Iowa Code 507B.3 – Unfair competition or unfair and deceptive acts or practices prohibited
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Iowa Code 507B.3
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
507B.3 Unfair competition or unfair and deceptive acts or practices prohibited.
A person shall not engage in this state in any trade practice which is defined in this chapter as, or determined pursuant to § 507B.6 to be, an unfair method of competition, or an unfair or deceptive act or practice in the business of insurance.
1. A person who violates a provision in chapter 508E shall be deemed to have committed an unfair trade practice under this chapter.
2. The issuance of a qualified charitable gift annuity as provided in chapter 508F does not constitute a trade practice in violation of this chapter.
[C58, 62, 66, 71, §507B.3, 507B.5; C73, 75, 77, 79, 81, §507B.3]
2001 Acts, ch 28, §1; 2003 Acts, ch 91, §5; 2004 Acts, ch 1110, §21; 2008 Acts, ch 1123, §12;
2008 Acts, ch 1155, §20
Referred to in §515E.4, 515K.5
A person shall not engage in this state in any trade practice which is defined in this chapter as, or determined pursuant to § 507B.6 to be, an unfair method of competition, or an unfair or deceptive act or practice in the business of insurance.
1. A person who violates a provision in chapter 508E shall be deemed to have committed an unfair trade practice under this chapter.
2. The issuance of a qualified charitable gift annuity as provided in chapter 508F does not constitute a trade practice in violation of this chapter.
[C58, 62, 66, 71, §507B.3, 507B.5; C73, 75, 77, 79, 81, §507B.3]
2001 Acts, ch 28, §1; 2003 Acts, ch 91, §5; 2004 Acts, ch 1110, §21; 2008 Acts, ch 1123, §12;
2008 Acts, ch 1155, §20
Referred to in §515E.4, 515K.5