reglab/statecodes huggingface dataset:
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.3 - Contact and Correspondence

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Contact information.
All mailed complaints, inquiries and
				correspondence shall be sent to Securities and Regulated Industries Bureau,
				Iowa Insurance Division, 1963 Bell Avenue, Suite 100, Des Moines, Iowa 50315.
				Telephone inquiries may be made at (877)955-1212. Electronic submissions and
				correspondence may be made through the commissioner's website.
(2)
Complaints, inquiries and
				correspondence.
The commissioner may receive and process any complaint
				made regarding merchandise or services, or regarding a sales agent or a preneed
				seller, that alleges certain acts or practices which may constitute one or more
				violations of the provisions of this chapter. Where appropriate, the
				commissioner may refer complaints, in whole or in part, to other agencies. Any
				member of the public or the industry, or any federal, state, or local official,
				may make and file a complaint with the commissioner. If required by the
				commissioner, complaints shall be made on forms prescribed by the
				commissioner.
(3)
Forms and
				instructions.
Copies of all required forms and instructions are
				available on the commissioner's website.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.10 - License Status

Current through Register Vol. 47, No. 3, July 24, 2024
Preneed seller licenses and sales agent licenses have the
				  following three statuses:
(1)
No license.
A person has no current preneed seller or sales
				agent active or restricted license issued by the commissioner
(2)
Active license.
A person
				has had a license issued by the commissioner, it is current in renewals, and it
				is otherwise in good standing.
(3)
Restricted license.
A person has had an active license issued
				by the commissioner, the license is current in renewals, but the active license
				has been placed on restricted status by the commissioner
a. The commissioner may place a license in
				restricted status for various reasons including, but not limited to, the
				following:
(1) Disciplinary action.
(2) Failure to pay state debt or child
				support.
(3) Nondisciplinary reason
				if requested by the person.
(4)
				Cessation of business.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.11 - Application for License

Current through Register Vol. 47, No. 3, July 24, 2024
To obtain a preneed seller license as required by Iowa Code
				  section
				  523A.501
				  or a sales agent license as required by Iowa Code section
				  523A.502,
				  a person must submit an application to the commissioner pursuant to this rule.
				  A person shall not accept any payment or funding, including the assignment of
				  ownership of or proceeds from insurance, related to the purchase of merchandise
				  or services in Iowa, if the sale of the merchandise or services is subject to
				  Iowa Code chapter 523A, unless the person holds an active license. Application
				  forms and instructions may be obtained from the commissioner's website.
(1)
Preneed seller
				application.
A person that desires to be licensed as a preneed seller
				must submit all of the following:
a. A
				completed application form.
b. A
				signed waiver and the required fee allowing the commissioner to request and
				obtain, pursuant to Iowa Code section 523A.501, criminal history data
				information for each owner and director of the applicant, including, but not
				limited to, for each sole proprietor, partner, director, officer, managing
				partner, member, shareholder with 10 percent or more of the stock, or other
				person with a financial interest in the preneed seller, who has the ability to
				control or direct control of trust funds under Iowa Code chapter 523A, as
				determined by the commissioner.
c.
				A financial history, if requested by the commissioner, for each owner and
				director of the applicant, including, but not limited to, for each sole
				proprietor, partner, director, officer, managing partner, member, or
				shareholder with 10 percent or more of the stock.
d. Evidence of a fidelity bond or insurance
				or a statement that demonstrates compliance with Iowa Code section
				523A.201.
e. Payment of the
				appropriate license fee.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.12 - Processing of Application for a License

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Information to be reviewed for
				evaluation of application for a license.
In order to determine whether
				to approve or deny an application for a license, the commissioner shall review
				all information that is submitted with the application, obtained through
				criminal history investigation pursuant to Iowa Code sections
				523A501(3).
				and
				523A502(4).,
				and submitted pursuant to a commissioner's request.
a. The commissioner may require any documents
				reasonably necessary to verify the information contained in the application or
				to verify that the individual making application has the character and
				competency required to receive a license. The commissioner also may request
				fingerprints and reimbursement of costs for investigating a criminal history,
				pursuant to Iowa Code sections
				523A501(3).
				and
				523A502(4)..
b. The commissioner shall conduct the
				criminal history data request and other investigations pursuant to Iowa Code
				sections
				523A501(3).
				and
				523A502(4)..
				For purposes of preneed sellers' licenses, pursuant to Iowa Code section
				523A501(3).,
				the commissioner's investigation of criminal history data and financial history
				shall be limited to persons who have the ability to control or to direct the
				control of trust funds under Iowa Code chapter 523 A, as determined by the
				commissioner. The commissioner may deny the application for a license based on
				an applicant's conviction in any jurisdiction for a criminal offense involving
				dishonesty or a false statement.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.13 - Approval and Denial of License Applications; Issuance of License

