Text: HF02489 Text: HF02491 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 HOUSE FILE 2490 1 2 1 3 AN ACT 1 4 RELATING TO THE ADMINISTRATION OF THE INSURANCE ACCOUNT OF 1 5 THE COMPREHENSIVE PETROLEUM UNDERGROUND STORAGE TANK FUND, 1 6 CREATING AN UNDERGROUND STORAGE TANK INSURANCE BOARD, AN 1 7 UNDERGROUND STORAGE TANK INSURANCE FUND, AND TRANSFERRING 1 8 ASSETS AND LIABILITIES OF THE INSURANCE ACCOUNT OF THE 1 9 COMPREHENSIVE PETROLEUM UNDERGROUND STORAGE TANK FUND. 1 10 1 11 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 1 12 1 13 Section 1. Section 455G.2, subsection 4, Code 1997, is 1 14 amended to read as follows: 1 15 4. "Claimant" means an owner or operator who has received 1 16 assistance under the remedial account or who has coverage 1 17 under the insuranceaccountfund with respect to a release, or 1 18 an installer or inspector who has coverage under the insurance 1 19accountfund. 1 20 Sec. 2. Section 455G.2, Code 1997, is amended by adding 1 21 the following new subsection: 1 22 NEW SUBSECTION. 12A. "Insurance board" means the Iowa 1 23 underground storage tank insurance board created under section 1 24 455G.11. 1 25 Sec. 3. Section 455G.3, subsection 3, paragraph c, Code 1 26 1997, is amended to read as follows: 1 27 c. To establish an insuranceaccountfund for insurable 1 28 underground storage tank risks within the state as provided by 1 29 section 455G.11. 1 30 Sec. 4. Section 455G.3, subsection 4, Code 1997, is 1 31 amended to read as follows: 1 32 4. The state, the general fund of the state, or any other 1 33 fund of the state, other than the Iowa comprehensive petroleum 1 34 underground storage tank fund, is not liable for a claim or 1 35 cause of action in connection with a tank not owned or 2 1 operated by the state, or agency of the state. All expenses 2 2 incurred by the fund shall be payable solely from the fund and 2 3 no liability or obligation shall be imposed upon the state. 2 4 The liability of the fund is limited to the extent of coverage 2 5 provided by the account or fund under which a claim is 2 6 submitted, subject to the terms and conditions of that 2 7 coverage. The liability of the fund is further limited by the 2 8 moneys made available to the fund, and no remedy shall be 2 9 ordered which would require the fund to exceed its then 2 10 current funding limitations to satisfy an award or which would 2 11 restrict the availability of moneys for higher priority sites. 2 12 The state is not liable for a claim presented against the 2 13 fund. 2 14 Sec. 5. Section 455G.4, subsection 3, Code 1997, is 2 15 amended to read as follows: 2 16 3. RULES AND EMERGENCY RULES. 2 17 a. The board shall adopt rules regarding its practice and 2 18 procedures, develop underwriting standards, establish premiums 2 19 for insuranceaccountfund coverage and risk factors, 2 20 procedures for investigating and settling claims made against 2 21 the fund, determine appropriate deductibles or retentions in 2 22 coverages or benefits offered, and otherwise implement and 2 23 administer this chapter. 2 24 b. The board may adopt administrative rules under section 2 25 17A.4, subsection 2, and section 17A.5, subsection 2, 2 26 paragraph "b", to implement this subsection for one year after 2 27 May 5, 1989. 2 28 c. Rules necessary for the implementation and collection 2 29 of the environmental protection charge shall be adopted on or 2 30 before June 1, 1989. 2 31 d. Rules necessary for the implementation and collection 2 32 of insuranceaccountfund premiums shall be adopted prior to 2 33 offering insurance to an owner or operator of a petroleum 2 34 underground storage tank or other person. 2 35 e. Rules related to the establishment of the insurance 3 1accountfund and the terms and conditions of coverage shall be 3 2 adopted as soon as practicable to permit owners and operators 3 3 to meet their applicable compliance date with federal 3 4 financial responsibility regulations. 3 5 f. Rules to facilitate and encourage the use of community 3 6 remediation whenever possible shall be adopted. 3 7 g. The board shall adopt rules relating to appeal 3 8 procedures which shall require the administrator to deliver 3 9 notice of appeal to the affected parties within fifteen days 3 10 of receipt of notice, require that the hearing be held within 3 11 one hundred eighty days of the filing of the petition unless 3 12 good cause is shown for the delay, and require that a final 3 13 decision be issued no later than one hundred twenty days 3 14 following the close of the hearing. The time restrictions in 3 15 this paragraph may be waived by mutual agreement of the 3 16 parties. 