2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 507 - EXAMINATION OF INSURANCE COMPANIES
507.6 - CONFLICT OF INTEREST.

        507.6  CONFLICT OF INTEREST.
         1.  An examiner shall not be appointed by the commissioner if the
      examiner, either directly or indirectly, has a conflict of interest
      or is affiliated with the management of or owns a pecuniary interest
      in any person subject to examination under this chapter.  This
      section shall not be construed to automatically preclude an examiner
      from being any of the following:
         a.  A policyholder or claimant under an insurance policy.
         b.  A grantor of a mortgage or similar instrument on the
      examiner's residence to a regulated entity if done under customary
      terms and in the ordinary course of business.
         c.  An investment owner in shares of regulated diversified
      investment companies.
         d.  A settlor or beneficiary of a blind trust into which any
      otherwise impermissible holdings have been placed.
         2.  Notwithstanding the requirements of subsection 1, the
      commissioner may retain from time to time, on an individual basis,
      qualified actuaries, certified public accountants, or other similar
      individuals who are independently practicing their professions, even
      though the persons may from time to time be similarly employed or
      retained by persons subject to examination under this chapter.  

         Section History: Early Form

         [C24, 27, 31, 35, 39, § 8630; C46, 50, 54, 58, 62, 66, 71, 73,
      75, 77, 79, 81, § 507.6] 

         Section History: Recent Form

         92 Acts, ch 1117, § 4
         Referred to in § 87.11C