Iowa Code 522C.2 – Definitions
Current as of: 2023 | Check for updates
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As used in this chapter, unless the context otherwise requires:
1. “Business entity” means a corporation, association, partnership, limited liability company, limited liability partnership, or any other legal entity.
Terms Used In Iowa Code 522C.2
- Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or any other legal entity. See Iowa Code 522C.2
- Commissioner: means the commissioner of insurance. See Iowa Code 522C.2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Electronic: means the same as defined in section 554D. See Iowa Code 554E.1
- First-party claim: means a claim filed by a person insured under the insurance policy against which the claim is made. See Iowa Code 522C.2
- 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
- Individual: means a natural person. See Iowa Code 522C.2
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual or a business entity. See Iowa Code 522C.2
- personal property: include money, goods, chattels, evidences of debt, and things in action. See Iowa Code 4.1
- Personal property: All property that is not real property.
- property: includes personal and real property. See Iowa Code 4.1
- Public adjuster: means any person who for compensation or any other thing of value acts on behalf of an insured by doing any of the following:a. See Iowa Code 522C.2
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Uniform business entity application: means the current version of the national association of insurance commissioners' uniform business entity application for resident and nonresident business entities. See Iowa Code 522C.2
- Uniform individual application: means the current version of the national association of insurance commissioners' uniform individual application for resident and nonresident individuals. See Iowa Code 522C.2
2. “Commissioner” means the commissioner of insurance.3. “Fingerprints” means an impression of the lines on a human finger taken for the purposes of identification. The impression may be electronic or in ink converted to an electronic format.4. “First-party claim” means a claim filed by a person insured under the insurance policy against which the claim is made.5. “Individual” means a natural person.6. “Person” means an individual or a business entity.7. “Public adjuster” means any person who for compensation or any other thing of value acts on behalf of an insured by doing any of the following:a. Acting for or aiding an insured in negotiating for or effecting the settlement of a first-party claim for loss or damage to real or personal property of the insured.b. Advertising for employment as a public adjuster of first-party insurance claims or otherwise soliciting business or representing to the public that the person is a public adjuster of first-party insurance claims for loss or damage to real or personal property of an insured.c. Directly or indirectly soliciting business investigating or adjusting losses, or advising an insured about first-party claims for loss or damage to real or personal property of the insured.8. “Uniform business entity application” means the current version of the national association of insurance commissioners’ uniform business entity application for resident and nonresident business entities.9. “Uniform individual application” means the current version of the national association of insurance commissioners’ uniform individual application for resident and nonresident individuals.