reglab/housing_qa huggingface dataset:
IA Code § 508D.9 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508D - MULTISTATE LIFE AND HEALTH INSURANCE RESOLUTION FACILITY|Section 508D.9 - Miscellaneous provisions.

508D.9 Miscellaneous provisions.   1. Records shall be kept of all negotiations and meetings in which the facility or the facility’s representatives are involved to discuss the activities of the facility in carrying out the powers and duties set out under section 508D.6. Records of negotiations or meetings shall be made public pursuant to chapter 22 only upon the termination of a liquidation, rehabilitation, or conservation proceeding involving the impaired or insolvent insurance company whose business was assumed by or assigned to the facility, upon the termination of the impairment or insolvency of the insurance company, or upon the order of a court of competent jurisdiction. This subsection does not limit the duty of the association to render a report of its activities under subsection 2.   2. The facility is subject to examination and regulation by the oversight organization. The board of directors shall submit to the oversight organization by June 1 of each year a financial report for the preceding calendar year and a report of its activities during the preceding calendar year. The financial report shall be in a form approved by the oversight organization.   3. The facility is exempt from payment of all fees and taxes levied by this state or any of its subdivisions on insurance companies, except taxes levied on the real property of the facility.   4. A member guaranty association and its agents and employees, the facility and its agents and employees, members of the board of directors, and the oversight organization and its representatives are not liable for any acts or omissions while acting within the scope of their employment and in the performance of their powers and duties under this chapter, except for acts or omissions not in good faith which involve intentional misconduct or which involve a knowing violation of law.  94 Acts, ch 1011, §9
IA Code § 508E.1 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.1 - Short title.

508E.1 Short title.   This Act may be cited as the “Viatical Settlements Act”.  2008 Acts, ch 1155, §1, 21
IA Code § 508E.1A (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.1A - Authority of the commissioner.

508E.1A Authority of the commissioner.   The commissioner shall regulate, but not prohibit, the sale of viatical settlements as provided in this chapter.  2000 Acts, ch 1147, §35  C2001, §508E.1  2008 Acts, ch 1155, §21  C2009, §508E.1A
IA Code § 508E.3A (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.3A - Immunity from liability.

508E.3A Immunity from liability. Repealed by  2008 Acts, ch 1155, §22  . See §508E.15.
IA Code § 508E.4 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.4 - License revocation and denial.

508E.4 License revocation and denial.   1. The commissioner may refuse to issue, suspend, revoke, or refuse to renew the license of a viatical settlement provider or viatical settlement broker if the commissioner finds that any of the following applies:   a. There was any material misrepresentation in the application for the license.   b. The licensee or any officer, partner, member, or key management personnel has been convicted of fraudulent or dishonest practices, is subject to a final administrative action, or is otherwise shown to be untrustworthy or incompetent.   c. The viatical settlement provider demonstrates a pattern of unreasonable payments to viators.   d. The licensee or any officer, partner, member, or key management personnel has been found guilty of, or has pleaded guilty or nolo contendere to, any felony, or to a misdemeanor involving fraud or moral turpitude, regardless of whether a judgment of conviction has been entered by the court.   e. The viatical settlement provider has entered into any viatical settlement contract form that has not been approved pursuant to this chapter.   f. The viatical settlement provider has failed to honor contractual obligations set out in a viatical settlement contract.   g. The licensee no longer meets the requirements for initial licensure.   h. The viatical settlement provider has assigned, transferred, or pledged a viaticated policy to a person other than a viatical settlement provider licensed in this state, viatical settlement purchaser, an accredited investor, or qualified institutional buyer as defined respectively in  17 C.F.R. §230.501(a)   or  17 C.F.R. §230.144A   as promulgated by the United States securities and exchange commission under the federal Securities Act of 1933, as amended, 15 U.S.C. §77a et seq., a financing entity, special purpose entity, or related provider trust.   i. The licensee or any officer, partner, member, or key management personnel has violated any provision of this chapter.   2. The commissioner may suspend, revoke, or refuse to renew the license of a viatical settlement broker or a life insurance producer operating as a viatical settlement broker pursuant to this chapter if the commissioner finds that the viatical settlement broker or life insurance producer has violated the provisions of this chapter or has otherwise engaged in bad faith conduct with one or more viators.   3. If the commissioner denies a license application or suspends, revokes, or refuses to renew the license of a viatical settlement provider or viatical settlement broker, or suspends, revokes, or refuses to renew a license of a life insurance producer operating as a viatical settlement broker pursuant to this chapter, the commissioner shall conduct a hearing in accordance with chapter 17A.  2000 Acts, ch 1147, §38; 2008 Acts, ch 1155, §4  Referred to in §522B.5A
IA Code § 508E.5 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.5 - Approval of viatical settlement contracts and disclosure statements.

