2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515 - INSURANCE OTHER THAN LIFE
515.146 - CERTIFICATE REFUSED -- ADMINISTRATIVE PENALTY.

        515.146  CERTIFICATE REFUSED -- ADMINISTRATIVE
      PENALTY.
         The commissioner of insurance shall withhold the commissioner's
      certificate or permission of authority to do business from a company
      neglecting or failing to comply with this chapter.  In addition, a
      company organized or authorized under this chapter which fails to
      file the annual statement referred to in section 515.63 in the time
      required shall pay and forfeit an administrative penalty in an amount
      of five hundred dollars to be collected in the name of the state for
      deposit as provided in section 505.7.  The company's right to
      transact further new business in this state shall immediately cease
      until the company has fully complied with this chapter.  The
      commissioner may give notice to a company which has failed to file
      within the time required that the company is in violation of this
      section and, if the company fails to file the evidence of investment
      and statement within ten days of the date of the notice, the company
      shall forfeit and pay the additional sum of one hundred dollars for
      each day the failure continues, to be paid to the treasurer of state
      for deposit as provided in section 505.7.  

         Section History: Early Form

         [C97, § 1715; C24, 27, 31, 35, 39, § 8947; C46, 50, 54, 58,
      62, 66, 71, 73, 75, 77, 79, 81, § 515.65] 

         Section History: Recent Form

         85 Acts, ch 228, §6; 91 Acts, ch 213, §26; 2007 Acts, ch 152, § 3
         CS2007, § 515.146
         2008 Acts, ch 1074, §16; 2009 Acts, ch 181, §78 

         Footnotes

         Former § 515.146 repealed by 2007 Acts, ch 152, § 84; see §
      515.114
         For future repeal of 2009 amendment to this section, effective
      July 1, 2011, see 2009 Acts, ch 179, §146