3 17 Sec. 6. Section 455G.8, subsection 4, Code 1997, is 3 18 amended to read as follows: 3 19 4. INSURANCE PREMIUMS. Insurance premium income as 3 20 provided by section 455G.11 shall be credited to the insurance 3 21accountfund. 3 22 Sec. 7. Section 455G.11, subsections 1 through 6, Code 3 23 1997, are amended to read as follows: 3 24 0A. UNDERGROUND STORAGE TANK INSURANCE FUND. 3 25 a. An Iowa underground storage tank insurance fund is 3 26 created as a separate fund in the state treasury on the 3 27 effective date of this Act consisting of all moneys held in 3 28 the insurance account of the comprehensive petroleum 3 29 underground storage tank fund. 3 30 Notwithstanding section 8.33, moneys remaining in the fund 3 31 at the end of each fiscal year shall not revert to the general 3 32 fund but shall remain in the underground storage tank 3 33 insurance fund. Notwithstanding section 12C.7, interest or 3 34 earnings on moneys in the fund shall be credited to the fund 3 35 in addition to any other income specifically allocated to the 4 1 underground storage tank insurance fund. 4 2 b. Amounts in the underground storage tank insurance fund 4 3 shall not be subject to appropriation for any purpose by the 4 4 general assembly, but shall be used only for the purposes set 4 5 forth in this section. The treasurer of state shall act as 4 6 custodian of the fund and disperse moneys contained in it as 4 7 directed by the board. The treasurer of state is authorized 4 8 to invest the moneys deposited in the fund at the discretion 4 9 of the board. The income from such investments shall be 4 10 credited to and deposited in the fund. The fund shall be 4 11 administered by the board which shall make expenditures from 4 12 the fund consistent with the purposes of the programs provided 4 13 for in this chapter without further appropriation. 4 14 c. No later than July 1, 2004, all moneys in the fund 4 15 shall be transferred to the insurance board when restructured 4 16 as an independent nonprofit entity organized to provide an 4 17 allowable mechanism to demonstrate financial responsibility as 4 18 required in 40 C.F.R. pts. 280 and 281, owned and operated by 4 19 insureds, as determined by the comprehensive petroleum 4 20 underground storage tank fund board. 4 21 0B. UNDERGROUND STORAGE TANK INSURANCE BOARD. 4 22 a. An underground storage tank insurance board is 4 23 established and shall consist of the following members: 4 24 (1) The treasurer of state or the treasurer of state's 4 25 designee serving for a two-year term. The treasurer of state 4 26 or the treasurer of state's designee shall serve as a 4 27 nonvoting member of the insurance board. 4 28 (2) The auditor of state or the auditor of state's 4 29 designee serving for a three-year term. The auditor of state 4 30 or the auditor of state's designee shall serve as a nonvoting 4 31 member of the insurance board. 4 32 (3) A representative of a governmental subdivision which 4 33 owns an underground storage tank system which is insured 4 34 through the insurance account and was insured through the 4 35 insurance account of the comprehensive petroleum underground 5 1 storage tank fund beginning on or before October 26, 1990, 5 2 appointed by the governor and serving a six-year term. 5 3 (4) Two owners or operators appointed by the governor who 5 4 have been petroleum systems insureds through the insurance 5 5 account and were insured through the insurance account of the 5 6 comprehensive petroleum underground storage tank fund on or 5 7 before October 26, 1990. The insurance board members 5 8 appointed under this subparagraph shall serve a term of six 5 9 years and shall be eligible to serve subsequent terms pursuant 5 10 to paragraph "b". 5 11 b. After the initial terms served by the insurance board 5 12 members designated in paragraph "a", subparagraphs (1), (2), 5 13 (3), and (4), all subsequent insurance board members shall be 5 14 a part of and elected by the population of private insureds 5 15 who have been petroleum systems insureds through the 5 16 underground storage tank insurance fund and were insured 5 17 through the insurance account of the comprehensive petroleum 5 18 underground storage tank fund. The subsequent insurance board 5 19 members elected pursuant to this paragraph shall serve for 5 20 three-year terms and are eligible to serve an unlimited number 5 21 of terms. 