§ 510.21 — Certificates — registration and renewal

Iowa § 510.21

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 510: MANAGING GENERAL AGENTS AND THIRD-PARTY ADMINISTRATORS

Text

1. A person shall not act as or represent oneself to be a third-party administrator in this
state, other than an adjuster licensed in this state for the kinds of business for which the
person is acting as a third-party administrator, unless the person holds a current certificate
of registration as a third-party administrator issued by the commissioner of insurance. A
certificate of registration as a third-party administrator shall be renewed every three years.
Failure to hold a current certificate of registration shall subject a third-party administrator to
the sanctions set out in section 507B.7. An application for a certificate of registration shall be
accompaniedbyafilingfeeofonehundreddollars. Acertificateofregistrationshallbeissued
by the commissioner to a third-party administrator unless the commissioner determines that
9 MANAGING GENERAL AGENTS AND THIRD-PARTY ADMINISTRATORS, §510.23
the third-party administrator is not competent, trustworthy, financially responsible, of good
personal and business reputation, or has had an application for an insurance license denied
for cause within the preceding five years.
2. If the commissioner denies an application for registration or renewal, a written notice
that specifies the reasons for the denial or nonrenewal shall be provided to the applicant.
Pursuant to chapter 17A, upon the applicant’s request, the commissioner shall grant the
applicant a hearing on the denial or nonrenewal.