reglab/statecodes huggingface dataset:
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 5 - Regulation of Insurers-general Provisions › Rule 191-5.52 - Filing of Reports

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Every
				reporting financial institution shall file the reports required by rule
				191-5.53(535A) with the director of the Iowa housing finance authority and with
				the commissioner each year by January 15, and shall maintain a copy of each
				report at the office where its principal financial records are maintained for a
				period of five years after it is filed.
(2) Reporting financial institutions shall
				file a report which complies with the Federal Home Mortgage Act of 1975,
				12 U.S.C.
				2801 to
				2809,
				and regulations promulgated under that Act. Reporting financial institutions
				shall also report additional information required by rule
				191-5.54 (535A).
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 5 - Regulation of Insurers-general Provisions › Rule 191-5.53 - Form and Content of Reports

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Reports
				required by rule
				191-553.
				(535A) shall be filed on Disclosure Form A or a form similar thereto.
(2) Financial institutions may submit
				computer printouts in lieu of the specimen form if the computer printouts
				contain the same information in the same sequence as on the specimen
				form.
(3) Every report filed shall
				disclose the following information:
a. Name
				and address of the reporting financial institution.
b. Name, address and telephone number of the
				officer designated by the reporting financial institution to file the
				report.
c. Reporting
				period.
d. The principal amount of
				a loan shall be disclosed with respect to construction loan applications, home
				improvement loan applications, total mortgage loan applications, and
				residential mortgage loan applications, and the requested amount shall be
				disclosed with respect to construction loan applications not approved, home
				improvement loan applications not approved, total mortgage loan applications
				not approved and residential mortgage loan applications not approved. The
				principal and requested amount disclosures required above shall be reported
				separately for each census tract or zip code area.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 5 - Regulation of Insurers-general Provisions › Rule 191-5.54 - Additional Information Required

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Reporting financial institutions shall
				file with the commissioner on or before March 15 of each year Disclosure Form B
				or a form similar thereto the following additional information with respect to
				loans for the purchase of residential property made during the preceding year:
a. The number of loans approved at each of
				the following percentages of the appraised value of the property used as
				security for the loan:
(1) Less than 60
				percent
(2) 60 percent to 69
				percent
(3) 70 percent to 79
				percent
(4) 80 percent to 89
				percent
(5) 90 percent or
				more
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 5 - Regulation of Insurers-general Provisions › Rule 191-5.55 - Written Complaints

Current through Register Vol. 47, No. 3, July 24, 2024
Any person who has reason to believe that a financial
				  institution has failed to comply with the provisions of Iowa Code chapter 535A
				  or these rules may file a written complaint with the division or bring an
				  action in the district court in accordance with Iowa Code chapter
				  535A.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 6 - Organization of Domestic Insurance Companies › Rule 191-6.1 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
"Promoters"
shall mean any incorporator, organizer, founder or
				other person or corporation who, acting alone or in concert with other persons,
				is initiating or directing, or has within one year initiated or directed, the
				organization of a new insurance company.
(2)
"Public moneys"
shall
				mean the price paid by persons other than promoters for securities.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 6 - Organization of Domestic Insurance Companies › Rule 191-6.2 - Promoters Contributions

Current through Register Vol. 47, No. 3, July 24, 2024
Promoters shall invest of their own funds at least 20 percent
				  of the proposed issue in cash. If something other than cash is contemplated to
				  meet the requirements of this rule, it shall be valued by the commissioner of
				  insurance in accordance with the provisions of Iowa Code section
				  4927..
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 6 - Organization of Domestic Insurance Companies › Rule 191-6.3 - Escrow

Current through Register Vol. 47, No. 3, July 24, 2024
All public moneys shall be escrowed 100 percent until the
				  issue is sold unless sooner released by written order of the commissioner of
				  insurance; in the event the issue is not completely sold, all expenses incurred
				  in corporate organization, sale of securities and cost of liquidation shall be
				  paid from funds acquired from promoters.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 6 - Organization of Domestic Insurance Companies › Rule 191-6.4 - Alienation

Current through Register Vol. 47, No. 3, July 24, 2024
In the event of a public offering, no securities held by the
				  promoters shall, for a three-year period from the date of acquisition, be
				  alienated or hypothecated (except by operation of the law) unless the operation
				  of the insurance company produces earned surplus for two consecutive
				  years.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 6 - Organization of Domestic Insurance Companies › Rule 191-6.7 - Qualifications of Management

