§ 522B.1 Definitions
§ 522B.2 License required
§ 522B.3 Exceptions to licensing
§ 522B.4 Application for examination
§ 522B.5 Application for license
§ 522B.5A Criminal history check
§ 522B.6 License
§ 522B.7 Nonresident licensing
§ 522B.8 Exemption from examination
§ 522B.9 Assumed names
§ 522B.10 Temporary licensing
§ 522B.11 License denial, nonrenewal, or revocation — limitation on duties and responsibilities of insurance producers
§ 522B.12 Commissions
§ 522B.13 Appointments
§ 522B.14 Notification to commissioner of termination — penalties
§ 522B.15 Reciprocity
§ 522B.16 Reporting of actions
§ 522B.16A Duties of licensees
§ 522B.16B Written consent to engage or participate in business of insurance
§ 522B.17 Cease and desist orders — penalties
§ 522B.17A Injunctive relief
§ 522B.18 Rules

Terms Used In Iowa Code > Chapter 522B - Licensing of Insurance Producers

  • Allegation: something that someone says happened.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Iowa Code 522B.1
  • Child: includes child by adoption. See Iowa Code 4.1
  • Commission: means the real estate commission as established by chapter 543B. See Iowa Code 543C.1
  • Commissioner: means the commissioner of insurance. See Iowa Code 522B.1
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: means the same as defined in section 554D. See Iowa Code 554E.1
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Electronic: means the same as defined in section 554D. See Iowa Code 554E.1
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • 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
  • Fraud: Intentional deception resulting in injury to another.
  • Home state: means the District of Columbia and any state or territory of the United States in which an insurance producer maintains the producer's principal place of residence or principal place of business and is licensed to act as an insurance producer. See Iowa Code 522B.1
  • Insurance: means any of the lines of authority an insurer is authorized to sell in this state. See Iowa Code 522B.1
  • Insurance producer: means a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Iowa Code 522B.1
  • Insurer: means a person engaged in the business of insurance who is regulated under chapter 508, 512B, 515, or 520. See Iowa Code 522B.1
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • License: means a document issued pursuant to this chapter by the commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Iowa Code 522B.1
  • Limited lines insurance: means any authority granted by the home state which restricts the authority of the license to less than the total authority prescribed in the associated major lines pursuant to section 522B. See Iowa Code 522B.1
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Money: means the same as defined in section 554. See Iowa Code 554E.1
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms, or conditions of the contract, provided that the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers. See Iowa Code 522B.1
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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 522B.1
  • Policy owner: means a person who is identified as the legal owner of an insurance policy or contract under the terms of the insurance policy or contract, or who is otherwise vested with legal title to the insurance policy or contract through a valid assignment completed in accordance with the terms of the insurance policy or contract and is properly recorded as the legal owner of the policy or contract in the records of the insurer. See Iowa Code 522B.1
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Producer database: means the national database of insurance producers maintained by the national association of insurance commissioners, its affiliates, or subsidiaries. See Iowa Code 522B.1
  • property: includes personal and real property. See Iowa Code 4.1
  • Record: means the same as defined in section 554D. See Iowa Code 554E.1
  • Rule: includes "regulation". See Iowa Code 4.1
  • Sale: means any sale, offer for sale, or attempt to sell or lease any land, to the public in this state, for cash or on credit. See Iowa Code 543C.1
  • Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurer. See Iowa Code 522B.1
  • 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.
  • solicitation: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See Iowa Code 522B.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
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena: A command to a witness to appear and give testimony.
  • Testify: Answer questions in court.
  • Transaction: means a sale, trade, exchange, transfer, payment, or conversion of a digital asset or any other property or any other action or set of actions occurring between two or more persons relating to the conduct of business, commercial, or governmental affairs. See Iowa Code 554E.1
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform application: means the current version of the national association of insurance commissioners uniform application for resident and nonresident insurance producer licensing. See Iowa Code 522B.1
  • 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 522B.1
  • United States: includes all the states. See Iowa Code 4.1
  • year: means twelve consecutive months. See Iowa Code 4.1