523A.811 Receiverships.
1. The commissioner may notify the attorney general of the potential need for establishment of a receivership if a receivership is requested or consented to by a seller subject to this chapter.
2. The commissioner shall notify the attorney general of the potential need for establishment of a receivership if the commissioner finds that a seller subject to this chapter meets one or more of the following conditions:
a. Is insolvent.
b. Has utilized trust funds for personal or business purposes in a manner inconsistent with this chapter.
c. The amount of funds currently held in trust for cemetery merchandise, funeral merchandise, and funeral services is less than the amount required in section 523A.201, subsection 2 or 3, as applicable.
d. Has refused to pay any just claim or demand based on a purchase agreement referred to in section 523A.201.
e. The commissioner finds upon investigation that a seller is unable to pay any claim or demand based on a purchase agreement which has been legally determined to be just and outstanding.
f. A receivership has been established for a cemetery subject to chapter 523I that is owned or operated by a seller who is subject to this chapter.
3. The commissioner or attorney general may apply to the district court in any county of the state for the establishment of a receivership. Upon proof of any of the grounds for a receivership described in this section, the court may grant a receivership.
4. If a seller who is subject to this chapter owns or operates a cemetery subject to chapter 523I, for which a receivership has been established, the receivership provisions of section 523I.212 shall apply to any receivership established under this section.
2001 Acts, ch 118, §51; 2007 Acts, ch 175, §30, 31; 2008 Acts, ch 1103, §10; 2017 Acts, ch 14, §1
Referred to in §523A.812
Structure Iowa Code
Chapter 523A - CEMETERY AND FUNERAL MERCHANDISE AND FUNERAL SERVICES
Section 523A.101 - Short title.
Section 523A.102 - Definitions.
Section 523A.201 - Establishment of trust funds.
Section 523A.202 - Trust fund deposit requirements.
Section 523A.203 - Financial institution trustees — qualification and investment requirements.
Section 523A.204 - Preneed seller annual reporting requirements.
Section 523A.205 - Financial institution annual reporting requirements.
Section 523A.206 - Examinations — authority and scope.
Section 523A.207 - Report by certified public accountants — penalties — waiver — confidentiality.
Section 523A.301 - Definition.
Section 523A.302 - Identification of merchandise and service provider.
Section 523A.303 - Disbursement of remaining funds.
Section 523A.401 - Purchase agreements funded by insurance proceeds.
Section 523A.402 - Purchase agreements funded by annuity proceeds.
Section 523A.403 - Purchase agreements funded by certificates of deposit.
Section 523A.404 - Merchandise delivered to the purchaser or warehoused.
Section 523A.405 - Bond in lieu of trust fund.
Section 523A.501 - Preneed sellers — licenses.
Section 523A.502 - Sales agents — licenses.
Section 523A.502A - Sales agent annual reporting requirements.
Section 523A.503 - Denial, suspension, revocation, and surrender of licenses.
Section 523A.504 - Appointment of sales agents — fee.
Section 523A.601 - Disclosures.
Section 523A.603 - Security and notice requirements.
Section 523A.604 - Purchase agreements — numbering.
Section 523A.701 - Misleading filings.
Section 523A.702 - Misrepresentations of government approval.
Section 523A.703 - Fraudulent practices.
Section 523A.704 - Violations.
Section 523A.801 - Administration.
Section 523A.802A - Service of process made on the commissioner as the agent for service of process.
Section 523A.803 - Investigations and subpoenas.
Section 523A.805 - Cease and desist orders — injunctions.
Section 523A.806 - Court action for failure to cooperate.
Section 523A.807 - Prosecution for violations of law.
Section 523A.808 - Cooperation with other agencies.
Section 523A.809 - Rules, forms, and orders.
Section 523A.810 - Date of filing — interpretive opinions.
Section 523A.810A - Electronic filing.
Section 523A.811 - Receiverships.
Section 523A.812 - Insurance division regulatory fund.
Section 523A.813 - License revocation — recommendation by commissioner to board of mortuary science.