515B.10 Prevention of insolvencies.
1. a. To aid in the detection and prevention of insurer insolvencies the board of directors, upon majority vote, may do either of the following:
(1) Make recommendations to the commissioner for the detection and prevention of insurer insolvencies.
(2) Respond to a request by the commissioner to discuss and make recommendations regarding the status of member insurers whose financial condition may be hazardous to policyholders or the public.
b. At the conclusion of a domestic insurer insolvency, the board of directors may prepare a report based on the information available to the association on the history and causes of the insolvency. The report may be submitted to the commissioner.
2. Recommendations and reports made pursuant to subsection 1, paragraph “a”, subparagraph (2), are not public records under chapter 22.
[C71, 73, 75, 77, 79, 81, §515B.10]
86 Acts, ch 1184, §8
Referred to in §22.7(22), 515B.5
Structure Iowa Code
Chapter 515B - INSURANCE GUARANTY ASSOCIATION
Section 515B.3 - Creation of the association.
Section 515B.4 - Board of directors.
Section 515B.5 - Duties and powers of the association.
Section 515B.6 - Plan of operation.
Section 515B.7 - Duties and powers of the commissioner.
Section 515B.8 - Effect of paid claims.
Section 515B.9 - Nonduplication of recovery.
Section 515B.10 - Prevention of insolvencies.
Section 515B.11 - Examination of the association.
Section 515B.12 - Tax exemption.
Section 515B.13 - Recognition of assessments in rates.
Section 515B.15 - Stay of proceedings.
Section 515B.16 - Actions against the association.
Section 515B.17 - Timely filing of claims.
Section 515B.18 - Prohibited advertising.
Section 515B.19 - Coordination among guaranty associations.