508E.5 Approval of viatical settlement contracts and disclosure statements.   A person shall not use a viatical settlement contract form or provide to a viator a disclosure statement form in this state unless first filed with and approved by the commissioner. The commissioner shall disapprove a viatical settlement contract form or disclosure statement form if, in the commissioner’s opinion, the contract or provisions contained therein fail to meet the requirements of sections 508E.8, 508E.10, 508E.14, and 508E.15, subsection 2, or are unreasonable, contrary to the interests of the public, or otherwise misleading or unfair to the viator. At the commissioner’s discretion, the commissioner may require the submission of advertising material. The commissioner’s approval of any of the materials shall not be a defense or otherwise preclude a civil action for fraud.  2008 Acts, ch 1155, §5
IA Code § 508E.6 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.6 - Reporting requirements and privacy.

508E.6 Reporting requirements and privacy.   1. For any policy settled within five years of policy issuance, each viatical settlement provider shall file with the commissioner on or before March 1 of each year an annual statement containing such information as the commissioner may adopt by rule. In addition to any other requirements, the annual statement shall specify the total number, aggregate face amount, and life settlement proceeds of policies settled during the immediately preceding calendar year, together with a breakdown of the information by policy issue year. The annual statement shall also include the names of the insurance companies whose policies have been settled and the viatical settlement brokers that have settled said policies. Such information shall be limited to only those transactions where the viator is a resident of this state. Notwithstanding chapter 22, individual transaction data regarding the business of viatical settlements or data that could compromise the privacy of personal, financial, and health information of the viator or insured shall be filed with the commissioner on a confidential basis.   2. Except as otherwise allowed or required by law, a viatical settlement provider, viatical settlement broker, insurance company, insurance producer, information bureau, rating agency or company, or any other person with actual knowledge of an insured’s identity shall not disclose that identity as an insured, or the insured’s financial or medical information to any other person unless the disclosure is any of the following:   a. Necessary to effect a viatical settlement between the viator and a viatical settlement provider and the viator and insured have provided prior written consent to the disclosure.   b. Provided in response to an investigation or examination by the commissioner or any other governmental officer or agency or pursuant to the requirements of section 508E.15, subsection 3.   c. A term of or condition to the transfer of a policy by one viatical settlement provider to another viatical settlement provider.   d. Necessary to permit a financing entity, related provider trust, or special purpose entity to finance the purchase of policies by a viatical settlement provider and the viator and insured have provided prior written consent to the disclosure.   e. Necessary to allow the viatical settlement provider, viatical settlement broker, or their authorized representatives to make contacts for the purpose of determining health status.   f. Required to purchase stop-loss coverage or financial guaranty insurance.  2008 Acts, ch 1155, §6
IA Code § 508E.9 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.9 - Disclosure to insurer.

508E.9 Disclosure to insurer.   A viatical settlement broker, or viatical settlement provider, shall fully disclose to an insurer a transaction or series of transactions to which the viatical settlement broker or viatical settlement provider is a party to originate, renew, continue, or finance a life insurance policy with the insurer for the purpose of engaging in the business of viatical settlements at any time prior to, or during the first five years after, issuance of the policy.  2008 Acts, ch 1155, §9
IA Code § 508E.11 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.11 - Prohibited practices.

508E.11 Prohibited practices.   1. Except as provided in section 508E.12, it is a violation of this chapter for any person to enter into a viatical settlement contract at any time prior to the application or issuance of a policy which is the subject of a viatical settlement contract or within a five-year period commencing with the date of issuance of the insurance policy or certificate.   2. An insurer shall not, as a condition of responding to a request for verification of coverage or effecting the transfer of a policy pursuant to a viatical settlement contract, require that the viator, insured, viatical settlement provider, or viatical settlement broker sign any form, disclosure, consent, or waiver form that has not been expressly approved by the commissioner for use in connection with viatical settlement contracts in this state.   3. Upon receipt of a properly completed request for change of ownership or beneficiary of a policy, the insurer shall respond in writing within twenty days, with written acknowledgment confirming that the change has been effected or specifying the reasons why the requested change cannot be processed. The insurer shall not unreasonably delay effecting a change of ownership or beneficiary and shall not otherwise seek to interfere with any viatical settlement contract lawfully entered into in this state.  2008 Acts, ch 1155, §11  Referred to in §508E.10, 508E.12
IA Code § 508E.16 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.16 - Injunctions — civil remedies — cease and desist orders — civil penalty.

