2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 508 - LIFE INSURANCE COMPANIES
508.15 - VIOLATION BY FOREIGN COMPANY.

        508.15  VIOLATION BY FOREIGN COMPANY.
         Companies organized and chartered by the laws of a foreign state
      or country, failing to file the evidence of investment and statement
      within the time fixed, or failing to timely file any financial
      statement required by rule of the commissioner of insurance, shall
      forfeit and pay five hundred dollars, to be collected in an action in
      the name of the state and paid to the treasurer of state for deposit
      as provided in section 505.7, and their right to transact further new
      business in this state shall immediately cease until the requirements
      of this chapter have been fully complied with.  The commissioner may
      give notice to a company which has failed to file within the time
      fixed 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

         [C73, § 1171; C97, § 1776; C24, 27, 31, 35, 39, § 8659; C46,
      50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 508.15] 

         Section History: Recent Form

         83 Acts, ch 185, § 48, 62; 83 Acts, ch 186, § 10105, 10201, 10204;
      89 Acts, ch 321, § 34; 91 Acts, ch 213, §6; 2009 Acts, ch 181, §68 

         Footnotes

         For future repeal of 2009 amendment to this section, effective
      July 1, 2011, see 2009 Acts, ch 179, §146