2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 508E - VIATICAL SETTLEMENT CONTRACTS
508E.19 - AUTHORITY TO PROMULGATE RULES.

        508E.19  AUTHORITY TO PROMULGATE RULES.
         The commissioner shall have the authority to do all of the
      following:
         1.  Adopt rules implementing and administering this chapter.
         2.  Establish standards for evaluating reasonableness of payments
      under viatical settlement contracts for persons who are terminally or
      chronically ill.  This authority includes but is not limited to
      regulation of discount rates used to determine the amount paid in
      exchange for assignment, transfer, sale, devise, or bequest of a
      benefit under a life insurance policy insuring the life of a person
      who is chronically or terminally ill.
         3.  Establish appropriate licensing requirements, fees, and
      standards for continued licensure for viatical settlement providers
      and brokers.
         4.  Require a bond or other mechanism for financial accountability
      for viatical settlement providers and viatical settlement brokers.
         5.  Adopt rules governing the relationship and responsibilities of
      both insurers and viatical settlement providers and viatical
      settlement brokers during the viatication of a life insurance policy
      or certificate.  

         2008 Acts, ch 1155, §19