5 22 c. Members of the insurance board are entitled to receive 5 23 reimbursement of actual expenses incurred in the discharge of 5 24 their duties within the limits of the moneys appropriated to 5 25 the insurance board or made available to the fund. 5 26 d. Members of the insurance board shall elect a voting 5 27 chairperson from among the members who are privately insured 5 28 owners and operators. 5 29 0C. RECOMMENDATIONS FOR RESTRUCTURING. Prior to the 5 30 restructuring of the insurance board as an independent 5 31 nonprofit entity, the insurance board shall provide 5 32 recommendations to the comprehensive petroleum underground 5 33 storage tank fund board relating to all of the following: 5 34 a. Relating to rules, practices, procedures, underwriting 5 35 criteria, premium determinations, organizational structure, 6 1 procedures for investigating and settling claims, determining 6 2 appropriate deductibles, benefits offered, and otherwise 6 3 implementing and administering the underground storage tank 6 4 insurance fund. 6 5 b. Confirming that the insurance board has established a 6 6 process to independently provide the following: 6 7 (1) Long-term insurability based upon competitive rates 6 8 for insureds who are in compliance with technical regulatory 6 9 requirements. 6 10 (2) Elimination of any lapse in coverage between state 6 11 insurance coverage and private insurance coverage. 6 12 (3) Ease in transition from state underwriting criteria, 6 13 application process, claims handling, and premium 6 14 determinations. 6 15 (4) Participation of insureds in establishing 6 16 underwriting, application, claims, and premium determinations. 6 17 (5) Continued approval as an acceptable financial 6 18 assurance mechanism as required in 40 C.F.R. pts. 280 and 281. 6 19 c. Determining a date specific upon which all assets and 6 20 liabilities of the insurance fund will be transferred to the 6 21 insurance board as an independent nonprofit entity organized 6 22 to provide an allowable mechanism to provide financial 6 23 responsibility as required by 40 C.F.R. pts. 280 and 281, 6 24 owned and operated by insureds, on or before July 1, 2004. 6 25 0D. TRANSFER OF INSURANCE BOARD MONEYS. 6 26 a. If the insurance board dissolves or ceases to function 6 27 as an acceptable financial assurance mechanism as required in 6 28 40 C.F.R. pts. 280 and 281, any unencumbered and unobligated 6 29 moneys transferred to the insurance board pursuant to 6 30 subsection 0A, paragraph "c", shall be transferred to the 6 31 comprehensive petroleum underground storage tank fund, or if 6 32 the comprehensive petroleum underground storage tank fund is 6 33 no longer in existence, the unencumbered and unobligated 6 34 moneys shall be transferred to the general fund of the state. 6 35 b. If a person or persons purchase the ownership rights of 7 1 the assets of the underground storage tank insurance board, 7 2 any unencumbered and unobligated moneys transferred to the 7 3 insurance board pursuant to subsection 0A, paragraph "c", 7 4 shall be transferred to the comprehensive petroleum 7 5 underground storage tank fund, or if the comprehensive 7 6 petroleum underground storage tank fund is no longer in 7 7 existence, the unencumbered and unobligated moneys shall be 7 8 transferred to the general fund of the state. 7 9 1. INSURANCEACCOUNTFUND AS A FINANCIAL ASSURANCE 7 10 MECHANISM. The insuranceaccountfund shall offer financial 7 11 assurance for a qualified owner or operator under the terms 7 12 and conditions provided for under this section. Coverage may 7 13 be provided to the owner or the operator, or to each 7 14 separately. The board is not required to resolve whether the 7 15 owner or operator, or both are responsible for a release under 7 16 the terms of any agreement between the owner and operator. 7 17 The source of funds for the insuranceaccountfund shall be 7 18 from the following: 7 19 a. Moneys allocated to the board or moneys allocated to 7 20 the account by the board according to the fund budget approved 7 21 by the board. 7 22 b. Moneys collected as an insurance premium including 7 23 service fees, if any, and investment income attributed to the 7 24 account by the board. 7 25 2. LIMITS OF COVERAGE AVAILABLE. An owner or operator 7 26 required to maintain proof of financial responsibility may 7 27 purchase coverage up to the federally required levels for that 7 28 owner or operator subject to the terms and conditions under 7 29 this section and those adopted by the board. 