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Approval of license application.
If the commissioner approves
				a license application, the commissioner shall issue a license, the term of
				which shall begin the day the license is issued and end April 15.
(2)
License denial.
The
				commissioner may deny a license application based on information received
				during the application process, on any ground listed in Iowa Code section
				523A503.
				or rules 191-100.16 (523A) and 191-100.40 (523A).
a.
Notice of denial.
When
				the commissioner denies an application for a preneed seller or sales agent
				license, the commissioner shall send a denial letter to the applicant by
				certified mail, return receipt requested, or in the manner of service of an
				original notice. The denial letter shall serve as notice of the denial and
				shall explain why the commissioner denied the application.
b.
Appeal.
An applicant that
				desires to contest the denial of an application may request a contested case
				proceeding pursuant to 191-Chapter 3 within 30 calendar days of the date the
				notice of denial is mailed. A failure to timely request a hearing constitutes
				failure to exhaust administrative remedies. License denial hearings under this
				chapter shall be conducted pursuant to 191-Chapter 3. License denial hearings
				and all documents related thereto are contested cases open to the public
				pursuant to Iowa Code chapters 17A and 22. While each party shall have the
				burden of establishing the matters asserted, the applicant shall have the
				ultimate burden of persuasion as to the applicant's qualification for
				licensure.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.14 - Continuing Education Requirements

Current through Register Vol. 47, No. 3, July 24, 2024
For each license term, each licensed sales agent shall
				  complete a minimum of three credits of continuing education in courses
				  acceptable to the commissioner, which may include independent study courses,
				  pursuant to paragraph 100.14(2)
"g."
Completion of the required
				  continuing education is mandatory for the renewal of a sales agent license.
				  "Independent study" means a subject, program or activity that a person pursues
				  autonomously that meets the requirements of this rule and that includes a test
				  at the conclusion of the independent study. Independent study includes but is
				  not limited to programs conducted using television, the Internet, video,
				  sound-recorded programs, correspondence work, and other similar media.
(1)
Exemption.
The
				requirements of this rule do not apply to:
a.
				A licensed funeral director.
b. A
				licensed insurance producer.
c. A
				licensed sales agent who served full time in the U.S. armed forces on active
				duty during a substantial part of the continuing education term and who submits
				evidence of such service.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.15 - License Renewal

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Procedure for renewal.
The commissioner shall renew preneed
				sellers' licenses, pursuant to Iowa Code section
				523A.501(7),
				or sales agents' licenses, pursuant to Iowa Code section
				523A.502(5),
				for both active and restricted status licenses, if the preneed sellers or sales
				agents provide to the commissioner all of the following, which must be received
				by the commissioner on or before April 15 of each year:
a.
Annual report.
A preneed
				seller or sales agent shall file a complete and accurate annual report in the
				form and manner directed by the commissioner. A preneed seller's report must
				include information on affiliated sales agents as provided in the instructions.
				The form and instructions may be obtained through the commissioner's
				website.
b.
Verification of
				completion of continuing education.
A sales agent shall have completed
				the continuing education required by rule
				191-100.14 (523A) and shall
				attest to completion of the continuing education and compliance with all
				instructions on the commissioner's website.
c.
Renewal fee.
A preneed
				seller or sales agent shall submit a renewal fee as set out in rule
				191-100.18 (523A). Failure to
				include the proper amount shall be cause for the renewal to be
				rejected.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.16 - Prohibited Activities Related to Licensing

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Fraudulent or deceptive acts in
				procuring a license.
An individual shall not engage in fraudulent or
				deceptive acts in procuring a preneed seller or sales agent license. Prohibited
				acts include but are not limited to the following:
a. False representations of a material fact,
				whether by conduct or by false or misleading statements.
b. Concealing or omitting anything that
				should have been disclosed or included with the application.
c. Filing a false identification.
d. Filing an untrue certification or
				affidavit.
e. Falsifying
				documents.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.17 - Reinstatement of a Restricted License

