510.21 Certificates — registration and renewal. 1. A person shall not act as or represent oneself to be a third-party administrator in this state, other than an adjuster licensed in this state for the kinds of business for which theperson is acting as a third-party administrator, unless the person holds a current certificateof registration as a third-party administrator issued by the commissioner of insurance. Acertificate of registration as a third-party administrator shall be renewed every three years.Failure to hold a current certificate of registration shall subject a third-party administrator tothe sanctions set out in section 507B.7. An application for a certificate of registration shall beaccompanied by a filing fee of one hundred dollars. A certificate of registration shall be issuedby the commissioner to a third-party administrator unless the commissioner determines thatthe third-party administrator is not competent, trustworthy, financially responsible, of goodpersonal and business reputation, or has had an application for an insurance license deniedfor cause within the preceding five years. 2. is not competent, trustworthy, financially responsible, of goodpersonal and business reputation, or has had an application for an insurance license deniedfor cause within the preceding five years. 2. If the commissioner denies an application for registration or renewal, a written notice that specifies the reasons for the denial or nonrenewal shall be provided to the applicant.Pursuant to chapter 17A, upon the applicant’s request, the commissioner shall grant theapplicant a hearing on the denial or nonrenewal. 89 Acts, ch 227, §14; 2006 Acts, ch 1117, §47; 2007 Acts, ch 152, §56; 2008 Acts, ch 1074, §2; 2021 Acts, ch 76, §150; 2021 Acts, ch 181, §9 Referred to in §509A.15, 510.10, 510.22, 513D.1 Sat Dec 23 00:42:18 2023 Iowa Code 2024, Section 510.21 (20, 0)
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