Iowa Code § 515.146
Certificate refused — administrative penalty
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2018
As of January 1, 2012
The commissioner of insurance shall withhold the commissioner’s certificate or permission of authority to do business from a company neglecting or failing to comply with this chapter. In addition, a company organized or authorized under this chapter which fails to file the annual statement referred to in section 515.63 in the time required shall pay and forfeit an administrative penalty in an amount of five hundred dollars to be collected in the name of the state for deposit as provided in section 505.7. The company’s right to transact further new business in this state shall immediately cease until the company has fully complied with this chapter. The commissioner may give notice to a company which has failed to file within the time required that the company is in violation of this section and, if the company fails to file the evidence of investment and statement within ten days of the date of the notice, the company shall forfeit and pay the additional sum of one hundred dollars for each day the failure continues, to be paid to the treasurer of state for deposit as provided in section 505.7.
The commissioner of insurance shall withhold the commissioner’s certificate or permission of authority to do business from a company neglecting or failing to comply with this chapter. In addition, a company organized or authorized under this chapter which fails to file the annual statement referred to in section 515.63 in the time required shall pay and forfeit an administrative penalty in an amount of five hundred dollars to be collected in the name of the state for deposit as provided in section 505.7. The company’s right to transact further new business in this state shall immediately cease until the company has fully complied with this chapter. The commissioner may give notice to a company which has failed to file within the time required that the company is in violation of this section and, if the company fails to file the evidence of investment and statement within ten days of the date of the notice, the company shall forfeit and pay the additional sum of one hundred dollars for each day the failure continues, to be paid to the treasurer of state for deposit as provided in section 505.7.
85 Acts, ch 228, §6; 91 Acts, ch 213, §26; 2007 Acts, ch 152, §3
85 Acts, ch 228, §6; 91 Acts, ch 213, §26; 2007 Acts, ch 152, §3
CS2007, §515.146
CS2007, §515.146
Former §515.146 repealed by 2007 Acts, ch 152, §84; see §515.114
2011 repeal of 2009 Acts, ch 181, §78, amendment to this section stricken pursuant to 2011 Acts, ch 127, §57, 89
Section not amended; footnote revised
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.