2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 508D - MULTISTATE LIFE AND HEALTH INSURANCE RESOLUTION FACILITY
508D.6 - POWERS AND DUTIES OF THE FACILITY.

        508D.6  POWERS AND DUTIES OF THE FACILITY.
         1.  The facility shall perform those duties of the member guaranty
      associations which are delegated to the facility as permitted under
      the enabling legislation of each member guaranty association and
      which are consistent with the plan of operation.
         2.  Except as otherwise provided in this chapter, the facility is
      granted specific authority to exercise the powers of a domestic life
      or health insurer.
         3.  The facility is not authorized to solicit, advertise, market,
      sell, underwrite, issue, insure, administer, or reinsure new
      insurance business or insurance business of insurance companies which
      are not impaired or insolvent according to the laws of their state of
      domicile.
         4.  The board of directors of the facility may enter into
      agreements with any interstate compact organization established for
      the purpose of administering impaired or insolvent insurance
      companies in this or any other state.
         5.  An activity involving the authority of the facility derived
      from chapter 507C or other law related to insurer supervision,
      rehabilitation, and liquidation shall be performed in compliance with
      the requirements of such law.
         6.  The facility established under this chapter is not subject to
      any insurance licensing requirements and an employee of the facility
      is not subject to any insurance licensing requirements for activities
      performed within the employee's scope of duties.  All regulatory
      oversight of the facility shall be conducted by the oversight
      organization.  

         94 Acts, ch 1011, §6
         Referred to in § 508D.9