Current through Register Vol. 47, No. 3, July 24, 2024
The general plan of organization as contemplated in Iowa Code
				  section
				  5063.
				  shall include proposed management personnel with biographical sketches,
				  including state of residence and complete insurance experience of
				  each.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 6 - Organization of Domestic Insurance Companies › Rule 191-6.8 - Chief Executive

Current through Register Vol. 47, No. 3, July 24, 2024
The chief executive officer of a newly organized insurance
				  company shall be a bona fide resident of Iowa and unless removed for cause and
				  while acting in this capacity shall devote the entire time to such duties
				  unless this requirement is specifically waived by written order of the
				  commissioner of insurance. For purposes of this rule, a newly organized
				  insurance company shall be deemed to be a company in existence for three years
				  or less.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.1 - Application of Regulation

Current through Register Vol. 47, No. 3, July 24, 2024
This regulation is applicable to all domestic stock insurers
				  having 100 or more stockholders; provided, however, that this regulation shall
				  not apply to any insurer if 95 percent or more of its stock is owned or
				  controlled by a parent or an affiliated insurer and the remaining shares are
				  held by less than 500 stockholders. A domestic stock insurer which files with
				  the Securities and Exchange Commission forms of proxies, consents and
				  authorizations complying with the requirements of the Securities and Exchange
				  Act of 1934 and the Securities and Exchange Acts Amendments of 1964 and
				  regulation X-14 of the Securities and Exchange Commission promulgated
				  thereunder shall be exempt from the provisions of this
				  regulation.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.2 - Proxies, Consents and Authorizations

Current through Register Vol. 47, No. 3, July 24, 2024
No domestic stock insurer, or any director, officer or
				  employee of such insurer subject to 7.1(523) hereof, or any other person, shall
				  solicit, or permit the use of the person's name to solicit, by mail or
				  otherwise, any proxy, consent or authorization in respect of any stock of such
				  insurer in contravention of this regulation and Schedules A and B hereto
				  annexed and hereby made a part of this regulation.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.3 - Disclosure of Equivalent Information

Current through Register Vol. 47, No. 3, July 24, 2024
Unless proxies, consents or authorizations in respect of a
				  stock of a domestic insurer subject to 7.1(523) hereof are solicited by or on
				  behalf of the management of such insurer from the holders of record of stock of
				  such insurer in accordance with this regulation and the schedules thereunder
				  prior to any annual or other meeting, such insurer shall, in accordance with
				  this regulation and such further regulations as the commissioner may adopt,
				  file with the commissioner, and transmit to all stockholders of record
				  information substantially equivalent to the information which would be required
				  to be transmitted if a solicitation were made.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.4 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The definitions
				and instructions set out in Schedule SIS, as promulgated by the National
				Association of Insurance Commissioners, shall be applicable for purposes of
				this regulation.
(2) The terms
				"solicit" and "solicitation" for purposes of this regulation shall include:
a. Any request for proxy, whether or not
				accompanied by or included in a form of proxy; or
b. Any request to execute or not to execute,
				or to revoke, a proxy; or
c. The
				furnishing of a proxy or other communication to stockholders under
				circumstances reasonably calculated to result in the procurement, withholding
				or revocation of a proxy.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.5 - Information to Be Furnished to Stockholders

Current through Register Vol. 47, No. 3, July 24, 2024
(1) No solicitation subject to this
				regulation shall be made unless each person solicited is concurrently furnished
				or has previously been furnished with a written proxy statement containing the
				information specified in Schedule A.
(2) If the solicitation is made on behalf of
				the management of the insurer and relates to an annual meeting of stockholders
				at which directors are to be elected, each proxy statement furnished pursuant
				to 7.5(1) hereof shall be accompanied or preceded by an annual report (in
				preliminary or final form) to such stockholders containing such financial
				statements for the last fiscal year as are referred to in Schedule SIS under
				the heading "Financial Reporting to Stockholders." Subject to the foregoing
				requirements with respect to financial statements, the annual report to
				stockholders may be in any form deemed suitable by the management.
(3) Two copies of each report sent to the
				stockholder pursuant to this rule shall be mailed to the commissioner not later
				than the date on which such report is first sent or given to stockholders or
				the date on which preliminary copies of solicitation material are filed with
				the commissioner pursuant to 7.7(1), whichever date is later
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.6 - Requirements as to Proxy

