§ 505.7

505.7 Fees — expenses of division — assessments. 1. All fees and charges which are required by law to be paid by insurance companies, associations, and other regulated entities shall be payable to the commissioner of theinsurance division of the department of insurance and financial services or department ofrevenue, as provided by law, whose duty it shall be to account for and pay over the sameto the treasurer of state at the time and in the manner provided by law for deposit in thecommerce revolving fund created in section 546.12. 2. The commissioner shall account for receipts and disbursements according to the separate inspection and examination duties imposed upon the commissioner by the laws ofthis state and each separate inspection and examination duty shall be fiscally self-sustaining. 3. Forty percent of the nonexamination revenues payable to the division of insurance or the department of revenue in connection with the regulation of insurance companiesor other entities subject to the regulatory jurisdiction of the division shall be depositedin the commerce revolving fund created in section 546.12 and shall be subject to annualappropriation to the division for its operations

o the regulatory jurisdiction of the division shall be depositedin the commerce revolving fund created in section 546.12 and shall be subject to annualappropriation to the division for its operations and is also subject to expenditure undersubsection 6. The remaining nonexamination revenues payable to the division of insuranceor the department of revenue shall be deposited in the general fund of the state. 4. Except as otherwise provided in subsection 6, the insurance division may expend additional funds if those additional expenditures are actual expenses which exceed thefunds budgeted for statutory duties of the division and directly result from the statutoryduties of the division. The amounts necessary to fund the excess division expenses shall becollected from additional fees and other moneys collected by the division. The division shallnotify in writing the legislative services agency and the department of management whenhiring additional personnel. The written notification shall include documentation that anyadditional expenditure related to such hiring will be totally reimbursed to the general fund,and shall also include the division’s justification for hiring such

on shall include documentation that anyadditional expenditure related to such hiring will be totally reimbursed to the general fund,and shall also include the division’s justification for hiring such personnel. The divisionmust obtain the approval of the department of management only if the number of additionalpersonnel to be hired exceeds the number of full-time equivalent positions authorized bythe general assembly. 5. The insurance division may transfer moneys between budgeted line items of its appropriation, but such transfers may not reduce moneys budgeted for examinations orprofessional services, including but not limited to actuarial and legal services. 6. a. The insurance division may expend additional funds, including funds for additional personnel if those additional expenditures are actual expenses which exceed the fundsbudgeted for insurance solvency oversight under the following conditions: (1) The division may exceed the line item budgets for examinations and professional services, including but not limited to legal and actuarial services, provided that the divisionfunds the increased expenditures through assessments or increased nonexaminationrevenues payable to the

services, including but not limited to legal and actuarial services, provided that the divisionfunds the increased expenditures through assessments or increased nonexaminationrevenues payable to the division under subsection 1 or otherwise. The amounts necessaryto fund the excess expenses may be collected from those regulated entities or classes ofentities which either cause or benefit from the expenditure or encumbrance. (2) Before the division expends or encumbers an amount in excess of the funds budgeted for line items other than examinations and professional services, the director of thedepartment of management shall approve the expenditure or encumbrance. Before approvalis given, the director of the department of management shall determine that the expensescan be paid from nonexamination revenues payable to the division under subsection 1 orotherwise. Upon the approval of the director of the department of management the divisionmay expend and encumber funds for the excess expenses. The amounts necessary to fundthe excess expenses may be collected from those regulated entities or classes of entitieswhich either cause or benefit from the expenditure or encumbrance. b.

s expenses. The amounts necessary to fundthe excess expenses may be collected from those regulated entities or classes of entitieswhich either cause or benefit from the expenditure or encumbrance. b. The annual salaries of the deputy commissioner for supervision and the chief examiner appointed pursuant to section 507.5 shall be expenses of examination of insurancecompanies and shall be charged to insurance companies examined on a proportionate basisas provided by rule adopted by the commissioner. Insurance companies examined shall Sat Dec 23 00:38:28 2023 Iowa Code 2024, Section 505.7 (29, 1) §505.7, INSURANCE DIVISION 2 pay the proportion of the salaries of the deputy commissioner for supervision and the chiefexaminer charged to them as part of the costs of examination as provided in section 507.8. 7. The insurance division shall, by January 15 of each year, prepare estimates of projected receipts, refunds, and reimbursements to be generated by the examinations function of thedivision during the calendar year in which the report is due, and such receipts, refunds, andreimbursements shall be treated in the same manner as repayment receipts, as defined insection 8.2, subsection 8,