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Definition.
The term
				"reinstatement" as used in this rule means changing the status of a license
				from restricted to active.
(2)
Application for reinstatement.
Any preneed seller or sales
				agent whose license is restricted may request reinstatement by filing an
				application for reinstatement with the commissioner. Instructions can be found
				on the commissioner's website. If the licensed person meets all conditions of
				licensure, the commissioner shall reinstate the license.
(3)
Reinstatement after disciplinary
				action.
If the restricted status of the license was the result of a
				disciplinary action, or was a forfeiture by the preneed seller or sales agent
				in connection with a disciplinary action, reinstatement must be in accordance
				with the terms of the applicable order or consent agreement. An application for
				reinstatement shall allege facts which, if established, will be sufficient to
				enable the commissioner to determine that the basis for placing the license in
				restricted status no longer exists. Before determining whether to grant
				reinstatement, the commissioner may review a financial history report for the
				time period during which the license was restricted.
(4)
Reinstatement after preneed
				seller's change of ownership or cessation of business operations.
If
				the restricted status of a preneed seller's license was the result of the
				preneed seller's change of ownership or cessation of business operations under
				rule 191-100.35 (523A), an
				application for reinstatement shall allege facts which, if established, will be
				sufficient to enable the commissioner to determine that the basis for placing
				the license in restricted status no longer exists. Before determining whether
				to grant reinstatement, the commissioner may review a financial history report
				for the time period during which the license was restricted.
(5)
Reinstatement after failure to
				pay child support.
If the restricted status of the license was the
				result of a suspension for failure to pay child support pursuant to paragraph
				100.40(2)7, the application for reinstatement shall include proof from the Iowa
				child support recovery unit that the outstanding child support has been
				paid.
(6)
Reinstatement
				after failure to pay student loan debt.
Rescinded IAB 1/1/20,
				effective 2/5/20.
(7)
Reinstatement after failure to pay state debt.
If the
				restricted status of the license was the result of a suspension for failure to
				pay state debt pursuant to paragraph 100.40(2)"/, " the application for
				reinstatement shall include proof from the centralized collection unit of the
				department of revenue that the outstanding state debt has been paid.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.18 - Payment of Fees

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Manner of payment.
Fees shall be paid by electronic payment as
				permitted by the commissioner.
(2)
Nonrefundable.
Fees are not refundable.
(3)
Specific fees.
Fees are
				set by Iowa Code chapter 523A and by this chapter.
a. The license fee for a preneed seller
				applicant is $25, plus $15 for each criminal history request made on each
				individual for whom a criminal history is required by Iowa Code section
				523A501(3)..
b. The license fee for a sales agent
				applicant is $ 10, plus $ 15 for each criminal history background
				check.
c. The fee for a license
				renewal is $15 for a preneed seller and $10 for a sales agent.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.19 - Master Trusts

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Creation of master trusts.
Pursuant to Iowa Code section
				523A.203, a preneed seller may commingle the care funds of multiple
				beneficiaries in a master trust. When a preneed seller enters into a master
				trust agreement and establishes a master trust agreement at a financial
				institution:
a. The title of the financial
				account shall include the name of the preneed seller and be identified as a
				master trust account.
b. Rescinded
				IAB 3/10/21, effective 4/14/21.
c.
				Either the preneed seller or the financial institution shall maintain the
				detailed listing as required by Iowa Code section
				523A.203
				(3) by keeping the following:
(1) One listing
				of the amount deposited in trust for each beneficiary; and
(2) A separate accounting of each purchaser's
				principal, interest, and income, and balance in trust for each beneficiary who
				has care funds in the master trust account.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.20 - Trust Interest or Income

Current through Register Vol. 47, No. 3, July 24, 2024
A preneed seller may withdraw interest or income, as defined
				  by Iowa Code section
				  523A.102, from trusts
				  holding funds which are established pursuant to Iowa Code section
				  523A.201(8)
				   and which are related to purchase agreements
				  executed on or after July 1, 1987, in accordance with this rule.
(1)
Amount of trust interest or
				income which may be withdrawn.
Trust interest and income must remain
				in trust and cannot be withdrawn by a preneed seller, except that a preneed
				seller may withdraw from a purchase agreement trust fund any interest and
				income credited to the trust during the preceding calendar year in excess of
				the sum of the following amounts, which sum must be retained in trust:
a. Fifty percent of the total interest and
				income credited to the trust during the preceding calendar year, and
b. An additional amount necessary to adjust
				the trust funds for inflation, as set by the commissioner based on the consumer
				price index pursuant to rule
				191-100.22
				(523A).
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.21 - Cancellation Refunds

Current through Register Vol. 47, No. 3, July 24, 2024
The requirement set forth in Iowa Code section
				  523A602(2).
"b"
(1) applies to any purchase agreement executed on or after
				  July 1, 2001.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.22 - Consumer Price Index Adjustment