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The form of
				proxy
(a)
shall indicate in bold-face type whether or not the
				proxy is solicited on behalf of the management,
(b)
shall
				provide a specifically designated blank space for dating the proxy,
				and
(c)
shall identify clearly and impartially each matter or
				group of related matters intended to be acted upon, whether proposed by the
				management, or stockholders. No reference need be made to proposals as to which
				discretionary authority is conferred pursuant to 7.6(3) hereof
(2) Means shall be provided in the proxy for
				the person solicited to specify by ballot a choice between approval or
				disapproval of each matter or group of related matters referred to therein,
				other than elections to office. A proxy may confer discretionary authority with
				respect to matters as to which a choice is not so specified if the form of
				proxy states in bold-face type how it is intended to vote the shares or
				authorization represented by the proxy in each such case.
(3) A proxy may confer discretionary
				authority with respect to other matters which may come before the meeting,
				provided the persons on whose behalf the solicitation is made are not aware a
				reasonable time prior to the time the solicitation is made that any other
				matters are to be presented for action at the meeting and provided further that
				a specific statement to that effect is made in the proxy statement or in the
				form of proxy.
(4) No proxy shall
				confer authority
(a)
to vote for the election of any person to
				any office for which a bona fide nominee is not named in the proxy statement,
				or
(b)
to vote at any annual meeting other than the next annual
				meeting (or any adjournment thereof) to be held after the date on which the
				proxy statement and form of proxy are first sent or given to
				stockholders.
(5) The proxy
				statement or form of proxy shall provide, subject to reasonable specified
				conditions, that the proxy will be voted and that where the person solicited
				specifies by means of ballot provided pursuant to 7.6(2) hereof a choice with
				respect to any matter to be acted upon, the vote will be in accordance with the
				specifications so made.
(6) The
				information included in the proxy statement shall be clearly presented and the
				statements made shall be divided into groups according to subject matter, with
				appropriate headings. All printed proxy statements shall be clearly and legibly
				presented.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.7 - Material Required to Be Filed

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Two
				preliminary copies of the proxy statement and form of proxy and any other
				soliciting material to be furnished to stockholders concurrently therewith
				shall be filed with the commissioner at least ten days prior to the date
				definitive copies of such material are first sent or given to stockholders, or
				such shorter period prior to that date as the commissioner may authorize upon a
				showing of good cause therefor
(2)
				Two preliminary copies of any additional soliciting material relating to the
				same meeting or subject matter to be furnished to stockholders subsequent to
				the proxy statements shall be filed with the commissioner at least two days
				(exclusive of Saturdays, Sundays or holidays) prior to the date copies of this
				material are first sent or given to stockholders or a shorter period prior to
				such date as the commissioner may authorize upon a showing of good cause
				therefor
(3) Two definitive copies
				of the proxy statement, form of proxy and all other soliciting material, in the
				form in which this material is furnished to stockholders, shall be filed with,
				or mailed for filing to, the commissioner not later than the date such material
				is first sent or given to the stockholders.
(4) Where any proxy statement, form of proxy
				or other material filed pursuant to these rules is amended or revised, two of
				the copies shall be marked to clearly show such changes.
(5) Copies of replies to inquiries from
				stockholders requesting further information and copies of communications which
				do no more than request that forms of proxy theretofore solicited be signed and
				returned need not be filed pursuant to this rule.
(6) Notwithstanding the provisions of 7.7(1)
				and 7.7(2) hereof and of 7.10(5), copies of soliciting material in the form of
				speeches, press releases and radio or television scripts may, but need not, be
				filed with the commissioner prior to use or publication. Definitive copies,
				however, shall be filed with or mailed for filing to the commissioner as
				required by 7.7(3) hereof not later than the date such material is used or
				published. The provisions of 7.7(1) and 7.7(2) hereof and 7.10(5) shall apply,
				however, to any reprints or reproductions of all or any part of such
				material.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.8 - False or Misleading Statements

