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

1. A service company oversight fund is created in the state treasury as a separate fund under the control of the commissioner. The fund shall consist of all moneys deposited in the fund pursuant to subsection 2 . 2. The commissioner shall deposit in the service company oversight …

1. Application for a license as a service company shall be made to and filed with the commissioner on forms approved by the commissioner and shall include all of the following information: a. The name and principal address of the applicant. b. The state of incorporation of the ap…

1. Each license issued under this chapter shall be valid for a period of one year and shall be renewed by August 31 of each year following the date of issuance. 2. An application for renewal shall include the information required for an initial license as described in section 523…

In order to assure the faithful performance of a service company’s obligations to its contract holders in this state, a licensed service company shall demonstrate financial responsibility to the commissioner by satisfying one of the following, as evidenced by the service company:…

1. Requirements. A reimbursement insurance policy insuring a motor vehicle service contract or residential service contract issued, sold, or offered for sale in this state shall provide for all of the following: a. The reimbursement insurance policy shall obligate the insurer tha…

1. A motor vehicle service contract or residential service contract shall not be issued, sold, or offered for sale in this state unless the service company does all of the following: a. Provides a receipt for the purchase of the service contract to the service contract holder. b.…

The commissioner may suspend or revoke or refuse to renew the license of a service company for any of the following grounds: 1. The service company violated a lawful order of the commissioner or any provision of this chapter . 2. The service company failed to pay any final judgme…

As used in this chapter , unless the context otherwise requires: 1. “Commissioner” means the commissioner of insurance or the deputy appointed under section 502.601 . 2. “Continuing care” means a continuum of supportive services, home health services, nursing services, medical se…

The division of insurance may adopt rules pursuant to chapter 17A as necessary and appropriate to implement this chapter , and may make further recommendations to the general assembly for the protection of residents and prospective residents of facilities under this chapter . 89 …

The commissioner may, for the purpose of discovering or investigating violations of this chapter or rules adopted pursuant to this chapter do any or all of the following: 1. Investigate the business and examine the books, accounts, records, and files used by a provider. With the …

1. Upon the commissioner’s determination that a provider has engaged, is engaging, or is about to engage in any act or practice constituting a violation of this chapter or a rule adopted pursuant to this chapter , the commissioner may issue a summary order directing the provider …

The commissioner may petition the district court in any county of the state for an injunction to restrain a person subject to this chapter and any agents, employees, or associates of the person from engaging in conduct or practices in violation of this chapter or rules adopted pu…

This chapter applies to a provider who executes a contract to provide continuing care or senior adult congregate living services in a facility or program, or extends the term of an existing contract to provide continuing care or senior adult congregate living services in a facili…

On or before March 1 of each year, a provider shall file a certification with the commissioner in a manner and according to requirements established by the commissioner. The certification shall be accompanied by a one hundred dollar administrative fee which fee shall be deposited…

1. At the time of, or prior to, the execution of a contract to provide continuing care or senior adult congregate living services, or at the time of, or prior to the provider’s acceptance of part or all of the entrance fee by or on behalf of a prospective resident, whichever occu…

1. A provider 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 or other publication, or in the form of a notice, circular, pa…

1. Prerequisite information. A provider shall not enter into a contract to provide continuing care or senior adult congregate living services that applies to a living unit that is part of a new facility or proposed expansion that is or will be located in this state unless the pro…

1. Disclosure. In addition to any other provisions prescribed by rules adopted under this chapter , each contract providing for continuing care or senior adult congregate living services by a provider shall be written in nontechnical language easily understood by a lay person and…

1. A provider is liable to the person contracting for continuing care or senior adult congregate living services for damages and repayment of all fees paid to the provider, facility, or person violating this chapter , less the reasonable value of care and lodging provided to the …

1. A person who violates a provision of this chapter or a rule adopted or order entered pursuant to this chapter commits a fraudulent practice as provided in chapter 714 . 2. This chapter does not limit the power of the state to punish any person for any conduct which constitutes…

This chapter shall be known and may be cited as the “Invention Development Services Act” . 92 Acts, ch 1114, §2

The general assembly declares that the purpose of this chapter is to safeguard the public against fraud, deceit, imposition, and financial hardship, and to foster and encourage competition, fair dealing, and prosperity in the field of invention development services by prohibiting…

As used in this chapter , unless the context otherwise requires: 1. “Business record” means a record maintained by an invention developer relating to invention development services, including but not limited to contracts, files, accounts, books, papers, photographs, and audio or …