Current through Register Vol. 47, No. 3, July 24, 2024
The inflation factor adjustment to be used for Iowa Code
				  sections
				  523A201(8).
				  and
				  523A602(2).
"b"
(1), for years 1987 and later, shall be the consumer price
				  index for all urban consumers (CPI-U) issued by the U.S. Department of Labor's
				  Bureau of Labor Statistics.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.23 - Preneed Seller's Use of Surety Bond in Lieu of Trust

Current through Register Vol. 47, No. 3, July 24, 2024
(1) In lieu of the trust requirements of Iowa
				Code section
				523A.405,
				a preneed seller may file with the commissioner a surety bond. The surety bond
				shall be in the form as directed by the commissioner and as available on the
				commissioner's website.
(2) A
				surety bond claimant, for purposes of this rule, includes any purchaser whose
				purchase agreement predates the effective date of the surety bond or was
				executed during the surety bond's period of coverage and whose purchase
				agreement has not been rescinded, fulfilled, or secured by another bond, by
				other insurance, or by trust funds.
(3) Except as provided in subrule 100.23(6),
				no suit or action shall be commenced by a surety bond claimant later than one
				year after the expiration date of the surety bond.
(4) Any surety bond claimant as set forth in
				subrule 100.23(2) may maintain an action on the surety bond. A surety's
				aggregate liability shall not exceed the penal sum of the bond.
(5) A surety shall not cancel a surety bond
				except upon written notice of cancellation given by the surety to the
				commissioner by certified mail. The effective date of the cancellation shall
				not be less than 60 days after the commissioner receives the surety's notice.
				The surety shall specify the reason for the cancellation.
(6) The surety shall not be liable for any
				surety bond claim related to the preneed seller's insolvency or cessation of
				business unless the surety claim is made within five years of the date of
				insolvency or business cessation.
(7) If the surety notifies the preneed seller
				that the surety intends to cancel a surety bond, the preneed seller, within 30
				days, shall:
a. Submit to the commissioner a
				substitute surety bond complying with this rule; or
b. Deposit funds in an amount as required by
				Iowa Code chapter 523A to a trust account established by the preneed
				seller.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.25 - Funeral and Cemetery Merchandise Warehoused by Preneed Sellers

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Applicability.
This rule applies only to storage existing on
				or before July 1, 2007, under purchase agreements executed between July 1,
				1987, and July 1, 2007.
(2)
Warehousing not permitted.
After July 1, 2007, warehousing
				shall not be used as an alternative to the trust requirements of Iowa Code
				chapter 523 A.
(3)
Approval
				of storage facilities by commissioner.
Notwithstanding subrule
				100.25(2), if a preneed seller receives approval in writing from the
				commissioner pursuant to subrule 100.25(4), the trust requirements of Iowa Code
				sections
				523A201.
				and
				523A202.
				do not apply to either:
a. Payments for outer
				burial containers made of either polystyrene or polypropylene; or
b. Cemetery merchandise delivered to the
				purchaser or stored in a storage facility not owned or controlled by the
				preneed seller.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.30 - Standards of Conduct for Preneed Sellers and Sales Agents

Current through Register Vol. 47, No. 3, July 24, 2024
Rules 191-100.30 (523A) through 191-100.36 (523A) are
				  intended to establish certain minimum standards and guidelines of conduct for
				  preneed sellers and sales agents by identifying required actions or practices.
				  Failure to comply with these rules may be grounds for action under Iowa Code
				  chapter 523A or rule 191-100.40 (523A) or 191-100.41 (523A).
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.31 - Advertisements, Sales Practices and Disclosures

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Advertising.
a. A preneed seller or sales agent shall not
				engage in any act or practice that violates Iowa Code section
				523A702.
				or
				523A703.,
				whether or not actual harm or injury occurs, including but not limited to
				making untrue or improbable statements in advertisements.
b. An advertisement for the solicitation or
				sale of a purchase agreement which is to be funded by insurance shall
				adequately disclose the following:
(1) The
				fact that insurance is to be involved or used to fund a purchase agreement,
				and
(2) The nature of the
				relationship among the sales agent, the preneed seller, the provider of
				merchandise or services, and any other person.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.34 - Changes in Funding Methods for or Terms of Purchase Agreements

