2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 510A - BUSINESS PRODUCER CONTROLLED PROPERTY AND CASUALTY INSURERS
510A.6 - PENALTIES.

        510A.6  PENALTIES.
         1.  If the commissioner believes that a controlling producer or
      any other person subject to this chapter has not materially complied
      with this chapter, or any rule adopted or order issued pursuant to
      this chapter, after notice and opportunity to be heard, the
      commissioner may order the controlling producer to cease placing
      business with the controlled insurer.  Additionally, if the
      commissioner finds that because of such noncompliance the controlled
      insurer or any policyholder of the controlled insurer has suffered
      any loss or damage, the commissioner may maintain a civil action or
      intervene in an action brought by or on behalf of the insurer or
      policyholder for recovery of compensatory damages for the benefit of
      the insurer or policyholder, or for other appropriate relief.
         2.  If an order for liquidation or rehabilitation of the
      controlled insurer has been entered pursuant to chapter 507C, and the
      receiver appointed under that order believes that the controlling
      producer or any other person has not materially complied with this
      chapter, or any rule adopted or order issued pursuant to this
      chapter, and that the insurer suffered any loss or damage as a result
      of the noncompliance, the receiver may maintain a civil action for
      recovery of damages or other appropriate sanctions for the benefit of
      the insurer.
         3.  This section shall not be construed to affect or limit the
      right of the commissioner to impose any other penalties, as
      appropriate, which the commissioner is authorized to impose.
         4.  This section shall not be construed to affect or limit the
      rights of policyholders, claimants, creditors, or other third
      parties.  

         93 Acts, ch 88, §13