Iowa § 521H.7 Penalties

Iowa Statutes

§ 521H.7 — Penalties

Iowa § 521H.7

Title XIIICOMMERCE

Ch. 521HCORPORATE GOVERNANCE ANNUAL DISCLOSURE

This text of Iowa § 521H.7 (Penalties) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 521H.7 (2026).

Text

1.If an insurer or insurance group fails, without just cause, to timely file a corporate governanceannualdisclosureasrequiredinthischapter, thecommissionershall, afternotice and hearing, impose a penalty of five hundred dollars for each day’s delay. The penalty shall be collected by the commissioner and paid to the treasurer of state for deposit as provided in 5 CORPORATE GOVERNANCE ANNUAL DISCLOSURE, §521H.8 section 505.7. The maximum penalty which may be imposed under this section for any single failure is five thousand dollars.

2.The commissioner may reduce the penalty to be imposed if the insurer or insurance group demonstrates to the commissioner that imposition of the penalty would constitute a financial hardship to the insurer or insurance group.

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1. If an insurer or insurance group fails, without just cause, to timely file a corporate
governanceannualdisclosureasrequiredinthischapter, thecommissionershall, afternotice
and hearing, impose a penalty of five hundred dollars for each day’s delay. The penalty shall
be collected by the commissioner and paid to the treasurer of state for deposit as provided in
5 CORPORATE GOVERNANCE ANNUAL DISCLOSURE, §521H.8
section 505.7. The maximum penalty which may be imposed under this section for any single
failure is five thousand dollars.
2. The commissioner may reduce the penalty to be imposed if the insurer or insurance
group demonstrates to the commissioner that imposition of the penalty would constitute a
financial hardship to the insurer or insurance group.