Current through Register Vol. 47, No. 3, July 24, 2024
When a preneed seller or sales agent changes the funding
				  method for a prepaid purchase agreement, this rule applies.
(1)
Change in funding of a purchase
				agreement.
When a purchaser changes the funding source for a purchase
				agreement from a bank account or trust account to funding through insurance, or
				from insurance funding from one insurance company to another:
a. This type of change is deemed to be an
				amendment to the purchase agreement, not a cancellation of the original
				purchase agreement.
b. The
				amendment to the purchase agreement may include other minor updates to the
				statement of goods and services.
c.
				The preneed seller shall do all of the following:
(1) Obtain a written, signed and dated
				statement from the purchaser requesting the change in funding and acknowledging
				the transaction in a way that demonstrates the purchaser understood the change
				in funding transaction. A copy of the signed statement shall be provided to the
				purchaser, and a copy shall be retained by the preneed seller.
(2) Describe the change in funding in a
				written amendment to the purchase agreement. The amendment shall be signed and
				dated by the purchaser and the preneed seller. A copy of the signed amendment
				shall be provided to the purchaser, and a copy shall be retained by the preneed
				seller.
(3) If the funding change
				is from a bank account to an insurance account, record the amendment on the
				preneed seller's annual report as a reduction in cash accounts and an increase
				in insurance accounts.
(4) If the
				funding change is from a trust account to an insurance account:
1. Confirm that the policy shall have an
				increasing benefit, as specified in Iowa Code section
				523A.401(5).
2. Record the amendment on the preneed
				seller's annual report as both a withdrawal from trust and an addition of
				insurance. Instructions are available on the commissioner's website.
3. Comply with record-keeping and reporting
				requirements for the sale of new insurance in Iowa Code sections
				523A.401
				and 523A.402.
(5) If the
				change in funding is from one insurance company to another:
1. Document compliance with the disclosure
				requirements of rule 191-15.8 (523A).
2. Comply with the replacement requirements
				of rule 191-16.24 (507B).
3. Record the amendment on the preneed
				seller's annual report as a change in funding from one insurance company to
				another. Instructions are available on the commissioner's
				website.
(6) For record
				maintenance purposes, use the number for the original purchase agreement, not a
				new assigned number.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.35 - Preneed Seller's Change of Ownership and Cessation of Business Operations

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Sale or transfer of purchase agreements or of business.
A
				preneed seller shall not change ownership of a business, sell all or part of a
				business, cease business, or sell or transfer purchase agreements as part of
				the sale of a business or the assets of a business, unless:
a. The preneed seller has notified the
				commissioner of the change at least 90 days prior to the sale or
				transfer.
b. The person receiving
				assets and purchase agreements has an active preneed seller's license at the
				time of the sale or transfer.
c. A
				certified public accountant has performed and filed with the commissioner an
				agreed-upon procedures (AUP) report or other audit acceptable to the
				commissioner, as required by Iowa Code section
				523A207..
d. The commissioner has conducted an
				examination of the sales and market practices of the preneed seller, if the
				commissioner requests.
e. The
				preneed seller has provided the commissioner with any other information
				required for the commissioner to approve the sale or transfer.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.40 - Prohibited Practices for Preneed Sellers and Sales Agents

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The
				commissioner may impose sanctions as set forth in Iowa Code section
				523A.807
				and rules 191-100.40 (523A) and
				191-100.41 (523A), or place a
				license in restricted status, if the commissioner finds that a preneed seller,
				sales agent, or owner, partner, member, director, shareholder or manager of a
				licensed business entity has violated or failed to comply with Iowa Code
				chapter 523 A, this chapter, or any associated rules or implementing orders, or
				is otherwise unable to conduct activities as a preneed seller or sales
				agent.
(2) Grounds for discipline
				include but are not limited to the following acts or practices:
a.
Fraudulent or deceptive
				practices.
Engaging in any act or practice that violates Iowa Code
				section
				523A.701,
				523A.702
				or
				523A.703,
				whether or not actual harm or injury occurs, including but not limited to:
(1) Falsifying business records; or
(2) Misappropriating
				funds.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 100 - Sales of Cemetery Merchandise, Funeral Merchandise and Funeral Services › Rule 191-100.41 - Disciplinary Procedures