Current through Register Vol. 47, No. 3, July 24, 2024
No solicitation subject to this regulation shall be made by
				  means of any proxy statement, form of proxy, notice of meeting, or other
				  communication, written or oral, containing any statement which at the time and
				  in the light of the circumstances under which it is made, is false or
				  misleading with respect to any material fact, or which omits to state any
				  material fact necessary in order to make the statements therein not false or
				  misleading or necessary to correct any statement in any earlier communication
				  with respect to the solicitation of a proxy for the same meeting or subject
				  matter which has become false or misleading.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.9 - Prohibition of Certain Solicitations

Current through Register Vol. 47, No. 3, July 24, 2024
No person making a solicitation which is subject to this
				  regulation shall solicit any undated or postdated proxy or any proxy which
				  provides that it shall be deemed to be dated as of any date subsequent to the
				  date on which it is signed by the stockholder
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.10 - Special Provisions Applicable to Election Contests

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Applicability.
This rule
				shall apply to any solicitation subject to this regulation by any person or
				group for the purpose of opposing a solicitation subject to this regulation by
				any other person or group with respect to the election or removal of directors
				at any annual or special meeting of stockholders.
(2)
Participant or participant in a
				solicitation.
a. For purposes of
				this rule the term "participant" and "participant in a solicitation" include:
(1) The insurer;
(2) any director of the insurer, and any
				nominee for whose election as a director proxies are solicited;
(3) any other person, acting alone or with
				one or more other persons, committees or groups, in organizing, directing or
				financing the solicitation.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.12 - Conditions-revocation

Current through Register Vol. 47, No. 3, July 24, 2024
No proxy shall be valid unless signed and executed within two
				  months prior to such meeting or election for which said proxy was given, and
				  such proxy shall be limited to 30 days subsequent to the date of such meeting
				  or election, and may be revoked at any time by the policyholder who executed
				  the said proxy.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.13 - Filing Proxy

Current through Register Vol. 47, No. 3, July 24, 2024
All proxies shall be filed with the company at least one day
				  prior to any meeting or election at which they are to be
				  used.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.14 - Solicitation by Agents-use of Funds

Current through Register Vol. 47, No. 3, July 24, 2024
Soliciting of proxies by an agent of a company either for
				  personal use, or for the use of officers of the company or for any other person
				  or persons, is forbidden. Company funds shall not be expended in procuring
				  proxies.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 7 - Domestic Stock Insurers Proxies › Rule 191-7.20 - Statement of Changes of Beneficial Ownership of Securities

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Directors, executive officers,
				and principal stockholders of domestic insurers required to file.
Every person who is directly or indirectly the beneficial owner of more than 10
				percent of any class of any equity security of an insurer exempt from the
				filing requirements of Section 16 of the Securities Exchange Act of 1934
				pursuant to Section 12(g)(2)(G) of the Act, or who is a director or an
				executive officer of the issuer of such security, shall file the statements
				required by this rule with the commissioner
(2)
lime of filing.
a. An initial statement of beneficial
				ownership form shall be filed:
(1)With in ten
				days after a person becomes such beneficial owner, director, or executive
				officer;
(2)With in ten days after
				the insurer would become subject to filing requirements under Section 16 of the
				Securities Exchange Act of 1934 but for the exemptions set forth in Section
				12(g)(2)(G) of the Act; or
(3)With
				in ten days after the effective date of an insurer's filing of a registration
				statement registering a class of equity securities on a national securities
				exchange.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 8 - Benevolent Associations › Rule 191-8.3 - Organization

Current through Register Vol. 47, No. 3, July 24, 2024
Before any new benevolent association shall form or operate
				  in this state, it shall first file with the commissioner for examination and
				  approval one copy of its general plan of organization and operation, an
				  original and two copies of its articles of incorporation, an original and one
				  copy of any bylaws, and two copies of its certificate of membership with
				  application blank. All fees for examination and filing in the office of the
				  commissioner and the secretary of state as prescribed by law must accompany the
				  association's submission.
(1) The plan
				of organization and operation must set forth in detail any and all fees, dues
				and assessments to be made against the membership, the intended size and
				grouping of the membership, the method of member enrollment and procedure for
				replacement of deceased or left members, the establishment of any reserves or
				surplus funds, and the intended name and business address of the association.
				The plan shall also contain a biographical sketch of all organizers and
				officers and comply with the laws and regulations governing benevolent
				associations.
(2) If an association
				is organized or becomes organized under Iowa Code chapter 504A for the purpose
				of selling or offering for sale stock to the public of this state such offer
				must be fully disclosed in the plan of organization and if such offer is exempt
				from registration the specific exemption must be set forth in the
				plan.
(3) Reserved.
(4) Except where a public stock offer is
				made, the plan of operation for associations existing prior to the adoption of
				this regulation may be contained in its bylaws, however, such plan shall be in
				accordance with the laws and regulations pertaining to such
				associations.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 8 - Benevolent Associations › Rule 191-8.4 - Membership

