Iowa Code 510.22 – Waiving of requirements
Current as of: 2023 | Check for updates
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The commissioner may waive the requirements of section 510.21 for any person or class of persons. The factors taken into account in granting a waiver shall include, but are not limited to whether:
1. The person acting as a third-party administrator is primarily in a business other than that of a third-party administrator.
Terms Used In Iowa Code 510.22
- Account: means the same as defined in section 554. See Iowa Code 554E.1
- 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
2. The financial strength and history of the organization indicates stability in its continuity of doing business.
3. The regular duties being performed as a third-party administrator are such that the covered persons are not likely to be injured by a waiver of such requirements.