Bill Text: IA SSB1042 | 2017-2018 | 87th General Assembly | 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.
Spectrum: Committee Bill
Status: (N/A - Dead) 2017-02-08 - Subcommittee recommends passage. [SSB1042 Detail]
Download: Iowa-2017-SSB1042-Introduced.html
Senate
Study
Bill
1042
-
Introduced
SENATE/HOUSE
FILE
_____
BY
(PROPOSED
DEPARTMENT
OF
COMMERCE/INSURANCE
DIVISION
BILL)
A
BILL
FOR
An
Act
relating
to
notifications
made
by
the
commissioner
of
1
insurance
of
the
potential
need
for
a
receivership
for
2
certain
preneed
sellers
and
cemeteries.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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H.F.
_____
Section
1.
Section
523A.811,
Code
2017,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
01.
The
commissioner
may
notify
the
3
attorney
general
of
the
potential
need
for
establishment
of
a
4
receivership
if
a
receivership
is
requested
or
consented
to
by
5
a
seller
subject
to
this
chapter.
6
Sec.
2.
Section
523I.212,
Code
2017,
is
amended
by
adding
7
the
following
new
subsection:
8
NEW
SUBSECTION
.
01.
The
commissioner
may
notify
the
9
attorney
general
of
the
potential
need
for
establishment
of
a
10
receivership
if
a
receivership
is
requested
or
consented
to
by
11
a
cemetery
subject
to
this
chapter.
12
EXPLANATION
13
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
14
the
explanation’s
substance
by
the
members
of
the
general
assembly.
15
This
bill
allows
the
commissioner
of
insurance
to
notify
16
the
attorney
general
of
the
potential
need
for
establishment
17
of
a
receivership
for
a
preneed
seller
of
cemetery
and
18
funeral
merchandise
or
funeral
services
who
is
subject
to
Code
19
chapter
523A,
if
the
preneed
seller
requests
or
consents
to
a
20
receivership.
21
Similarly,
the
bill
allows
the
commissioner
to
notify
the
22
attorney
general
of
the
potential
need
for
establishment
of
a
23
receivership
for
a
cemetery
subject
to
Code
chapter
523I
if
the
24
cemetery
requests
or
consents
to
a
receivership.
25
As
required
under
current
law,
the
commissioner
must
26
continue
to
make
such
notifications
if
the
commissioner
finds
27
that
a
preneed
seller
or
cemetery
meets
one
or
more
specified
28
conditions.
29
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