Iowa Code § 522.9
Penalties
Iowa · Iowa Code Chapter 522 — Insurer Risk and Solvency Assessments · Status: effective
Cite this
- Citation
- Iowa Code § 522.9, Penalties, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2265852
- Permanent ID
ys:prov:2265852@1- SHA-256
c687825c7e7d8b9f5bb98642ed0b33a46a5c77c89690ac88e9db43a6f9b4b82b
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
1. If an insurer fails, without just cause, to file an own risk and solvency assessment summary report by the filing date stipulated to the commissioner pursuant to section 522.5, subsection 1, paragraph “c”, the commissioner shall, after notice and hearing, impose a penalty of five hundred dollars for each calendar day after the stipulated date that the summary report is not filed. The penalties shall be collected by the commissioner and deposited pursuant to section 505.7. The maximum penalty which may be imposed under this section is fifty thousand dollars.
2. The commissioner may reduce the penalty to be imposed if the insurer demonstrates to the commissioner that imposition of the penalty would constitute a financial hardship to the insurer.