Current through Register Vol. 47, No. 3, July 24, 2024
Each association shall have one or more groups or units
				  consisting of not more than 1250 members per group or unit who may make
				  voluntary contributions to the association for distribution to the beneficiary
				  of a deceased member or to the members as contributions toward expenses
				  incurred by accident or sickness.
(1)
				If membership in the association is conditioned upon the payment of benefit
				assessments levied against the members, such loss or cancellation of membership
				shall take place only if a member, after being notified by mail of such
				assessment, has failed to remit a contribution within 30 days from the date of
				mailing of the benefit assessment notice. The association may thereafter serve
				notice of cancellation of membership which shall provide that if all
				delinquencies are not paid within 10 days after mailing of such notice, all
				benefits of membership shall be fully terminated.
(2) Rescinded, effective April 20,
				1983.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 8 - Benevolent Associations › Rule 191-8.5 - Fees, Dues and Assessments

Current through Register Vol. 47, No. 3, July 24, 2024
Benevolent associations may make charges against the
				  membership in the form of benefit assessments, enrollment fees or dues and
				  operational expense fees.
(1) An
				enrollment fee or dues to cover initial expenses may be charged but such fees
				or dues shall not exceed $10 per enrollee membership. If two or more enrollees
				are in one family, the enrollment fee shall not exceed $8 for each person,
				provided that the family unit enrolls at the same time.
(2) A benefit assessment may be made against
				the group or unit membership to cover each valid claim presented by a member or
				the named beneficiary of a deceased member of that unit or group. The benefit
				portion of the assessment shall not exceed the maximum benefit payable as
				stated upon the certificate of membership by more than 20 percent of the
				maximum benefit payable to the claiming member or beneficiary of a
				member
(3) In addition to the
				benefit contribution an expense fee may be added as a separate item to each
				assessment or as a separate periodical assessment, provided the expense portion
				of any assessment represents actual costs directly related to the collection
				and payment of the certificate benefit, and further provided that said fee is
				identified as an expense charge. Reasonable directors' fees and salaries of
				officers shall be considered as expenses to the association.
(4) Any assessment levied against the members
				of a group or unit, other than any reasonable corporate dividends or undivided
				profits as declared by the board of directors, shall be considered as trust
				funds belonging to the members of the group and shall not become the property
				of the association itself, except for that portion of the assessment or
				contribution added as a separate item for expenses in the collection and
				distribution of such fund.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 8 - Benevolent Associations › Rule 191-8.6 - Reserve Fund

Current through Register Vol. 47, No. 3, July 24, 2024
Any moneys remaining after the payment of a benefit by the
				  association, except the expense contribution and any reasonable corporate
				  dividends or undivided profits, shall be maintained as a reserve fund to be
				  used only for the benefit of the members of the specific group or unit from
				  which it was collected. Such reserve funds shall be used periodically as
				  determined by the board of directors to pay benefits to a claiming member or
				  the beneficiary of a member without making an assessment against the membership
				  of the group or unit.
Any association in existence before January 1, 1967, having
				  presently in use an equally equitable plan for the periodic distribution of the
				  reserve funds, can continue to use such plan provided it is fully disclosed in
				  writing to the commissioner and has been approved by the commissioner for
				  use.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 8 - Benevolent Associations › Rule 191-8.7 - Certificates

Current through Register Vol. 47, No. 3, July 24, 2024
In addition to the requirements of Iowa Code section
				  512A7.
				  as they concern the membership certificates, said certificates shall also
				  contain sufficient information to inform a member or a member's beneficiary on
				  the proper procedure in the filing of a claim, including any limitations or
				  exclusions affecting the claim.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 8 - Benevolent Associations › Rule 191-8.8 - Beneficiaries

Current through Register Vol. 47, No. 3, July 24, 2024
In the application for membership, the applicant may
				  designate a beneficiary or beneficiaries. If no beneficiary is named or the
				  named beneficiary or beneficiaries do not survive the member, the estate shall
				  become the beneficiary.
Each association shall have forms to provide for the change
				  of beneficiary in the event a member wishes to change or add a
				  beneficiary.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 8 - Benevolent Associations › Rule 191-8.9 - Mergers

