§ 533a-3

533A.3 Investigation. 1. Upon the filing of each application and the payment of the fees, the superintendent shall conduct an investigation of the facts concerning the application and the requirementsprovided in subsection 3. 2. The superintendent shall grant or deny each application for a license within sixty days from the date that the application and the required fee are filed and paid, unless the periodis extended by written agreement between the applicant and the superintendent. 3. a. The superintendent shall enter an order granting the application, and issue and deliver a license to the applicant if the superintendent finds that both of the following aresatisfied: (1) The experience, financial responsibility, character, and general fitness of the applicant is sufficient as to command the confidence of the public and to warrant belief that the businesswill be operated lawfully, honestly, fairly, and efficiently within the purposes of this chapter. (2) The applicant has not been convicted of or pled guilty to a felony or an indictable misdemeanor for financial gain, or has not had a record of having defaulted in paymentof money collected for others, including the discharge of

onvicted of or pled guilty to a felony or an indictable misdemeanor for financial gain, or has not had a record of having defaulted in paymentof money collected for others, including the discharge of such debts through bankruptcyproceedings. b. If the applicant is not a natural person, this subsection shall apply to the owners, partners, members, shareholders, officers, directors, and managers of the applicant. 4. If the applicant has, at the time of the application, a license for an office located within ten miles of the location of the office named in the application, a license shall not be issuedunless the superintendent finds that public convenience will be served by the issuance of thelicense. 5. A license shall not be transferable or assignable.6. If the superintendent finds the applicant not qualified under subsection 3, the superintendent shall enter an order denying the application and notify the applicant ofthe denial, returning the license fee. Within fifteen days after the entry of such order, thesuperintendent shall prepare written findings and shall deliver a copy to the applicant.

y the applicant ofthe denial, returning the license fee. Within fifteen days after the entry of such order, thesuperintendent shall prepare written findings and shall deliver a copy to the applicant. [C71, 73, 75, 77, 79, 81, §533A.3]2006 Acts, ch 1042, §3Referred to in §533A.15 Sat Dec 23 01:36:24 2023 Iowa Code 2024, Section 533A.3 (17, 0)