Iowa Code 507C.60 – Suspension of certificate of authority
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 507C.60
- Commissioner: means the commissioner of insurance and any successor in office. 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
- State: means a state, district, or territory of the United States and the Panama Canal Zone. See Iowa Code 507C.2
Without advance notice or a hearing, the commissioner may suspend immediately the certificate of authority of any insurer as to which proceedings for receivership, conservatorship, rehabilitation, or other delinquency proceedings have been commenced in any state by the public insurance supervisory official of that state.