This file contains STRIKE and UNDERSCORE. If you cannot see either STRIKE or UNDERSCORE attributes or would like to change how these attributes are displayed, please use the following form to make the desired changes.

House Journal: Page 1786: Thursday, April 20, 1995

 9     (6)  Other information reasonably required by the
10   commissioner for purposes of administration of this
11   chapter."
12     2.  Page 5, by striking lines 5 through 10.
13     3.  Page 31, by inserting after line 30 the
14   following:
15     "Sec. ___.  NEW SECTION.  523A.23  MINIMUM FIDELITY
16   BOND OR INSURANCE POLICY.
17     The seller, in connection with an offer or sale of
18   an agreement referred to in section 523A.1, shall
19   obtain and maintain at all times a fidelity bond or
20   insurance policy covering losses resulting from
21   dishonest or fraudulent acts committed by employees of
22   the seller which cause a loss, theft, or
23   misappropriation of cash, property, or a negotiable
24   instrument submitted to the seller pursuant to the
25   agreement.  The fidelity bond or insurance policy must
26   be maintained in an amount not less than fifty
27   thousand dollars."
28     4.  Page 34, by inserting after line 17 the
29   following:
30     "(5)  The name of the purchaser, beneficiary, and
31   the amount of each agreement referred to in section
32   523E.1 made in the preceding year and the date on
33   which it was made.
34     (6)  Other information reasonably required by the
35   commissioner for purposes of administration of this
36   chapter."
37     5.  Page 35, by striking lines 24 through 29.
38     6.  Page 38, by inserting after line 19 the
39   following:
40     "Sec. ___.  NEW SECTION.  523E.22  MINIMUM FIDELITY
41   BOND OR INSURANCE POLICY.
42     The seller, in connection with an offer or sale of
43   an agreement referred to in section 523E.1, shall
44   obtain and maintain at all times a fidelity bond or
45   insurance policy covering losses resulting from
46   dishonest or fraudulent acts committed by employees of
47   the seller which cause a loss, theft, or
48   misappropriation of cash, property, or a negotiable
49   instrument submitted to the seller pursuant to the
50   agreement.  The fidelity bond or insurance policy must

Page 2  

 1   be maintained in an amount not less than fifty
 2   thousand dollars."
 3     7.  Page 65, line 10, by striking the word and
 4   figures ", 566A.2B, and 566A.2C" and inserting the
 5   following:  "and 566A.2B".
 6     8.  Page 65, by striking lines 13 through 15 and
 7   inserting the following:  "exempt from section
 8   566A.2D.  Political subdivisions of the state which
 9   are counties or cities  are exempt from this chapter.

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 1)

© 1995 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Sun Jan 14 21:05:02 CST 1996
URL: /DOCS/GA/76GA/Session.1/HJournal/01700/01786.html
jhf