Current through Register Vol. 47, No. 3, July 24, 2024
Should the membership of a group or unit fall below 50
				  percent of its established size as set forth in the plan of operation, such
				  group or unit shall be merged into another existing group in the association
				  and any funds of the depleted membership group shall become the reserve funds
				  of the group into which it is merged.
If the entire membership of an association falls below 60
				  percent of its established size as described in its plan of operation, such
				  association must make a bona fide attempt to merge with another such
				  association to protect the interests of the remaining members. Any reserve
				  funds of the merging association shall become the reserve funds of the
				  surviving merged association. If merger attempts are unsuccessful, the
				  association must present a plan of reorganization to the commissioner for
				  approval.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 8 - Benevolent Associations › Rule 191-8.10 - Directors and Officers

Current through Register Vol. 47, No. 3, July 24, 2024
Each benevolent association shall have at least three persons
				  on its board of directors at all times and shall have more than one person act
				  as corporate officer
Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 8 - Benevolent Associations › Rule 191-8.12 - Bookkeeping and Accounts

Current through Register Vol. 47, No. 3, July 24, 2024
Each benevolent association shall maintain a set of books and
				  records in accordance with normally accepted accounting procedures. Such books
				  and records shall be used to supply the information requested in the annual
				  statement provided each year by the insurance commissioner.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.1 - Purpose and Authority

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The purpose of
				these rules is to set out the requirements, procedures and fees relating to the
				qualification, licensure and appointment of insurance producers.
(2) These rules are authorized by Iowa Code
				section
				505.8
				and are intended to implement Iowa Code chapters 252J, 272D, 515K and
				522B.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.3 - Requirement to Hold a License

Current through Register Vol. 47, No. 3, July 24, 2024
(1) No person may
				sell, solicit or negotiate insurance in Iowa until that person has been issued
				an Iowa producer license.
(2) A
				person offering to the public, for a fee or commission, to engage in the
				business of offering any advice, counsel, opinion or service with respect to
				the benefits, advantages or disadvantages promised under any policy of
				insurance must be licensed as a producer.
(3) A person shall not advise an Iowa
				resident to cancel, not renew, or otherwise change an existing insurance policy
				unless that person holds an Iowa producer license regarding the line of
				insurance for which the advice is given. This subrule does not apply to a
				licensed attorney or certified public accountant who does not sell or solicit
				insurance.
(4) The license itself
				does not provide the producer with any authority to represent or commit an
				insurer.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.4 - Licensing of Resident Producers

Current through Register Vol. 47, No. 3, July 24, 2024
(1) A person whose
				home state is Iowa and who desires to be licensed as a producer must satisfy
				the following requirements:
a. Be at least 18
				years of age;
b. Have not committed
				any act that is grounds for denial under subrule 10.20(4);
c. Submit a completed uniform
				application;
d. Pass an examination
				in the line of authority sought;
e.
				Pay the appropriate producer license fee; and
f. Submit to a criminal history check
				pursuant to Iowa Code section
				522B.5.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.5 - Licensing of Nonresident Producers

Current through Register Vol. 47, No. 3, July 24, 2024
(1) A producer for
				whom Iowa is not the home state who desires to sell, solicit or negotiate
				insurance in Iowa must satisfy the following requirements to obtain an Iowa
				nonresident producer license:
a. Be licensed
				and in good standing in the home state;
b. Submit a proper request for licensure to
				the division through the NIPR Gateway;
c. Pay the appropriate fee; and
d. Submit to a criminal history check
				pursuant to Iowa Code section
				522B.5A if
				a state and national criminal history check has not already been
				completed.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.6 - Issuance of License