n during the calendar year in which the report is due, and such receipts, refunds, andreimbursements shall be treated in the same manner as repayment receipts, as defined insection 8.2, subsection 8, and shall be available to the division to pay the expenses of thedivision’s examination function. 8. The commissioner may assess the costs of an audit or examination to a health insurance purchasing cooperative, in the same manner as provided for insurance companies undersections 507.7 through 507.9, and may establish by rule reasonable filing fees to fund thecost of regulatory oversight. 9. The commissioner may retain funds collected during the fiscal year beginning July 1, 2003, pursuant to any settlement, enforcement action, or other legal action authorized underfederal or state law for the purpose of reimbursing costs and expenses of the division. 10. a. The commissioner shall assess the costs of carrying out the insurance division’s duties pursuant to section 505.8, subsection 18, section 505.17, subsection 2, and sections505.18 and 505.19 that are directly attributable to the performance of the division’s dutiesinvolving specific health insurance carriers licensed to do business

tion 505.17, subsection 2, and sections505.18 and 505.19 that are directly attributable to the performance of the division’s dutiesinvolving specific health insurance carriers licensed to do business in this state. Such expenses shall be charged to and paid by the specific health insurance carrier to whomthe expenses are attributable and upon failure or refusal of any such carrier to pay suchexpenses, the same may be recovered in an action brought in the name of the state. Inaddition, the commissioner may revoke the certificate of authority of a health insurancecarrier licensed to do business in this state that fails to pay such expenses attributable tothat carrier. b. The commissioner shall assess the costs of carrying out the insurance division’s duties generally pursuant to section 505.8, subsection 18, section 505.17, subsection 2, and sections505.18 and 505.19, and for implementation and maintenance of health insurance informationfor consumers on the insurance division’s internet site, that are not attributable to a specifichealth insurance carrier, to all health insurance carriers that are licensed to do business inthis state on a proportionate basis as provided by rules

net site, that are not attributable to a specifichealth insurance carrier, to all health insurance carriers that are licensed to do business inthis state on a proportionate basis as provided by rules adopted by the commissioner. [S13, §1683-r5; C24, 27, 31, 35, 39, §8612; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §505.7] 86 Acts, ch 1246, §615; 87 Acts, ch 234, §433; 90 Acts, ch 1247, §12, 13; 91 Acts, ch 26, §32; 91 Acts, ch 260, §1239; 93 Acts, ch 88, §3; 94 Acts, ch 1176, §1, 2; 2002 Acts, 2nd Ex, ch 1003,§32, 35; 2003 Acts, ch 35, §45, 49; 2003 Acts, ch 145, §286; 2003 Acts, ch 179, §135; 2009 Acts,ch 181, §62, 63; 2010 Acts, ch 1121, §4, 33; 2023 Acts, ch 19, §2729 Referred to in §87.11E, 502.302, 502.304A, 502.305, 502.321G, 502.410, 507.9, 507B.7, 508.13, 508.14, 508.15, 508E.3, 508E.16, 512B.25, 514.9A, 514B.3B, 514B.12, 514G.113, 515.42, 515.115, 515.146, 515.147, 515A.17, 515F.19, 518.15, 518A.18, 518A.40, 520.10, 520.12,521A.10, 521H.7, 522.9, 522A.5, 522B.5, 522E.4, 523A.204, 523A.501, 523A.502, 523A.502A, 523A.807, 523A.812, 523C.13, 523C.24,523D.2A, 523I.205, 523I.813 Deposit of fees, §12.10Subsections 1 and 3 amended Sat Dec 23 00:38:28 2023 Iowa Code 2024,

, 523A.204, 523A.501, 523A.502, 523A.502A, 523A.807, 523A.812, 523C.13, 523C.24,523D.2A, 523I.205, 523I.813 Deposit of fees, §12.10Subsections 1 and 3 amended Sat Dec 23 00:38:28 2023 Iowa Code 2024, Section 505.7 (29, 1)