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Investigations.
The commissioner is authorized by Iowa Code
				sections
				17A.13(1)
				 and
				523A.803
				to conduct such investigations as the commissioner deems necessary to determine
				whether any person has violated or is about to violate Iowa Code chapter 523A.
				The commissioner is authorized to issue and enforce subpoenas to compel
				testimony and to compel the production of books and records, as more fully
				described in Iowa Code section
				523A.803.
				Upon the commissioner's determination that probable cause exists to commence a
				disciplinary proceeding, the procedures contained in 191-Chapter 3 shall
				apply.
(2)
Legal
				relationship of sales agent to preneed seller.
For purposes of Iowa
				Code section
				523A.502(1),
				a sales agent offering preneed services on behalf of a preneed seller is deemed
				to have a legal relationship as an agent of the preneed seller. The
				determination of whether a sales agent and a preneed seller have a
				principal-agent relationship will be made by the commissioner based on the
				totality of the circumstances surrounding the business relationship.
(3)
Factors used to determine whether
				a preneed seller has agreed to provide merchandise or services.
a. Unless the lack of a mutual agreement has
				been appropriately documented in the preneed seller's preneed purchaser file
				records, a preneed seller has agreed "to furnish cemetery merchandise, funeral
				merchandise, funeral services, or a combination thereof and received an
				"initial payment," for purposes of establishing a "purchase agreement," as
				defined by Iowa Code section
				523A.102, if:
(1) A sales agent of the preneed seller has
				met in person, or had an interactive discussion by telephone or another form of
				electronic communication, and discussed specific items of merchandise or
				services and the price of the applicable merchandise or services with a
				potential purchaser and the potential purchaser did any of the following:
1. Transferred ownership of insurance to the
				preneed seller,
2. Assigned
				proceeds of insurance to the preneed seller, or
3. Established a financial account made
				payable on death to the preneed seller.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 101 - Burial Sites and Cemeteries › Rule 191-101.2 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
For purposes of this chapter, the definitions of Iowa Code
				  chapter 5231 are incorporated by reference. In addition, the following
				  definitions shall apply:
"Division "
means the Iowa insurance
				  division, supervised by the commissioner pursuant to Iowa Code section
				  5058.,
				  in the division's performance of the duties of the commissioner under Iowa Code
				  chapters 505 and 5231.
"Net appreciation "
means the amount by
				  which cumulative capital gains exceed the sum of the capital
				  losses.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 101 - Burial Sites and Cemeteries › Rule 191-101.3 - Examination Expenses Assessment

Current through Register Vol. 47, No. 3, July 24, 2024
If the division performs an on-site examination of a
				  perpetual care cemetery pursuant to Iowa Code section
				  523I213A.,
				  the perpetual care cemetery shall pay the division fee of $150. The fee will
				  not be assessed more than once every five years. In addition, the division
				  reserves the right, in special circumstances, or for investigative examinations
				  for cause, as often as necessary, to assess actual costs of examiners' time,
				  travel, meals and lodging. The fee or costs may be waived by the division, in
				  the division's sole discretion.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 101 - Burial Sites and Cemeteries › Rule 191-101.4 - Sale of Insurance

Current through Register Vol. 47, No. 3, July 24, 2024
The offer to provide cemetery merchandise or services for a
				  death in the future, including the death of the purchaser, of a beneficiary, or
				  of a person other than the purchaser or beneficiary, except if it is the sale
				  of a purchase agreement in compliance with Iowa Code chapter 523A and
				  191-Chapter 100, is the offer to sell insurance, and the cemetery merchandise
				  or services cannot be sold unless they are both of the following:
(1) Sold by an insurance producer licensed in
				Iowa.
(2) Underwritten by an
				insurance company authorized to sell insurance in Iowa.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 101 - Burial Sites and Cemeteries › Rule 191-101.5 - Notice of Disinterment

Current through Register Vol. 47, No. 3, July 24, 2024
The notice filed by a cemetery reporting a disinterment
				  pursuant to Iowa Code section 5231.309(6) shall include a description of the
				  error, the reason the error occurred, the identity of all parties in interest,
				  the date of the initial interment, the identity of the remains being relocated,
				  the location where the disinterment will occur, and the location of the new
				  interment space. The division and parties in interest may waive the notice
				  required by Iowa Code section 5231.309(6) if all parties in interest have
				  otherwise received notice of the action and consented to the disinterment and
				  relocation.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 101 - Burial Sites and Cemeteries › Rule 191-101.6 - Cemeteries Owned or Operated by a Governmental Subdivision

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Governmental subdivision deemed trustee. A
governmental
				subdivision holding care fund amounts shall be deemed the trustee of the care
				fund for purposes of Iowa Code chapter 5231 unless a care fund trust agreement
				provides otherwise.
(2)
Governmental subdivision's adoption of ordinance to create care
				fund.
For purposes of Iowa Code section 5231.502, if a governmental
				subdivision adopts an ordinance or resolution as required by Iowa Code section
				5231.502 with the language set forth on the division's Web site,
www.iid.iowa.gov
, or alternate similar language
				approved in writing by the division, the division shall deem the action as
				creating a care fund trust agreement for a perpetual care cemetery.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 101 - Burial Sites and Cemeteries › Rule 191-101.7 - Commingling of Care Fund Accounts

