reglab/housing_qa huggingface dataset:
IA Code § 518A.29 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.29 - Cancellation or nonrenewal by association — notice.

518A.29 Cancellation or nonrenewal by association — notice.   1. Cancellation by insured. A policy shall be canceled at any time at the request of the insured.   2. Cancellation by association.   a. Except as provided in paragraph “b”, notice of cancellation is not effective unless mailed or delivered by the association to the named insured at least thirty days before the effective date of cancellation.   b. Notice of cancellation resulting from nonpayment of a premium or installment provided for in the policy, or provided for in a note or contract for the payment of such premium or installment, is not effective unless mailed or delivered by the association to the named insured at least ten days prior to the date of cancellation.   c. If a notice of cancellation under paragraph “a” or “b” fails to include the reason for such cancellation, the association, upon receipt of a timely request by the named insured, shall provide the reason for the cancellation in writing.   3. Nonrenewal by association. A notice of intention not to renew is not effective unless mailed or delivered by the insurer to the named insured at least thirty days prior to the expiration date of the policy. If the reason does not accompany the notice of nonrenewal, the association, upon receipt of a timely request by the named insured, shall provide in writing the reason for the nonrenewal.   4. Notice. Service of notice under subsection 2 or 3 may be delivered in person or mailed to the insured at the insured’s post office address as given in or upon the policy, or to such other address as the insured shall have given to the association in writing. A post office department certificate of mailing shall be deemed proof of receipt of such mailing. If in either case the cash payments exceed the amount properly chargeable, the excess shall be refunded to the insured.  [S13, §1759-m; C24, 27, 31, 35, 39, §9054; C46, 50, 54, 58, 62, §518.29; C66, 71, 73, 75, 77, 79, 81, §518A.29]  2000 Acts, ch 1023, §47; 2001 Acts, ch 69, §36; 2003 Acts, ch 91, §48; 2009 Acts, ch 145, §45
IA Code § 518A.35 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.35 - Annual tax.

518A.35 Annual tax.   1. A state mutual insurance association doing business under this chapter shall on or before the first day of March, each year, pay to the director of revenue, or a depository designated by the director, a sum equivalent to the applicable percent of the gross receipts from premiums and fees for business done within the state, including all insurance upon property situated in the state without including or deducting any amounts received or paid for reinsurance. However, a company reinsuring windstorm or hail risks written by county mutual insurance associations is required to pay the applicable percent tax on the gross amount of reinsurance premiums written upon such risks, but after deducting the amount returned upon canceled policies and rejected applications covering property situated within the state, and dividends returned to policyholders on property situated within the state. For purposes of this section, “applicable percent” means the same as specified in section 432.1, subsection 4.   2. Except as provided in subsection 3, the premium tax shall be paid on or before March 1 of the year following the calendar year for which the tax is due. The commissioner of insurance may suspend the certificate of authority of a state mutual insurance association that fails to pay its premium tax on or before the due date.   3. a. Each state mutual insurance association transacting business in this state whose Iowa premium tax liability for the preceding calendar year was one thousand dollars or more shall remit on or before June 1, on a prepayment basis, an amount equal to one-half of the premium tax liability for the preceding calendar year.   b. In addition to the prepayment amount in paragraph “a”, each association shall remit on or before August 15, on a prepayment basis, an additional amount equal to the following percent of the premium tax liability for the preceding calendar year as follows:   (1) For prepayment in the 2003 and 2004 calendar years, eleven percent.   (2) For prepayment in the 2005 calendar year, twenty-six percent.   (3) For prepayment in the 2006 and subsequent calendar years, fifty percent.   c. The sums prepaid by a state mutual insurance association under this subsection shall be allowed as credits against its premium tax liability for the calendar year during which the payments are made. If a prepayment made under this subsection exceeds the annual premium tax liability, the excess shall be allowed as a credit against subsequent prepayment or tax liabilities. The commissioner of insurance may suspend the certificate of authority of an association that fails to make a prepayment on or before the due date.  [C24, 27, 31, 35, 39, §9060; C46, 50, 54, 58, 62, §518.35; C66, 71, 73, 75, 77, 79, 81, §518A.35]  2000 Acts, ch 1023, §48; 2001 Acts, ch 24, §57; 2002 Acts, ch 1050, §46; 2003 Acts, ch 145, §286; 2003 Acts, ch 179, §137, 159; 2004 Acts, ch 1175, §340, 348; 2006 Acts, ch 1117, §93
IA Code § 518A.37 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.37 - Surplus.