Current through Register Vol. 47, No. 3, July 24, 2024
(1) In order to be
				issued a producer license, a person must meet the requirements of Iowa Code
				sections
				522B.4
				and
				522B.5,
				or section
				522B.7, and
				rule 191-10.5 (522B), unless
				otherwise denied licensure pursuant to Iowa Code section
				522B.11
				or rule 191-10.20(522B). The initial term of a producer license is three years
				and ends after the last day of the applicant's birth month of the year the
				license was issued, unless revoked or suspended. A license may be continually
				renewed pursuant to rule
				191-10.8 (522B) as long as the
				proper fees are paid and home state continuing education requirements are met.
				A renewal term is three years. If not renewed, a producer license automatically
				terminates on the last day of the month of the initial or renewal
				term.
(2) An individual producer
				whose license has expired may seek reinstatement or reissuance as set forth in
				rule 191-10.9(522B) or
				191-10.10 (522B), as
				applicable.
(3) The license shall
				contain the producer's name, address, license number, date of issuance, date of
				expiration, the line(s) of authority held, and any other information the
				division deems necessary. The license number shall be the same as the
				producer's National Insurance Producer Registry (NIPR) national producer number
				(NPN).
(4) If the division issues
				or renews a producer license and subsequently determines that payment for the
				license or renewal was returned to the division by a bank without payment, or
				that the credit card company does not approve, cancels, or refuses amounts
				charged to the credit card, the license must be immediately suspended until the
				payments are made and any fees or penalties charged by the division are paid,
				at which time the license may be reinstated. The individual may request a
				hearing within 30 days of receipt of the division's notice that the license was
				suspended.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.7 - License Lines of Authority

Current through Register Vol. 47, No. 3, July 24, 2024
In addition to the lines of authority listed in Iowa Code
				  subsection
				  522B.6(2),
				  the following lines of authority also are available for issuance in Iowa: crop,
				  surety, and reciprocal (any other line of insurance issued in another state and
				  for which Iowa grants authority to sell, solicit or negotiate in this
				  state).
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.8 - License Renewal

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Upon request by
				a licensed producer, the division must electronically transmit a producer
				renewal notice to the producer's last-known electronic mail address as it
				appears in division records. If the division has received notification that the
				electronic address of record is no longer valid, no renewal notice will be
				transmitted.
(2) A producer must
				apply for license renewal during the 90 days prior to the expiration date of
				the license. Failure to apply to renew a license and pay appropriate fees prior
				to the expiration date of the license will result in expiration of the
				license.
(3) A producer may submit
				an electronic mail address to the division as directed by the
				division.
(4) Resident producer
				licenses may be renewed electronically through the NIPR Gateway at
www.NIPR.com
.
(5) Nonresident producer licenses may only be
				renewed through the NIPR Gateway, or as otherwise directed by the
				division.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.9 - License Reinstatement

Current through Register Vol. 47, No. 3, July 24, 2024
(1) A resident
				producer may reinstate an expired license up to 12 months after the license
				expiration date by proving that during the applicable continuing education (CE)
				term the producer met the CE requirements found in 191-Chapter 11 and by paying
				a reinstatement fee and a license renewal fee. A resident producer who fails to
				apply for license reinstatement within 12 months of the license expiration date
				must apply for a new license.
(2) A
				nonresident producer may reinstate an expired license up to 12 months after the
				expiration date by submitting a request through the NIPR Gateway and by paying
				a reinstatement fee and a license renewal fee. A nonresident producer who fails
				to apply for a license reinstatement within 12 months of the license expiration
				date or fails to update the nonresident producer's address pursuant to subrule
				10.12(3) must apply for license reissuance.
(3) A producer who has surrendered a license
				that was not in connection with a disciplinary matter and stated an intent to
				exit the insurance business may file a request to reactivate the license. The
				request must be received at the division within 90 days of the date the license
				was placed on inactive status. The request will be granted if the former
				producer is otherwise eligible to receive the license. If the request is not
				received within 90 days, the producer must apply for a new license.
(4) A producer whose license was suspended,
				revoked, forfeited in connection with a disciplinary matter, or forfeited in
				lieu of compliance is not eligible for reinstatement under this rule and must
				follow the procedures in rule
				191-10.10 (522B).
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.11 - Temporary Licenses

Current through Register Vol. 47, No. 3, July 24, 2024
An Iowa resident may apply for a temporary license pursuant
				  to Iowa Code section 522B. 10. The applicant must submit a written request to
				  the division that includes the reason for the request and the length of time
				  for which the temporary license is requested. Temporary licenses will be issued
				  for 90 days, with extensions allowed, but in no event for longer than 180 days,
				  pursuant to Iowa Code section
				  522B.10.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.12 - Change in Name, Address or State of Residence