7 30 3. ELIGIBILITY OF OWNERS AND OPERATORS FOR INSURANCE 7 31 ACCOUNT COVERAGE. An owner or operator, subject to 7 32 underwriting requirements and such terms and conditions deemed 7 33 necessary and convenient by the board, may purchase insurance 7 34 coverage from the insuranceaccountfund to provide proof of 7 35 financial responsibility provided that a tank to be insured 8 1 satisfies one of the following conditions: 8 2 a. Satisfies performance standards for new underground 8 3 storage tank systems as specified by the federal environmental 8 4 protection agency in 40 C.F.R. } 280.20, as amended through 8 5 January 1, 1989. 8 6 b. Has satisfied on or before the date of the application 8 7 standards for upgraded underground storage tank systems as 8 8 specified by the federal environmental protection agency in 40 8 9 C.F.R. } 280.21, as amended through January 1, 1989. 8 10c. The applicant certifies in writing to the board that8 11the tank to be insured will be brought into compliance with8 12either paragraph "a" or "b", on or before December 22, 1998,8 13provided that prior to the provision of insurance account8 14coverage, the tank site tests release free. An owner or8 15operator who fails to comply as certified to the board on or8 16before December 22, 1998, shall not insure that tank through8 17the insurance account unless and until the tank satisfies the8 18requirements of paragraph "a" or "b". An owner or operator8 19who fails to comply with either paragraph "a" or "b" by8 20October 26, 1993, or who fails to enter into a contract on or8 21before October 26, 1993, which, upon completion, will bring8 22the owner or operator into compliance with either paragraph8 23"a" or "b" by December 22, 1998, may be eligible for financial8 24assurance under this section but shall be subject to an8 25additional surcharge of eight hundred dollars per tank in8 26addition to payment of a premium that is equal to two times8 27the cost of the premium required under subsection 4, paragraph8 28"g", per insured time period.8 29d. The applicant either:8 30(1) Is maintaining financial responsibility pursuant to8 31current or previously applicable federal or state financial8 32responsibility requirements on petroleum underground storage8 33tanks within the state.8 34(2) Complies with the applicable following date for8 35financial responsibility:9 1(a) On or before April 26, 1990, for a petroleum marketing9 2firm owning at least thirteen, but no more than ninety-nine9 3petroleum underground storage tanks.9 4(b) On or before October 26, 1990, for an owner or9 5operator not described in subparagraph subdivision (a), and9 6not currently or previously required to maintain financial9 7responsibility by federal or state law on tanks within the9 8state.9 94. ACTUARIALLY SOUND PREMIUMS BASED ON RISK FACTOR9 10ADJUSTMENTS AFTER FIVE YEARS. The annual premium for9 11insurance coverage shall be:9 12a. For the year July 1, 1989, through June 30, 1990, one9 13hundred dollars per tank.9 14b. For the year July 1, 1990, through June 30, 1991, one9 15hundred fifty dollars per tank.9 16c. For the year July 1, 1991, through June 30, 1992, two9 17hundred dollars per tank.9 18d. For the year July 1, 1992, through June 30, 1993, two9 19hundred fifty dollars per tank.9 20e. For the year July 1, 1993, through June 30, 1994, in9 21accordance with the following:9 22(1) For a tank satisfying subsection 3, paragraph "a" or9 23"b", three hundred dollars per tank.9 24(2) For a tank qualifying under subsection 3, paragraph9 25"c", six hundred dollars per tank.9 26f. For the period from July 1, 1994, through December 31,9 271994, in accordance with the following:9 28(1) For a tank satisfying subsection 3, paragraph "a" or9 29"b", three hundred fifty dollars per tank.9 30(2) For a tank qualifying under subsection 3, paragraph9 31"c", seven hundred dollars per tank.9 32 c. Is in compliance with all technical requirements of the 9 33 department. 9 34 4. INSURANCE ACCOUNT PREMIUMS. 9 35g. For subsequent time periods, anAn owner or operator 10 1 applying for coverage shall pay an annually adjusted insurance 10 2 premium for coverage by the insuranceaccountfund. The board 10 3 may only approve fund coverage through the payment of a 10 4 premium established on an actuarially sound basis. Risk 10 5 factors shall be taken into account in establishing premiums. 10 6 It is the intent of the general assembly that an actuarially 10 7 sound premium reflect the risk to the insuranceaccountfund 10 8 presented by the insured. Risk factor adjustments should 10 9 reflect the range of risk presented by the variety of tank 10 10 systems, monitoring systems, and risk management practices in 10 11 the general insurable tank population. Premium adjustments 10 12 for risk factors should at minimum take into account lifetime 10 13 costs of a tank and monitoring system and insuranceaccount10 14 fund premiums for that tank system so as to provide a positive 10 15 economic incentive to the owner or operator to install the 10 16 more environmentally safe option so as to reduce the exposure 10 17 of the insuranceaccountfund to loss. Actuarially sound is 10 18 not limited in its meaning to fund premium revenue equaling or 10 19 exceeding fund expenditures for the general tank population. 