall file with the commissioner not later than March 1 of each year an annual report on a form prescribed by the commissioner showing all funds deposited by a seller under a trust agreement during the previous year. Each report shall contain all inform…

1. The commissioner may conduct an examination under this chapter of any seller as often as the commissioner deems appropriate. If a seller has a trust arrangement, the commissioner shall conduct an examination of such seller doing business in this state not less than once every …