Current through Register Vol. 47, No. 3, July 24, 2024
(1) If a producer's
				name is changed, the producer must file notification with the division, as
				instructed on the division's website, within 30 days of the name change. The
				notification must include:
a. The producer's
				prior name;
b. The producer's
				license number;
c. The producer's
				new name; and
d. A copy of a legal
				document with proof of the name change.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.13 - Reporting of Actions

Current through Register Vol. 47, No. 3, July 24, 2024
(1) A producer must
				report to the division any actions required to be reported by Iowa Code section
				522B.16.
(2) A producer must report
				to the division all CSRU or centralized collection unit of the department of
				revenue actions taken under or in connection with Iowa Code chapter 252J or
				272D and all court orders entered in such actions.
(3) Failure to file reports required by this
				rule is a violation of this chapter and will subject producers to penalty
				pursuant to rule 191-10.20
				(522B).
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.14 - Commissions and Referral Fees

Current through Register Vol. 47, No. 3, July 24, 2024
(1) An insurance
				company shall not pay, and a person shall not accept, any commission, service
				fee, brokerage or other valuable consideration unless the person performing the
				service held a valid license for the line of insurance for which the service
				was rendered at the time the service was performed.
(2) A producer may assign commissions to an
				entity organized for the purpose of operating that producer's insurance
				business if all of the entity's representatives who personally sell, solicit or
				negotiate insurance in Iowa are individually licensed as producers under Iowa
				law.
(3) An insurer or a producer
				may pay a nominal fee for referrals if the same fee is paid for each referral
				whether or not the referral results in an insurance transaction.
(4) An insurer or a producer may not charge
				an additional fee for services that are customarily associated with the sale,
				solicitation, negotiation and servicing of an insurance policy. This
				prohibition does not apply to assigned risk and commercial property/casualty
				policies. Any fees or other charges that are assessed to an insurance consumer
				must be fully disclosed.
(5) A
				person who is not engaged in any activities in Iowa that require a producer
				license in Iowa is not required to maintain an active producer license in order
				to receive override or hierarchy commissions or to receive renewal commissions
				earned while the producer was actively engaged in activities that required a
				producer license.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.15 - Appointments

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Insurers are
				required to file and pay for appointments with the division for each insurer
				with which the producer has an agency relationship. The determination of
				whether an insurer and a producer have an agency relationship will be made by
				the division based on the totality of the circumstances surrounding the
				business relationship. Appointments are not issued for business
				entities.
(2) Insurers must file
				and pay for appointments using the NIPR Gateway.
(3) The notice of appointment must be filed
				within 30 days of the date the insurer and producer execute an agency contract
				or the first insurance application is submitted to the insurer.
(4) Appointment fees are set forth in rule
				191-10.26(522B).
(5) Rescinded IAB
				6/1/22, effective 7/6/22.
(6) When a
				company loses its identity in a new company by merger, acquisition, or
				otherwise, the new company must contact the division to arrange for
				reappointment of the producers to the remaining company.
(7) Insurance companies must file the name,
				address, and electronic address of a contact person for the company, to whom
				the billing statements will be sent. Insurance companies must notify the
				division if there is a change of the person appointed as the contact person or
				if a change of the address of such contact occurs. If an insurance company
				fails to notify the division of such a change, the insurance company must pay a
				$100 fee.
Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.16 - Appointment Renewal

Current through Register Vol. 47, No. 3, July 24, 2024
(1) On or about
				December 1 of each year, the division or its designee will deliver reminders to
				insurance companies that appointment renewals are imminent. Appointments must
				be renewed electronically via the NIPR Gateway at
www.NIPR.com
.
(2) On or about January 2 of each year, a
				list of the producers currently appointed with each insurance company and a
				billing statement will be provided to each insurance company via the NIPR
				Gateway. The billing statement must not be altered, amended or used for
				appointing or terminating producers.
(3) Payment is due on or before March
				1.
(4) Failure to pay renewal
				appointment fees by March 15 will result in termination of a company's
				appointments. Appointments that are terminated due to nonpayment of renewal
				fees may be reappointed using the NIPR Gateway.
(5) Insurance companies must file the name,
				address, and electronic address of a contact person for the company, to whom
				the appointment renewals will be sent. Insurance companies must notify the
				division if a change of the address of such contact occurs. If an insurance
				company fails to notify the division of such a change of address, the insurance
				company must pay a $100 fee.