523C.12 Optional examination.
The commissioner or a designee of the commissioner may make an examination of the books and records of a service company, including copies of contracts and records of claims and expenditures, and verify its assets, liabilities, and reserves. The actual costs of the examination shall be borne by the service company. The costs of an examination under this section shall not exceed an amount equal to ten percent of the service company’s reported net income in the previous fiscal year.
83 Acts, ch 87, §13; 94 Acts, ch 1031, §18; 2019 Acts, ch 142, §9, 19
Structure Iowa Code
Chapter 523C - RESIDENTIAL AND MOTOR VEHICLE SERVICE CONTRACTS
Section 523C.2 - License required.
Section 523C.3 - Application for license.
Section 523C.4 - License expiration and renewal.
Section 523C.5 - Financial responsibility — demonstration requirements.
Section 523C.6 - Reimbursement insurance policy requirements — insurer qualifications.
Section 523C.7 - Disclosure to service contract holders — contract form — required provisions.
Section 523C.8 - Rebates and commissions.
Section 523C.8A - Issuance of residential service contract without consideration prohibited.
Section 523C.9 - Suspension or revocation of license.
Section 523C.11 - Reserve account.
Section 523C.12 - Optional examination.
Section 523C.13 - Prohibited acts or practices — penalty — violations — contracts voided.
Section 523C.14 - Rate review.
Section 523C.15 - Annual report.
Section 523C.17 - Lending institutions.
Section 523C.19 - Cease and desist orders.
Section 523C.20 - Consent to service of process.
Section 523C.21 - Service of process.
Section 523C.22 - Claim procedures.