518A.37 Surplus.   An association organized under this chapter before July 1, 2009, shall at all times maintain a surplus of not less than one hundred thousand dollars, or one-tenth of one percent of the gross risk in force, whichever is greater. An association organized under this chapter on or after July 1, 2009, shall at all times maintain a surplus of not less than two hundred thousand dollars or one-tenth of one percent of the gross risk in force, whichever is greater.  90 Acts, ch 1234, §71; 99 Acts, ch 165, §20; 2002 Acts, ch 1111, §29; 2009 Acts, ch 145, §46
IA Code § 518A.39 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.39 - “Debt” defined.

518A.39 “Debt” defined.   In ascertaining such corporate indebtedness, a debt shall be deemed to exist, on account of its liabilities on the policy certificates or contracts of insurance issued by it equal to the amount of surplus or other funds accumulated by such corporation for the purpose of fulfilling its policy contracts of insurance and which can be used for no other purpose.  [C24, 27, 31, 35, 39, §9064; C46, 50, 54, 58, 62, §518.39; C66, 71, 73, 75, 77, 79, 81, §518A.39]
IA Code § 518A.40 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.40 - Annual fees — renewals — penalties.

518A.40 Annual fees — renewals — penalties.   1. Such associations shall pay the same fees for annual reports and annual certificates of authority as are required to be paid by domestic companies organized and doing business under chapter 515, which certificates shall expire June 1 of the year following the date of issue.   2. A certificate of authority of an association formed under this chapter shall be renewed annually so long as the organization transacts its business in accordance with all legal requirements. Such an association shall submit annually, on or before March 1, a completed application for renewal of its certificate of authority.   3. The commissioner shall refuse to renew the certificate of authority of a state mutual insurance association that fails to comply with the provisions of this chapter and the association’s right to transact new business in this state shall immediately cease until the association has so complied.   4. An association that fails to timely file the application for renewal required under subsection 2 is in violation of this section and shall pay an administrative penalty of five hundred dollars to the treasurer of state for deposit as provided in section 505.7.  [C73, §1160; C97, §1764; S13, §1759-f; C24, 27, 31, 35, 39, §9065; C46, 50, 54, 58, 62, §518.40; C66, 71, 73, 75, 77, 79, 81, §518A.40]  2006 Acts, ch 1117, §94; 2009 Acts, ch 145, §47; 2009 Acts, ch 181, §85
IA Code § 518A.41 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.41 - Insurance producers to be licensed.

518A.41 Insurance producers to be licensed.   A person or corporation shall not solicit an application for insurance for any association in this state without having procured from the commissioner of insurance a license authorizing the person or corporation to act as an insurance producer.  [C24, 27, 31, 35, 39, §9066; C46, 50, 54, 58, 62, §518.41; C66, 71, 73, 75, 77, 79, 81, §518A.41]  2002 Acts, ch 1119, §73; 2004 Acts, ch 1110, §58
IA Code § 518A.42 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.42 - Limitation on termination of independent insurance producers.

518A.42 Limitation on termination of independent insurance producers.   A state mutual insurance association authorized to do business in this state shall not terminate a contract of an insurance producer who is an independent contractor but who is not an exclusive insurance producer as defined in section 522B.1 without at least one hundred eighty days’ notice, except for loss of license, fraud, nonpayment of association premiums that are due and not in dispute by the producer, or the withdrawal of operations in the state by the association.  2002 Acts, ch 1111, §30
IA Code § 518A.44 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.44 - Reinsurance.