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Generally, commingling not permitted.
Except as otherwise
				provided in subrules 101.7(2) and 101.7(3), the assets of a care fund may not
				be commingled with the assets of another care fund or with any other fund's
				assets.
(2)
Other care
				funds.
The assets of one or more care funds may be commingled in a
				single financial account for investment purposes if separate title and separate
				accounting are maintained for each cemetery's care fund.
(3)
Governmental subdivisions.
				A
governmental subdivision may commingle care funds pursuant to Iowa
				Code section 5231.506.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 101 - Burial Sites and Cemeteries › Rule 191-101.9 - Filing Annual Reports

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Annual
				reports filed by perpetual care cemeteries.
a. Each year between January 1 and April 30,
				perpetual care cemeteries shall file a complete and accurate annual report for
				the prior reporting period, in the form and manner required by the division.
				For purposes of Iowa Code section
				523I.813
				and this rule, "reporting period" means a calendar year.
b. This rule shall apply to all perpetual
				care cemeteries submitting annual reports after January 1, 2017, providing
				information for the 2016 calendar year reporting period.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 101 - Burial Sites and Cemeteries › Rule 191-101.10 - Independent Review

Current through Register Vol. 47, No. 3, July 24, 2024
The division may use an independent expert to review whether
				  a care fund or a perpetual care cemetery is in compliance with Iowa Code
				  chapter 5231 and this chapter. Costs of the independent expert review shall be
				  borne by the perpetual care cemetery.
These rules are intended to implement Iowa Code chapter 5231
				  as amended by 2016 Iowa Acts, House File 2394.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 102 - Iowa Retirement Facilities › Rule 191-102.1 - Purpose and Applicability

Current through Register Vol. 47, No. 3, July 24, 2024
This chapter is promulgated to implement and administer Iowa
				  Code chapter 523D, which regulates senior adult congregate living facilities
				  and continuing care retirement communities. This chapter applies to entities of
				  the same kind and in the same manner as set forth in Iowa Code section
				  523D.2.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 102 - Iowa Retirement Facilities › Rule 191-102.3 - Forms and Filings

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Copies of all
				required forms and instructions are available on the division's website,
www.iid.iowa.gov
.
(2) All filings, fees and payments shall be
				made as directed by the commissioner. Instructions are available at the
				division's website,
http://www.iid.iowa.gov
.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 102 - Iowa Retirement Facilities › Rule 191-102.4 - Standards for the Disclosure Statement

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Readability.
Documents
				required by Iowa Code sections
				523D3.,
				523D.5 and
				523D6. to be given to
				residents, prospective residents, and personal representatives, including
				disclosure statements and residents' contracts, shall be drafted in accordance
				with the following standards:
a. The language
				used shall be readable by a person of average intelligence and
				education.
b. All information
				presented should be conveyed in a logical sequence and in a clear and direct
				fashion.
c. Complex and compound
				sentences should be avoided.
d.
				Words should convey their commonly understood meanings.
e. Definitions shall be included for words or
				terms which cannot properly be explained or qualified in the text.
f. Frequent section headings should be used
				to permit ease in locating provisions.
g. Documents shall be printed in a typeface
				and a point size easily legible to the audience to whom the literature is
				directed. An upright typeface with at least 10-point type should be
				used.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 102 - Iowa Retirement Facilities › Rule 191-102.5 - Certified Financial Statements, Studies, and Forecasts

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Certified financial statements, as
				required by Iowa Code section 523D.3(1)
"i, "
shall be prepared
				in accordance with generally accepted accounting principles (GAAP).
(2) Certified financial statements shall be
				presented in a format that allows financial analysis of the contracting party
				undertaking to provide the continuing care. The contracting party may consist
				of an individual facility or numerous operating units. In some cases, where the
				financial condition and financial obligations of affiliated legal entities are
				relevant to the financial condition of the contracting party, preparation on a
				consolidated basis may be necessary. Certified financial statements shall
				provide sufficient financial disclosure to the continuing care resident to
				enable the resident to make an informed decision.
(3) Studies or forecasts must disclose the
				basic assumptions used.
(4) The
				following certified financial statements must be filed with the annual
				disclosure statement:
a. An income statement
				or a statement of revenues and expenses;
b. A statement of changes in equity or
				changes in fund balances;
c. A
				balance sheet; and
d. A statement
				of cash flow.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 102 - Iowa Retirement Facilities › Rule 191-102.6 - Amendments to the Disclosure Statement

