§ 515a-17

515A.17 Penalties. 1. The commissioner may, if the commissioner finds that any person or organization has violated any provision of this chapter, impose a penalty of not more than one thousanddollars for each such violation, but if the commissioner finds such violation to be willful thecommissioner may impose a penalty of not more than five thousand dollars for each suchviolation. Such penalties may be in addition to any other penalty provided by law. A penaltycollected under this subsection shall be deposited as provided in section 505.7. 2. The commissioner may suspend the license of any rating organization or insurer which fails to comply with an order of the commissioner within the time limited by such order, or anyextension thereof which the commissioner may grant. The commissioner shall not suspendthe license of any rating organization or insurer for failure to comply with an order until thetime prescribed for an appeal therefrom has expired or if an appeal has been taken, until suchorder has been affirmed. The commissioner may determine when a suspension of licenseshall become effective and it shall remain in effect for the period fixed by the commissioner,unless the

until suchorder has been affirmed. The commissioner may determine when a suspension of licenseshall become effective and it shall remain in effect for the period fixed by the commissioner,unless the commissioner modifies or rescinds such suspension, or until the order upon whichsuch suspension is based is modified, rescinded, or reversed. 3. A penalty shall not be imposed and a license shall not be suspended or revoked except upon a written order of the commissioner, stating the commissioner’s findings, made aftera hearing held upon not less than ten days’ written notice to such person or organizationspecifying the alleged violation. [C50, 54, 58, 62, §515A.17, 515B.16; C66, 71, 73, 75, 77, 79, 81, §515A.17]2008 Acts, ch 1123, §39; 2009 Acts, ch 181, §80Referred to in §515A.11, 515A.14 Sat Dec 23 00:48:09 2023 Iowa Code 2024, Section 515A.17 (24, 0)