518A.44 Reinsurance.   A state mutual insurance association may reinsure a part or all of its coverages written pursuant to this chapter with an association operating under this chapter, or with any other association or company licensed in this state and authorized to write the kinds of insurance enumerated in section 518A.1.   Reinsurance sufficient to protect the financial stability of the state mutual insurance association is required. In general, reinsurance coverage obtained by an association shall not expose the association to losses from coverages written pursuant to this chapter of more than fifteen percent from surplus in any calendar year. The commissioner of insurance may require additional reinsurance if necessary to protect the policyholders of the association.  95 Acts, ch 185, §35; 99 Acts, ch 165, §21; 2000 Acts, ch 1023, §49; 2002 Acts, ch 1111, §31  Referred to in §521.13
IA Code § 518A.51 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.51 - Loans to officers prohibited.

518A.51 Loans to officers prohibited.   Assets or other funds shall not be loaned directly or indirectly to an officer, director, or employee of the association, or directly or indirectly to a relative of an officer, director, or employee of the association.  95 Acts, ch 185, §36
IA Code § 518A.52 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.52 - Form — approval.

518A.52 Form — approval.   The form of all policies, applications, agreements, and endorsements modifying the provisions of policies, and all permits and riders used in this state, issued or proposed to be issued by a state mutual insurance association doing business in this state under this chapter, shall first be examined and approved by the commissioner of insurance.  95 Acts, ch 185, §37; 2000 Acts, ch 1023, §50  Referred to in §518A.53
IA Code § 518A.53 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.53 - Failure to file copy.

518A.53 Failure to file copy.   Upon the failure of a state mutual insurance association to file a copy of its forms of policies or contracts pursuant to section 518A.52, the commissioner of insurance may suspend its authority to transact business within the state until such forms of policies or contracts have been filed and approved.  95 Acts, ch 185, §38; 2000 Acts, ch 1023, §51
IA Code § 518A.54 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.54 - Disapproval of filings.

518A.54 Disapproval of filings.   If the commissioner finds that a filing does not meet the requirements of this chapter, written notice of disapproval shall be sent to the state mutual insurance association specifying in what respect the filing fails to meet the requirements of this chapter and stating that the filing is not effective. If a filing is disapproved by the commissioner, the association may request a hearing on the disapproval within thirty days. The association bears the burden of proving compliance with the standards established by this chapter.   If, at any time after a form has been approved, the commissioner finds that the form no longer meets the requirements of this chapter, the commissioner may order the discontinuance of the use of the form. The order of discontinuance shall be in writing and may be issued only after a hearing with at least ten days’ prior notice to all state mutual insurance associations affected by the order. The order shall state the grounds upon which the order is based and when the order of discontinuance is effective.  95 Acts, ch 185, §39; 2000 Acts, ch 1023, §52
IA Code § 518A.55 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.55 - Certificate suspension.

518A.55 Certificate suspension.   The commissioner of insurance may suspend a state mutual insurance association’s certificate of authority to do business if the association neglects or fails to comply with this chapter.  95 Acts, ch 185, §40; 2000 Acts, ch 1023, §53
IA Code § 518A.56 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.56 - Rulemaking authority.

518A.56 Rulemaking authority.   The commissioner may adopt rules, pursuant to chapter 17A, as necessary for the administration of this chapter.  2009 Acts, ch 145, §48
IA Code § 518A.57 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518A - STATE MUTUAL INSURANCE ASSOCIATIONS|Section 518A.57 - Powers of members.

