§ 523a-812

523A.812 Insurance division regulatory fund. The insurance division may authorize the creation of a special revenue fund in the state treasury, to be known as the insurance division regulatory fund. The commissioner shallallocate annually from the filing fees paid pursuant to section 523A.204, two dollars for eachpurchase agreement reported on a preneed seller’s annual report filed pursuant to section523A.204 for deposit to the regulatory fund. The remainder of the fees collected pursuantto section 523A.204 shall be deposited as provided in section 505.7. The commissionershall also allocate annually the examination fees paid pursuant to section 523A.814 andany examination expense reimbursement for deposit to the regulatory fund. The moneysin the regulatory fund shall be retained in the fund. The moneys are appropriated and,subject to authorization by the commissioner, may be used to pay examiners, examinationexpenses, investigative expenses, the expenses of mediation ordered by the commissioner,consumer education expenses, the expenses of a toll-free telephone line to receive consumercomplaints, and the expenses of receiverships established under section 523A.811.

rdered by the commissioner,consumer education expenses, the expenses of a toll-free telephone line to receive consumercomplaints, and the expenses of receiverships established under section 523A.811. If thecommissioner determines that funding is not otherwise available to reimburse the expensesof a person who receives title to a cemetery subject to chapter 523I, pursuant to such areceivership, the commissioner shall use moneys in the regulatory fund as necessary topreserve, protect, restore, and maintain the physical integrity of that cemetery and to satisfyclaims or demands for cemetery merchandise, funeral merchandise, and funeral servicesbased on purchase agreements which the commissioner determines are just and outstanding. 2001 Acts, ch 118, §52; 2005 Acts, ch 128, §4; 2007 Acts, ch 175, §32; 2009 Acts, ch 181, §97; 2021 Acts, ch 181, §42 Sat Dec 23 01:01:13 2023 Iowa Code 2024, Section 523A.812 (25, 0)