508E.16 Injunctions — civil remedies — cease and desist orders — civil penalty.   1. In addition to the penalties and other enforcement provisions of this chapter, if any person violates this chapter or any rule implementing this chapter, the commissioner may seek an injunction in a court of competent jurisdiction and may apply for a temporary or permanent order that the commissioner determines is necessary to restrain the person from committing the violation.   2. A person damaged by the act of a person in violation of this chapter may bring a civil action against the person committing the violation in a court of competent jurisdiction.   3. The commissioner may issue, in accordance with chapter 17A, a cease and desist order upon a person that violates any provision of this chapter, any rule or order adopted by the commissioner, or any written agreement entered into with the commissioner.   4. When the commissioner finds that an activity in violation of this chapter presents an immediate danger to the health, safety, or welfare of the public requiring immediate agency action, the commissioner may proceed under section 17A.18A.   5. In addition to the penalties and other enforcement provisions of this chapter, any person who violates this chapter is subject to a civil penalty of up to five thousand dollars for each violation of this chapter. The civil penalty shall be deposited as provided in section 505.7. If a person has not been ordered to pay restitution by a court, the commissioner’s order may require a person found to be in violation of this chapter to make restitution to a person aggrieved by a violation of this chapter.   6. Except for a fraudulent viatical settlement act committed by a viator, the enforcement provisions and penalties of this section shall not apply to a viator.  2008 Acts, ch 1155, §16; 2009 Acts, ch 181, §70
IA Code § 508E.17 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.17 - Unfair trade practices.

508E.17 Unfair trade practices.   A violation of this chapter, including the commission of a fraudulent viatical settlement act, is an unfair trade practice under chapter 507B and a person convicted of the violation is subject to the penalties contained in that chapter.  2008 Acts, ch 1155, §17  Referred to in §508E.10
IA Code § 508E.18 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.18 - Criminal penalties.

508E.18 Criminal penalties.   1. a. A person acting in this state as a viatical settlement provider or viatical settlement broker, without being licensed pursuant to section 508E.3, who willfully violates any provision of this chapter or any rule adopted or order issued under this chapter, is guilty of a class “D” felony.   b. A person acting in this state as a viatical settlement provider or viatical settlement broker, without proper licensure, who willfully violates any provision of this chapter, or any rule adopted or order issued under this chapter, and when such violation results in a loss of more than ten thousand dollars, is guilty of a class “C” felony.   2. The commissioner may refer such evidence as is available concerning violations of this chapter or of any rule adopted or order issued under this chapter, or of the failure of a person to comply with the licensing requirements of this chapter, to the attorney general or the proper county attorney who may, with or without such reference, institute the appropriate criminal proceedings under this chapter.  2008 Acts, ch 1155, §18
IA Code § 508E.19 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.19 - Authority to promulgate rules.

508E.19 Authority to promulgate rules.   The commissioner shall have the authority to do all of the following:   1. Adopt rules implementing and administering this chapter.   2. Establish standards for evaluating reasonableness of payments under viatical settlement contracts for persons who are terminally or chronically ill. This authority includes but is not limited to regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a life insurance policy insuring the life of a person who is chronically or terminally ill.   3. Establish appropriate licensing requirements, fees, and standards for continued licensure for viatical settlement providers and brokers.   4. Require a bond or other mechanism for financial accountability for viatical settlement providers and viatical settlement brokers.   5. Adopt rules governing the relationship and responsibilities of both insurers and viatical settlement providers and viatical settlement brokers during the viatication of a life insurance policy or certificate.  2008 Acts, ch 1155, §19
IA Code § 508E.20 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508E - VIATICAL SETTLEMENT CONTRACTS|Section 508E.20 - Public records.

508E.20 Public records.   All information filed with the commissioner pursuant to the requirements of this chapter and its implementing rules shall constitute a public record that is open for public inspection except as otherwise provided in this chapter.  2008 Acts, ch 1123, §18; 2008 Acts, ch 1191, §135
IA Code § 508F.1 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508F - CHARITABLE GIFT ANNUITIES|Section 508F.1 - Definitions.