518A.57 Powers of members.   Members of the association shall have the power to make or amend articles of incorporation at any membership meeting, provided that notice of such proposed addition or amendment has been mailed to each member of the association at least ten days in advance of the meeting in which such proposed action is to be considered, and provided that no such addition or amendment shall become effective until approved by the commissioner of insurance and recorded in the office of the secretary of state.  2009 Acts, ch 145, §49
IA Code § 518B.1 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518B - RIOT REINSURANCE PROGRAM|Section 518B.1 - Definitions.

518B.1 Definitions.   As used in this chapter, unless the context requires otherwise:   1. “The secretary” means the secretary of the United States department of housing and urban development.   2. “Farm property” means the residence, personal effects, other farm buildings and other personal property used in conjunction with a farming operation.   3. “The Act” means Section 1223 of the Housing and Urban Development Act of 1968, Pub. L. No. 90-448, 90th Congress approved August 1, 1968.   4. “The fund” or “fund” means the federal riot reinsurance reimbursement fund referred to in this chapter.   5. “Commissioner” means the commissioner of insurance.  [C71, 73, 75, 77, 79, 81, §518B.1]  2006 Acts, ch 1010, §143
IA Code § 518B.2 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518B - RIOT REINSURANCE PROGRAM|Section 518B.2 - Reimbursement fund created.

518B.2 Reimbursement fund created.   There is hereby created the federal riot reinsurance reimbursement fund in the office of the treasurer of state which shall be operated under the joint control of the director of the department of administrative services and the commissioner. The fund shall consist of all payments made by insurers in accordance with the provisions of this chapter. The director of the department of administrative services shall have the same power to enforce the collection of the assessments provided hereunder as any other obligation due the state.  [C71, 73, 75, 77, 79, 81, §518B.2]  2003 Acts, ch 145, §286
IA Code § 518B.3 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518B - RIOT REINSURANCE PROGRAM|Section 518B.3 - Secretary reimbursed.

518B.3 Secretary reimbursed.   The commissioner shall reimburse the secretary in an amount up to five percent of the aggregate property, except farm property insurance premiums earned in this state during the calendar year immediately preceding the calendar year with respect to which the secretary paid losses on lines of insurance reinsured by the secretary in this state during that year and for which the secretary claims reimbursement from the fund in accordance with the Act.  [C71, 73, 75, 77, 79, 81, §518B.3]
IA Code § 518B.4 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518B - RIOT REINSURANCE PROGRAM|Section 518B.4 - Insurers assessed.

518B.4 Insurers assessed.   Whenever the secretary shall, in accordance with the Act, present to the state a request for reimbursement under the Act, the commissioner shall immediately assess all insurers which, during the calendar year with respect to which reimbursement is requested by the secretary, were licensed to write and engaged in writing property insurance business, including the property insurance components of multiperil policies on a direct basis, in this state. The amount of each such insurer’s assessment shall be calculated by multiplying the amount of the reimbursement requested by the secretary by a fraction the numerator of which is the insurer’s premium actually written in this state in that calendar year on habitational and commercial property, except farm property, risks and the denominator of which is the aggregate premiums written by all licensed insurers on such property risks. In no event shall any insurer’s assessment be less than one hundred dollars.  [C71, 73, 75, 77, 79, 81, §518B.4]  Referred to in §518B.6, 518B.7
IA Code § 518B.5 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518B - RIOT REINSURANCE PROGRAM|Section 518B.5 - Warrants issued — overage fund.

518B.5 Warrants issued — overage fund.   The secretary shall be reimbursed up to the amount requested by warrants issued against the fund by the director of the department of administrative services upon vouchers approved by the director of the department of administrative services and the commissioner. If the assessment produces a fund greater than the amount requested by the secretary, the overage shall be placed in a special fund in the office of the treasurer of state under the control of the commissioner and the director of the department of administrative services and shall be applied to any subsequent requests by the secretary for reimbursement of losses paid on lines of insurance reinsured by the secretary in this state in accordance with the Act.   In the event that the provisions of this chapter and the assessments made thereunder are no longer needed in order to effectuate the program for which they were intended, the amounts remaining in the special fund shall inure to the general fund of the state.  [C71, 73, 75, 77, 79, 81, §518B.5]  2003 Acts, ch 145, §286
IA Code § 518B.6 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518B - RIOT REINSURANCE PROGRAM|Section 518B.6 - Insolvent insurers.