10 20Tanks receiving financial assurance pursuant to subsection10 213, paragraph "c", shall not be included in the general tank10 22population for purposes of determining actuarially sound10 23premiums under this paragraph.10 24 If coverage is purchased for any part of a year the 10 25 purchaser shall pay the full annual premium. 10 26h.The insuranceaccountfund may offer, at the buyer's 10 27 option, a range of deductibles. A ten thousand dollar 10 28 deductible policy shall be offered. 10 29 5. FUTURE REPEAL. The future repeal of this section shall 10 30 not terminate the following obligations or authorities 10 31 necessary to administer the obligations until these 10 32 obligations are satisfied: 10 33 a. The payment of claims filed prior to the effective date 10 34 of any future repeal, against the insuranceaccountfund until 10 35 moneys in theaccountfund are exhausted. Upon exhaustion of 11 1 the moneys in theaccountfund, any remaining claims shall be 11 2 invalid. 11 3 b. The resolution of a cost recovery action filed prior to 11 4 the effective date of the repeal. 11 5 6. INSTALLER'S AND INSPECTOR'S INSURANCE COVERAGE. 11 6 a. COVERAGE. The boardshallmay offer insurance coverage 11 7 under thefund'sinsuranceaccountfund to installers and 11 8 inspectors of certified underground storage tank installations 11 9 within the state for an environmental hazard arising in 11 10 connection with a certified installation as provided in this 11 11 subsection. Coverage shall be limited to environmental hazard 11 12 coverage for both corrective action and third-party liability 11 13 for a certified tank installation within the state in 11 14 connection with a release from that tank. 11 15 b. ANNUAL PREMIUMS. The annual premium shall be: 11 16 (1) For the year July 1, 1991, through June 30, 1992, two 11 17 hundred dollars per insured tank. 11 18 (2) For the year July 1, 1992, through June 30, 1993, two 11 19 hundred fifty dollars per insured tank. 11 20 (3) For the year July 1, 1993, through June 30, 1994, 11 21 three hundred dollars per insured tank. 11 22 (4) For the period from July 1, 1994, through December 31, 11 23 1994, three hundred fifty dollars per insured tank. 11 24 (5) For subsequent time periods, installers and inspectors 11 25 shall pay an annually adjusted insurance premium to maintain 11 26 coverage on each tank previously installed or newly insured by 11 27 the insuranceaccountfund. The board may only approve fund 11 28 coverage through the payment of a premium established on an 11 29 actuarially sound basis. The premium paid shall be fully 11 30 earned and is not subject to refund or cancellation. If 11 31 coverage is purchased for any part of a year the purchaser 11 32 shall pay the full annual premium. 11 33 (6) The board may offer coverage at rates based on sales 11 34 if the qualifying installer or inspector cannot be rated on a 11 35 per tank basis, or if the work the installer or inspector 12 1 performs involves more than tank installation. The rates to 12 2 develop premiums shall be based on the premium charged per 12 3 tank under subparagraphs (1), (2), (3), and (4). 12 4 c. LIMITS OF COVERAGE AVAILABLE. Installers and 12 5 inspectors may purchase coverage up to one million dollars per 12 6 occurrence and two million dollars aggregate, subject to the 12 7 terms and conditions under this section and those adopted by 12 8 the board. 12 9 d. DEDUCTIBLE. The insuranceaccountfund may offer, at 12 10 the buyer's option, a range of deductibles. A ten thousand 12 11 dollar deductible policy shall be offered. 12 12 e. EXCESS COVERAGE. Installers and inspectors may 12 13 purchase excess coverage of up to five million dollars upon 12 14 such terms and conditions as determined by the board. 