§ 508d-9

508D.9 Miscellaneous provisions. 1. Records shall be kept of all negotiations and meetings in which the facility or the facility’s representatives are involved to discuss the activities of the facility in carrying outthe powers and duties set out under section 508D.6. Records of negotiations or meetingsshall be made public pursuant to chapter 22 only upon the termination of a liquidation,rehabilitation, or conservation proceeding involving the impaired or insolvent insurancecompany whose business was assumed by or assigned to the facility, upon the terminationof the impairment or insolvency of the insurance company, or upon the order of a court ofcompetent jurisdiction. This subsection does not limit the duty of the association to render areport of its activities under subsection 2. 2. The facility is subject to examination and regulation by the oversight organization. The board of directors shall submit to the oversight organization by June 1 of each year a financialreport for the preceding calendar year and a report of its activities during the precedingcalendar year. The financial report shall be in a form approved by the oversight organization. 3.

a financialreport for the preceding calendar year and a report of its activities during the precedingcalendar year. The financial report shall be in a form approved by the oversight organization. 3. The facility is exempt from payment of all fees and taxes levied by this state or any of its subdivisions on insurance companies, except taxes levied on the real property of the facility. 4. A member guaranty association and its agents and employees, the facility and its agents and employees, members of the board of directors, and the oversight organization and itsrepresentatives are not liable for any acts or omissions while acting within the scope of theiremployment and in the performance of their powers and duties under this chapter, exceptfor acts or omissions not in good faith which involve intentional misconduct or which involvea knowing violation of law. 94 Acts, ch 1011, §9 Sat Dec 23 00:41:20 2023 Iowa Code 2024, Section 508D.9 (14, 0)