508F.1 Definitions.   As used in this chapter, unless the context clearly indicates otherwise:   1. “Charitable gift annuity” means a transfer of property by a donor to a charitable organization in return for an annuity payable over one or two lives, if the actuarial value of the annuity is less than the value of the property transferred and the difference in value constitutes a charitable deduction for federal tax purposes.   2. “Charitable organization” means an entity described by any of the following:   a. Section 501(c)(3) of the Internal Revenue Code.   b. Section 170(c) of the Internal Revenue Code.   3. “Commissioner” means the commissioner of insurance.   4. “Internal Revenue Code” means the Internal Revenue Code of 1986 as designated by the Tax Reform Act of 1986, as amended to a date designated by rules adopted by the commissioner.   5. “Property” means anything of value that is subject to ownership, and includes but is not limited to property classified as real, personal, mixed, tangible or intangible, or any present or future interest in such property.   6. “Qualified charitable gift annuity” means a charitable gift annuity that is described by section 501(m)(5) or 514(c)(5) of the Internal Revenue Code, if all of the following apply:   a. The annuity agreement is issued by a charitable organization.   b. On the date that the annuity agreement is issued, the charitable organization has a minimum value of the lesser of three hundred thousand dollars or five times the face amount of total outstanding annuities in unrestricted cash, cash equivalents, or publicly traded securities. However, the total outstanding annuities as provided in this paragraph do not include assets funding the annuity agreement.   c. The charitable organization has been in continuous operation for at least three years or is a successor or affiliate of a charitable organization that has been in continuous operation for at least three years.  2001 Acts, ch 28, §2
IA Code § 508F.2 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508F - CHARITABLE GIFT ANNUITIES|Section 508F.2 - Qualified charitable gift annuity is not insurance.

508F.2 Qualified charitable gift annuity is not insurance.   1. The issuance of a qualified charitable gift annuity does not constitute engaging in the business of insurance in this state.   2. A charitable gift annuity that meets the requirements of a qualified charitable gift annuity shall be deemed to be a qualified charitable gift annuity for purposes of this chapter, regardless of whether the charitable gift annuity was issued prior to July 1, 2001. The issuance of that charitable gift annuity shall not be construed as engaging in the business of insurance in this state.  2001 Acts, ch 28, §3
IA Code § 508F.3 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508F - CHARITABLE GIFT ANNUITIES|Section 508F.3 - Annuity agreement — notice to donor.

508F.3 Annuity agreement — notice to donor.   An agreement for a qualified charitable gift annuity executed by a charitable organization and a donor shall be in writing. The annuity agreement shall include a notice stating that a qualified charitable gift annuity is not insurance under the laws of this state and is not subject to regulation by the commissioner or protected by an insurance guaranty fund or an insurance guaranty association. The notice required by this section shall be in a separate paragraph and in a type size no smaller than that generally used in the annuity agreement.  2001 Acts, ch 28, §4  Referred to in §508F.5
IA Code § 508F.4 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508F - CHARITABLE GIFT ANNUITIES|Section 508F.4 - Notice filed with the commissioner.

508F.4 Notice filed with the commissioner.   1. A charitable organization that issues qualified charitable gift annuities in this state on and after July 1, 2001, shall file a notice with the commissioner in writing not later than the date on which it executes the organization’s first qualified charitable annuity agreement. All of the following shall apply:   a. The notice must be signed by an officer or director of the charitable organization.   b. The notice must identify the name and address of the charitable organization.   c. The notice must include a copy of the determination letter issued by the internal revenue service.   d. The notice must certify that the charitable organization is a bona fide charitable organization and that the annuities issued by the charitable organization are qualified charitable gift annuities.   2. The charitable organization is not required to submit additional information, unless the information is to be used to determine appropriate penalties that may be applicable under section 508F.5.  2001 Acts, ch 28, §5  Referred to in §508F.5
IA Code § 508F.5 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508F - CHARITABLE GIFT ANNUITIES|Section 508F.5 - Failure to comply with requirements.

508F.5 Failure to comply with requirements.   1. The failure of a charitable organization to comply with the requirements of sections 508F.3 and 508F.4 does not prevent a charitable gift annuity that otherwise meets the requirements of this chapter from constituting a qualified charitable gift annuity.   2. The commissioner shall enforce performance of the requirements of sections 508F.3 and 508F.4. The commissioner may do any of the following:   a. Send a letter by restricted certified mail to the charitable organization demanding that the charitable organization comply with this chapter.   b. Establish and impose civil penalties on the charitable organization in an amount not to exceed one thousand dollars for each qualified charitable gift annuity issued until the charitable organization complies with the requirements of this chapter.  2001 Acts, ch 28, §6  Referred to in §508F.4
IA Code § 508F.6 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508F - CHARITABLE GIFT ANNUITIES|Section 508F.6 - Penalties.

508F.6 Penalties.   The commissioner may determine, after hearing, that the issuance of an annuity is not in compliance with this chapter and that the entity issuing the annuity is subject to the provisions and penalties of chapters 507A and 507B.  2001 Acts, ch 28, §7
IA Code § 508F.7 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 508F - CHARITABLE GIFT ANNUITIES|Section 508F.7 - Not unfair or deceptive trade practice.

508F.7 Not unfair or deceptive trade practice.   The issuance of a qualified charitable gift annuity does not constitute a violation of chapter 507B.  2001 Acts, ch 28, §8