508.15 Violation by foreign company. Companies organized and chartered by the laws of a foreign state or country, failing to file the evidence of investment and statement within the time fixed, or failing to timely file anyfinancial statement required by rule of the commissioner of insurance, shall forfeit and payfive hundred dollars, to be collected in an action in the name of the state and paid to thetreasurer of state for deposit as provided in section 505.7, and their right to transact furthernew business in this state shall immediately cease until the requirements of this chapter havebeen fully complied with. The commissioner may give notice to a company which has failedto file within the time fixed that the company is in violation of this section and if the companyfails to file the evidence of investment and statement within ten days of the date of the noticethe company shall forfeit and pay the additional sum of one hundred dollars for each day thefailure continues, to be paid to the treasurer of state for deposit as provided in section 505.7. [C73, §1171; C97, §1776; C24, 27, 31, 35, 39, §8659; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §508.15] 83 Acts, ch 185, §48, o the treasurer of state for deposit as provided in section 505.7. [C73, §1171; C97, §1776; C24, 27, 31, 35, 39, §8659; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §508.15] 83 Acts, ch 185, §48, 62; 83 Acts, ch 186, §10105, 10201, 10204; 89 Acts, ch 321, §34; 91 Acts, ch 213, §6; 2009 Acts, ch 181, §68 Sat Dec 23 00:40:33 2023 Iowa Code 2024, Section 508.15 (21, 0)
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