2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515F - CASUALTY INSURANCE
515F.19 - PENALTIES.

        515F.19  PENALTIES.
         1.  The commissioner may, upon a finding that a person or
      organization has violated a provision of this chapter, impose a civil
      penalty of not more than ten thousand dollars for each violation, but
      if the violation is found to be willful, a penalty of not more than
      twenty-five thousand dollars may be imposed for each violation.
         a.  The civil penalties may be in addition to any other
      penalty provided by law.
         b.  For purposes of this section, an insurer using a rate for
      which the insurer has failed to file the rate, supplementary rate
      information, underwriting rules or guides, or supporting information
      as required by this chapter, has committed a separate violation for
      each day the failure continues.
         2. a.  The commissioner may suspend or revoke the license of
      an advisory organization or insurer which fails to comply with an
      order of the commissioner within the time limit set by the order, or
      an extension of the order.
         b.  The commissioner may determine when a suspension of
      license becomes effective and it shall remain in effect for the
      period fixed by the commissioner, unless the commissioner modifies or
      rescinds the suspension, or until the order upon which the suspension
      is based is modified, rescinded, or reversed.
         3.  A penalty shall not be imposed and a license shall not be
      suspended or revoked except upon a written order of the commissioner
      stating the commissioner's findings, made after hearing.
         4.  A penalty collected under this section shall be deposited as
      provided in section 505.7.  

         Section History: Recent Form

         90 Acts, ch 1234, §63; 2009 Acts, ch 181, §81
         Referred to in § 515F.16, 515F.23 

         Footnotes

         For future repeal of subsection 4, effective July 1, 2011, see
      2009 Acts, ch 179, §146