518B.6 Insolvent insurers.   In the event any insurer fails, by reason of insolvency, to pay any assessment, the commissioner shall cause the reimbursement ratios computed under section 518B.4 to be immediately recalculated excluding therefrom the insolvent insurer, so that its assessment is in effect assumed and redistributed among the remaining insurers.  [C71, 73, 75, 77, 79, 81, §518B.6]
IA Code § 518B.7 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518B - RIOT REINSURANCE PROGRAM|Section 518B.7 - Recovery factor included.

518B.7 Recovery factor included.   Insurers shall include in filings submitted pursuant to chapter 515A, a factor, applicable to the line or lines of insurance on which the assessment is levied, sufficient to recover within not more than three years after the date of assessment any amounts so assessed under section 518B.4 during the preceding calendar year together with the amount of costs and expenses reasonably attributable to such assessment and recovery thereof.  [C71, 73, 75, 77, 79, 81, §518B.7]
IA Code § 518C.1 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518C - COUNTY AND STATE MUTUAL INSURANCE GUARANTY ASSOCIATION|Section 518C.1 - Title.

518C.1 Title.   This chapter shall be known and may be cited as the “Iowa County and State Mutual Insurance Guaranty Association Act”.  2000 Acts, ch 1035, §1
IA Code § 518C.2 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518C - COUNTY AND STATE MUTUAL INSURANCE GUARANTY ASSOCIATION|Section 518C.2 - Scope.

518C.2 Scope.   This chapter applies to direct insurance authorized to be written by an insurer licensed to transact insurance business in this state under chapter 518 or 518A.  2000 Acts, ch 1035, §2
IA Code § 518C.4 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518C - COUNTY AND STATE MUTUAL INSURANCE GUARANTY ASSOCIATION|Section 518C.4 - Association established.

518C.4 Association established.   An Iowa county and state mutual insurance guaranty association is established as a nonprofit unincorporated legal entity. An insurer shall be a member of the association as a condition of the insurer’s authority to transact insurance business in this state. The association shall perform its functions under a plan of operation established and approved pursuant to section 518C.7 and shall exercise its powers through a board of directors established under section 518C.5. Except as otherwise provided in such plan of operation, an annual or special meeting of members of the association may be held on call as directed by the association’s board of directors or by the commissioner of insurance. Written notice shall be given not less than ten days prior to the meeting by ordinary mail to each member at the member’s principal office as shown by the records in the commissioner’s office. The notice shall state the time and place, and in the case of a special meeting, the purpose of the meeting. Members may vote in person and ten members present in person shall constitute a quorum for the transaction of any business.  2000 Acts, ch 1035, §4  Referred to in §518C.3
IA Code § 518C.5 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 518C - COUNTY AND STATE MUTUAL INSURANCE GUARANTY ASSOCIATION|Section 518C.5 - Board of directors.

518C.5 Board of directors.   1. The board of directors of the association shall consist of the officers and directors of the mutual insurance association of Iowa or its successor association, but only if such officers and directors are employed by a corporation organized as a county mutual insurance association pursuant to chapter 518 or a state mutual insurance association pursuant to chapter 518A.   2. An officer and director of the mutual insurance association of Iowa shall serve in the same capacity on the association board as the officer or director serves the mutual insurance association of Iowa or its successor association, but only if the officer and director is employed by a corporation organized as a county mutual insurance association pursuant to chapter 518 or a state mutual insurance association pursuant to chapter 518A.  2000 Acts, ch 1035, §5; 2011 Acts, ch 70, §36  Referred to in §518C.4