12 15 f. CERTIFICATION OF TANK INSTALLATIONS. The board shall 12 16 adopt certification rules requiring certification of a new 12 17 tank installation as a precondition to offering insurance to 12 18 an owner or operator or an installer or inspector. The board 12 19 shall set in the rule the effective date for the certification 12 20 requirement. Certification rules shall at minimum require 12 21 that an installation be personally inspected by an independent 12 22 licensed engineer, local fire marshal, state fire marshal's 12 23 designee, or other person who is unaffiliated with the tank 12 24 owner, operator, installer or inspector, who is qualified and 12 25 authorized by the board to perform the required inspection and 12 26 that the tank and installation of the tank comply with 12 27 applicable technical standards and manufacturer's instructions 12 28 and warranty conditions. An inspector may be an owner or 12 29 operator of a tank, or an employee of an owner, operator, or 12 30 installer. 12 31 g. The board may cease offering insurance coverage under 12 32 this subsection if the board determines that competitive 12 33 private market alternatives exist. 12 34 Sec. 8. Section 455G.11, subsection 8, Code 1997, is 12 35 amended to read as follows: 13 1 8. ACCOUNT EXPENDITURES. Moneys in the insuranceaccount13 2 fund may be expended to take corrective action for and to 13 3 compensate a third party for damages, including but not 13 4 limited to payment of a judgment for bodily injury or property 13 5 damage caused by a release from a tank, where coverage has 13 6 been provided to the owner or operator from the insurance 13 7accountfund, up to the limits of coverage extended. A 13 8 personal injury is not a compensable third-party liability 13 9 damage. 13 10 Sec. 9. Section 455G.11, subsection 10, Code 1997, is 13 11 amended by striking the subsection. 13 12 Sec. 10. Section 455G.11, subsection 11, Code 1997, is 13 13 amended to read as follows: 13 1411.10. LIMITATIONS ON THIRD-PARTY LIABILITY. To the 13 15 extent that coverage under this section includes third-party 13 16 liability, third-party liability specifically excludes any 13 17 claim, cause of action, or suit, for personal injury 13 18 including, but not limited to, loss of use or of private 13 19 enjoyment, mental anguish, false imprisonment, wrongful entry 13 20 or eviction, humiliation, discrimination, or malicious 13 21 prosecution. 13 22 Sec. 11. Section 455G.11, Code 1997, is amended by adding 13 23 the following new subsection: 13 24 NEW SUBSECTION. 11. The board may cease offering 13 25 insurance coverage under this subsection if the board 13 26 determines that competitive private market alternatives exist 13 27 and if the board determines that all of the following 13 28 conditions are met: 13 29 a. Long-term insurability based upon competitive rates for 13 30 insureds who are in compliance with technical regulatory 13 31 requirements. 13 32 b. Elimination of any lapse in coverage between state 13 33 insurance coverage and private insurance coverage. 13 34 c. Ease in transition from state underwriting criteria, 13 35 application process, claims handling, and premium 14 1 determinations. 14 2 d. Participation of insureds in establishing underwriting, 14 3 application, claims, and premium determinations. 14 4 e. Continued approval as an acceptable financial assurance 14 5 mechanism as required in 40 C.F.R. pts. 280 and 281. 14 6 Sec. 12. Section 455G.13, subsection 2, paragraph b, Code 14 7 1997, is amended to read as follows: 14 8 b. An owner or operator's liability for a release for 14 9 which coverage is admitted under the insuranceaccountfund 14 10 shall not exceed the amount of the deductible. 14 11 Sec. 13. Section 455G.13, subsection 12, Code 1997, is 14 12 amended to read as follows: 14 13 12. RECOVERY OR SUBROGATION – INSTALLERS AND INSPECTORS. 14 14 Notwithstanding any other provision contained in this chapter, 14 15 the board or a person insured under the insuranceaccountfund 14 16 has no right of recovery or right of subrogation against an 14 17 installer or an inspector insured by the fund for the tank 14 18 giving rise to the liability other than for recovery of any 14 19 deductibles paid. 14 20 Sec. 14. Section 455G.14, Code 1997, is amended to read as 14 21 follows: 14 22 455G.14 FUND NOT SUBJECT TO REGULATION. 14 23 The fund, including but not limited to insurance coverage 14 24 offered by the insuranceaccountfund, is not subject to 14 25 regulation under chapter 502 or title XIII, subtitle 1. 14 26 14 27 14 28 14 29 RON J. CORBETT 14 30 Speaker of the House 14 31 14 32 14 33 14 34 MARY E. KRAMER 14 35 President of the Senate 15 1 15 2 I hereby certify that this bill originated in the House and 15 3 is known as House File 2490, Seventy-seventh General Assembly. 15 4 15 5 15 6 15 7 ELIZABETH ISAACSON 15 8 Chief Clerk of the House 15 9 Approved , 1998 15 10 15 11 15 12 15 13 TERRY E. BRANSTAD 15 14 Governor
Text: HF02489 Text: HF02491 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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