Iowa Code 507C.36 – Proof of claim
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1. Proof of claim shall consist of a statement signed by the claimant that includes all of the following that are applicable:
a. The particulars of the claim including the consideration given for it.
b. The identity and amount of the security on the claim.
c. The payments, if any, made on the debt.
d. A statement that the sum claimed is justly owing and that there is no setoff, counterclaim, or defense to the claim.
e. Any right of priority of payment or other specific right asserted by the claimant.
f. A copy of the written instrument which is the foundation of the claim.
g. The name and address of the claimant and the attorney who represents the claimant, if any.
Terms Used In Iowa Code 507C.36
- Counterclaim: A claim that a defendant makes against a plaintiff.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Foreign guaranty association: means a similar entity presently existing in or to be created in the future by the legislature of any other state. See Iowa Code 507C.2
- Guaranty association: means the Iowa insurance guaranty association created in chapter 515B, the Iowa life and health insurance guaranty association created in chapter 508C, and any other similar entity either presently existing or to be created by the general assembly for the payment of claims of insolvent insurers. See Iowa Code 507C.2
- Insurer: means a person who has done, purports to do, is doing or is licensed to do insurance business, and is or has been subject to the authority of, or to liquidation, rehabilitation, reorganization, supervision, or conservation by an insurance commissioner. See Iowa Code 507C.2
- security: includes a mortgage loan, mortgage-related securities, and an interest in any mortgage loan or mortgage-related security. See Iowa Code 507C.2
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
2. A claim need not be considered or allowed if it does not contain all the information in subsection 1 which is applicable. The liquidator may require that a prescribed form be used and may require that other information and documents be included.
3. At any time the liquidator may request the claimant to present information or evidence supplementary to that required under subsection 1 and may take testimony under oath, require production of affidavits or depositions, or otherwise obtain additional information or evidence.
4. A judgment or order against an insured or the insurer entered after the date of filing of a successful petition for liquidation, or a judgment or order against an insured or the insurer entered at any time by default or by collusion need not be considered as evidence of liability or of quantum of damages. A judgment or order against an insured or the insurer entered within four months before the filing of the petition need not be considered as evidence of liability or of the quantum of damages.
5. Claims of a guaranty association or foreign guaranty association shall be in the form and contain the substantiation as may be agreed to by the association and the liquidator.