1. Application for a license as a service company shall be made to and filed with the commissioner on forms approved by the commissioner and shall include all of the following information:

 a. The name and principal address of the applicant.
 b. The state of incorporation of the applicant.
 c. The name and address of the applicant’s registered agent for service of process within Iowa.
 d. A certificate of good standing for the applicant issued by the secretary of state and dated not more than thirty days prior to the date of the application.
 e. Evidence of compliance with section 523C.5.
 f. A copy of each motor vehicle service contract form to be used or issued in this state, if applicable.
 g. A copy of each residential service contract form to be used or issued in this state, if applicable.

Terms Used In Iowa Code 523C.3

  • Commissioner: means the commissioner of insurance. See Iowa Code 523C.1
  • Contract: means the same as defined in section 554D. See Iowa Code 554E.1
  • Contract: A legal written agreement that becomes binding when signed.
  • 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
  • Motor vehicle: means any self-propelled vehicle subject to registration under chapter 321. See Iowa Code 523C.1
  • Motor vehicle service contract: means a contract or agreement sold for separate consideration for a specific duration that undertakes to perform the repair, replacement, or maintenance of a motor vehicle, or indemnification for such repair, replacement, or maintenance, for the operation or structural failure of a motor vehicle due to a defect in materials, workmanship, or normal wear and tear, with or without additional provisions for the incidental payment of indemnity under limited circumstances, including but not limited to motor vehicle towing, rental, emergency road service, and road hazard protection. See Iowa Code 523C.1
  • Service company: means a person who is contractually obligated to perform services pursuant to a motor vehicle service contract or residential service contract. See Iowa Code 523C.1
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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. The application shall be accompanied by all of the following:

 a. A license fee in the amount of five hundred dollars.
 b. If applicable, a fee in the amount of thirty-five dollars for each motor vehicle service contract form submitted in an application as provided in subsection 1, paragraph “f”.
 3. If the application contains the required information and is accompanied by the items set forth in subsection 2, the commissioner shall issue the license. If the form of application is not properly completed or if the required accompanying documents are not furnished or in proper form, the commissioner shall not issue the license and shall give the applicant written notice of the grounds for not issuing the license. A notice of license denial shall be accompanied by a refund of fifty percent of the fee submitted with the application.
 4. Fees collected under this section shall be deposited as provided in section 523C.24.
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