2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515F - CASUALTY INSURANCE
515F.8 - LICENSING ADVISORY ORGANIZATIONS.

        515F.8  LICENSING ADVISORY ORGANIZATIONS.
         1.  License required.  An advisory organization shall not
      provide a service relating to the rates of insurance subject to this
      chapter, and an insurer shall not utilize the services of an advisory
      organization for such purposes unless the advisory organization has
      obtained a license under subsection 3.
         2.  Availability of services.  An advisory organization shall
      not refuse to supply any services for which it is licensed in this
      state to an insurer authorized to do business in this state and
      offering to pay the fair and usual compensation for the services.
         3.  Licensing.
         a.  Application.  An advisory organization applying for a
      license shall include with its application all of the following:
         (1)  A copy of its constitution, charter, articles of
      organization, agreement, association, or incorporation, and a copy of
      its bylaws, plan of operation, and any other rules or regulations
      governing the conduct of its business.
         (2)  A list of its members and subscribers.
         (3)  The name and address of one or more residents of this state
      upon whom notices, process affecting it, or orders of the
      commissioner may be served.
         (4)  A statement showing its technical qualifications for acting
      in the capacity for which it seeks a license.
         (5)  A biography of the ownership and management of the
      organization.
         (6)  Any other relevant information and documents that the
      commissioner may require.
         b.  Change of circumstances.  An advisory organization which
      has applied for a license shall notify the commissioner of every
      material change in the facts or in the documents on which its
      application was based.  An amendment to a document filed under this
      section shall be filed at least thirty days before it becomes
      effective.
         c.  Granting of license.  If the commissioner finds that the
      applicant and the natural persons through whom it acts are competent,
      trustworthy, and technically qualified to provide the services
      proposed, and that all requirements of the law are met, the
      commissioner shall issue a license specifying the authorized activity
      of the applicant.  The commissioner shall not issue a license if the
      proposed activity would tend to create a monopoly or to substantially
      lessen the competition in any market.
         d.  Duration.  A license issued under this section shall
      remain in effect for one year unless the license is suspended or
      revoked.  The commissioner may, at any time after hearing, revoke or
      suspend the license of an advisory organization which does not comply
      with the requirements and standards of this chapter.  

         90 Acts, ch 1234, §52
         Referred to in § 515F.14, 515F.23