Current through Register Vol. 47, No. 3, July 24, 2024
Changes in the operations of a provider or licensed facility
				  which shall require an amendment to a disclosure statement include, but are not
				  limited to, the following:
(1) New or
				additional mortgages, security interests, loan commitments, long-term financing
				arrangements, or leases that materially affect the real property of the
				licensed facility unless the material terms of such transactions were
				specifically described as proposed transactions in the disclosure
				statement.
(2) The sale of the
				licensed facility to a new provider.
(3) Changes in the provider's tax
				status.
(4) A material change in
				the form of the resident contract.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 102 - Iowa Retirement Facilities › Rule 191-102.7 - Records

Current through Register Vol. 47, No. 3, July 24, 2024
(1) A licensed
				facility or provider shall keep accurate accounts, books and records concerning
				transactions regulated under Iowa Code chapter 523D.
(2) A licensed facility's or provider's
				accounts, books and records shall include:
a.
				Copies of all contracts;
b. The
				name and address of each resident, prospective resident, or current or past
				contract holder;
c. Copies of
				disclosure statements, any amendments thereto, and any supporting documentation
				for the information included in the disclosure statements and annual disclosure
				statements pursuant to Iowa Code section
				523D3.;
d. Copies of documents related to new
				construction as required by Iowa Code section
				523D5.;
				and
e. The dates and amounts of all
				receipts and expenditures.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 102 - Iowa Retirement Facilities › Rule 191-102.8 - Misrepresentations

Current through Register Vol. 47, No. 3, July 24, 2024
A licensed facility or provider shall not represent or imply
				  in any manner that the licensed facility or provider has been sponsored,
				  recommended, or approved or that the licensed facility's or provider's
				  abilities or qualifications have in any respect been passed upon by the
				  commissioner, the Iowa insurance division, or the state of Iowa. Nonetheless,
				  if the statements are factually correct, a licensed facility or provider may
				  state that the licensed facility or provider has filed with the Iowa insurance
				  division an annual certification in accordance with Iowa Code section
				  523D.2A.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 102 - Iowa Retirement Facilities › Rule 191-102.9 - Violations

Current through Register Vol. 47, No. 3, July 24, 2024
Failure to comply with this chapter or with Iowa Code chapter
				  523D shall be deemed a violation which shall subject a person or entity to the
				  procedures and penalties set forth in Iowa Code chapter 523D.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 103 - Residential and Motor Vehicle Service Contracts › Rule 191-103.1 - Purpose

Current through Register Vol. 47, No. 3, July 24, 2024
The purpose of this chapter is to administer Iowa Code
				  chapter 523C as amended by 2019 Iowa Acts, Senate File 619, relating to service
				  contracts and service companies.
Iowa Administrative Code › Agency 191 - Insurance Division › Regulated Industries › Chapter 103 - Residential and Motor Vehicle Service Contracts › Rule 191-103.2 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
The definitions in Iowa Code section
				  523C.1 as amended by
				  2019 Iowa Acts, Senate File 619, section 1, are incorporated by this reference.
				  In addition, the following definitions shall apply to this chapter.
"Division"
means the Iowa insurance
				  division, supervised by the commissioner pursuant to Iowa Code section
				  505.8,
				  in the division's performance of the duties of the commissioner under Iowa Code
				  chapter 523C as amended by 2019 Iowa Acts, Senate File 619.
"Division's website"
means the website of
				  the Iowa insurance division, iid.iowa.gov.
"Residential customer,"
as used in the
				  definition of "residential service contract" in Iowa Code section
				  523C.1 as amended by
				  2019 Iowa Acts, Senate File 619, section 1, means any person (whether or not
				  the person is the owner of the residential property) who purchases a
				  residential service contract relating to a residential property.
"Residential property"
means any single- or
				  multiple-unit structure, including a house, townhouse, condominium, mobile
				  home, or other habitable structure, which is used primarily for residential
				  purposes.
"Service contract holder"
means the original
				  purchaser of a service contract or the successor in interest or transferee
				  entitled to services under the contract.
"Structural components,"
as used in the
				  definition of "residential service contract" in Iowa Code section
				  523C.1 as amended by
				  2019 Iowa Acts, Senate File 619, section 1, means the roof, foundation,
				  basement, walls, ceiling or floors of a residential property.