Bill Text: IA SF232 | 2017-2018 | 87th General Assembly | Introduced

Iowa Senate Bill 232 (Prior Session Legislation)

Introduced

Bill Title: A bill for an act relating to notifications made by the commissioner of insurance of the potential need for a receivership for certain preneed sellers and cemeteries. (Formerly SSB 1042.)

Spectrum: Committee Bill

Status: (Introduced - Dead) 2017-03-13 - Withdrawn. S.J. 572. [SF232 Detail]

Download: Iowa-2017-SF232-Introduced.html


Senate File 232 - Introduced




                                 SENATE FILE       
                                 BY  COMMITTEE ON COMMERCE

                                 (SUCCESSOR TO SSB
                                     1042)

                                      A BILL FOR

  1 An Act relating to notifications made by the commissioner of
  2    insurance of the potential need for a receivership for
  3    certain preneed sellers and cemeteries.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
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PAG LIN



  1  1    Section 1.  Section 523A.811, Code 2017, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  01.  The commissioner may notify the
  1  4 attorney general of the potential need for establishment of a
  1  5 receivership if a receivership is requested or consented to by
  1  6 a seller subject to this chapter.
  1  7    Sec. 2.  Section 523I.212, Code 2017, is amended by adding
  1  8 the following new subsection:
  1  9    NEW SUBSECTION.  01.  The commissioner may notify the
  1 10 attorney general of the potential need for establishment of a
  1 11 receivership if a receivership is requested or consented to by
  1 12 a cemetery subject to this chapter.
  1 13                           EXPLANATION
  1 14 The inclusion of this explanation does not constitute agreement with
  1 15 the explanation's substance by the members of the general assembly.
  1 16    This bill allows the commissioner of insurance to notify
  1 17 the attorney general of the potential need for establishment
  1 18 of a receivership for a preneed seller of cemetery and
  1 19 funeral merchandise or funeral services who is subject to Code
  1 20 chapter 523A, if the preneed seller requests or consents to a
  1 21 receivership.
  1 22    Similarly, the bill allows the commissioner to notify the
  1 23 attorney general of the potential need for establishment of a
  1 24 receivership for a cemetery subject to Code chapter 523I if the
  1 25 cemetery requests or consents to a receivership.
  1 26    As required under current law, the commissioner must
  1 27 continue to make such notifications if the commissioner finds
  1 28 that a preneed seller or cemetery meets one or more specified
  1 29 conditions.
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