1. If an invention developer contemplates entering into a contract or if the invention developer contemplates performance of a phase covered in a contract, the invention developer shall notify the customer by a written statement. The invention developer shall deliver to the custo…

1. A contract shall set forth information required in this section in at least ten point type. 2. The contract shall describe fully and in detail the services that the invention developer contracts to perform for the customer. 3. The contract shall state the following information…

1. An invention developer shall maintain as security evidence of financial responsibility as approved by the commissioner. The security shall be either a bond or cash deposit in an amount which is equal to the greater of either ten percent of the invention developer’s gross incom…

An invention developer shall not take a negotiable instrument from a customer as part of a contract, unless the negotiable instrument is a check constituting evidence of the customer’s obligation. A person in possession of a negotiable instrument is not a holder in due course as …

An invention developer shall maintain all records and correspondence relating to performance of each invention development contract for not less than three years after expiration of the contract. 92 Acts, ch 1114, §9 Referred to in §523G.5

1. The provisions of this chapter are not exclusive and do not relieve persons or a contract from compliance with other applicable law. 2. A contract which fails to comply with the applicable provisions of this chapter is unenforceable against the customer as contrary to public p…

When used in this chapter , unless the context otherwise requires: 1. “Affiliate” means a person controlling, controlled by, or under common control with another person, every officer or director of such a person, and every person occupying a similar status or performing similar …

A franchise imposes on the parties a duty of good faith in performance and enforcement of the franchise agreement. “Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade. 92 Acts, ch 1134, §10

A franchisor shall not prohibit a franchisee from, or enforce a prohibition against a franchisee, engaging in any lawful business at any location after a termination or refusal to renew by a franchisor, unless it is one which relies on a substantially similar marketing program as…

1. Except as provided in subsection 2 , a franchisor shall allow a franchisee to obtain equipment, fixtures, supplies, and services used in the establishment and operation of the franchised business from sources of the franchisee’s choosing, provided that such goods and services …

A person who violates a provision of this chapter or order issued under this chapter is liable for damages caused by the violation, including, but not limited to, costs and reasonable attorneys’ and experts’ fees, and subject to other appropriate relief including injunctive and o…

A condition, stipulation, or provision requiring the application of the law of another state in lieu of this chapter is void. 92 Acts, ch 1134, §14

This chapter does not limit any liability that may exist under another statute or at common law. Prior law governs all actions based on facts occurring before July 1, 1992. 92 Acts, ch 1134, §15

This chapter shall be liberally construed to effectuate its purposes. 92 Acts, ch 1134, §16

If any provision or clause of this chapter or any application of this chapter to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, a…

This chapter applies to a new or existing franchise that is operated in the state of Iowa. For purposes of this chapter , the franchise is operated in this state only if the premises from which the franchise is operated is physically located in this state. For purposes of this ch…

1. Notwithstanding section 523H.2 , this chapter does not apply to a franchise agreement which is entered into on or after July 1, 2000. A franchise agreement which is entered into on or after July 1, 2000, shall be subject to section 537A.10 . 2. This chapter shall govern all ac…

1. A provision in a franchise agreement restricting jurisdiction to a forum outside this state is void with respect to a claim otherwise enforceable under this chapter . 2. A civil action or proceeding arising out of a franchise may be commenced wherever jurisdiction over the par…

A condition, stipulation, or provision requiring a franchisee to waive compliance with or relieving a person of a duty or liability imposed by or a right provided by this chapter or a rule or order under this chapter is void. This section shall not affect the settlement of disput…

1. A franchisee may transfer the franchised business and franchise to a transferee, provided that the transferee satisfies the reasonable current qualifications of the franchisor for new franchisees. For the purposes of this section , a reasonable current qualification for a new …

1. If a franchisor develops, or grants to a franchisee the right to develop, a new outlet or location which sells essentially the same goods or services under the same trademark, service mark, trade name, logotype, or other commercial symbol as an existing franchisee and the new …

1. Except as otherwise provided by this chapter , a franchisor shall not terminate a franchise prior to the expiration of its term except for good cause. For purposes of this section , “good cause” is cause based upon a legitimate business reason. “Good cause” includes the failur…

1. A franchisor shall not refuse to renew a franchise unless both of the following apply: a. The franchisee has been notified of the franchisor’s intent not to renew at least six months prior to the expiration date or any extension of the franchise agreement. b. Any of the follow…