Without advance notice or a hearing, the commissioner may suspend immediately the certificate of authority of any insurer as to which proceedings for receivership, conservatorship, rehabilitation, or other delinquency proceedings have been commenced in any state by the public insurance supervisory official of that state.
Iowa Code § 507C.60
Suspension of certificate of authority
Known as the Insurers Supervision, Rehabilitation, and Liquidation Act
The act spans §§ 507–507 (63 sections).
2002 Acts, ch 1111, §7
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.