1. A person shall not act as or represent oneself to be a third-party administrator in this state, other than an adjuster licensed in this state for the kinds of business for which the person is acting as a third-party administrator, unless the person holds a current certificate of registration as a third-party administrator issued by the commissioner of insurance. A certificate of registration as a third-party administrator shall be renewed every three years. Failure to hold a current certificate of registration shall subject a third-party administrator to the sanctions set out in section 507B.7. An application for a certificate of registration shall be accompanied by a filing fee of one hundred dollars. A certificate of registration shall be issued by the commissioner to a third-party administrator unless the commissioner determines that the third-party administrator is not competent, trustworthy, financially responsible, of good personal and business reputation, or has had an application for an insurance license denied for cause within the preceding five years.

Terms Used In Iowa Code 510.21

  • Commissioner: means the commissioner of insurance. See Iowa Code 510.1B
  • 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
 2. If the commissioner denies an application for registration or renewal, a written notice that specifies the reasons for the denial or nonrenewal shall be provided to the applicant. Pursuant to chapter 17A, upon the applicant’s request, the commissioner shall grant the applicant a hearing on the denial or nonrenewal.
  Previous section
Next section  
 Chapter 510 Contents