Text: SF02315 Text: SF02317 Text: SF02300 - SF02399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 SENATE FILE 2316 1 2 1 3 AN ACT 1 4 RELATING TO ENTITIES AND SUBJECT MATTER UNDER THE REGULATORY 1 5 AUTHORITY OF THE REGULATED INDUSTRIES UNIT OF THE INSURANCE 1 6 DIVISION, INCLUDING BUSINESS OPPORTUNITIES, CEMETERIES, AND 1 7 CEMETERY MERCHANDISE, MOTOR VEHICLE SERVICE CONTRACTS, 1 8 PRENEED FUNERAL MERCHANDISE AND SERVICES, AND RESIDENTIAL 1 9 SERVICE CONTRACTS, PROVIDING FOR FEES, AND ESTABLISHING 1 10 PENALTIES. 1 11 1 12 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 1 13 1 14 Section 1. Section 321I.3, subsection 2, Code 1997, is 1 15 amended to read as follows: 1 16 2. In addition to any other required filings, a true and 1 17 correct copy of the service contract and the provider's 1 18 reimbursement insurance policy, the consent to service of 1 19 process on the commissioner, and such other information as the 1 20 commissioner requires, shall be filed annually no later than 1 21 the first day of August. If the first day of August falls on 1 22 a weekend or a holiday, the date for filing shall be the next 1 23 business day. In addition to the annual filing, the provider 1 24 shall promptly file copies of any amended documents, if 1 25 material amendments have been made in the materials on file 1 26 with the division. If an annual filing is made after the 1 27 first of August and sales have occurred during the period when 1 28 the provider was in noncompliance with this section, the 1 29 division shall assess an additional filing fee that is two 1 30 times the amount normally required for an annual filing. A 1 31 fee shall not be charged for interim filings made to keep the 1 32 materials filed with the division current and accurate. The 1 33 annual filing shall be accompanied by a filing fee determined 1 34 by the commissioner which shall be sufficient to defray the 1 35 costs of administering this chapter. 2 1 Sec. 2. Section 321I.5, subsection 2, paragraph f, Code 2 2 1997, is amended to read as follows: 2 3 f. Clearly and conspicuously states the dates that 2 4 coverage starts and ends and the existence, terms, and 2 5 conditions of a deductible amount, if any. 2 6 Sec. 3. Section 321I.5, Code 1997, is amended by adding 2 7 the following new subsection: 2 8 NEW SUBSECTION. 3. A complete copy of the terms of the 2 9 motor vehicle service contract shall be delivered to the 2 10 prospective service contract holder at or before the time that 2 11 the prospective service contract holder makes application for 2 12 the service contract. If there is no separate application 2 13 procedure, then a complete copy of the motor vehicle service 2 14 contract shall be delivered to the service contract holder at 2 15 or before the time the service contract holder becomes bound 2 16 under the contract. 2 17 Sec. 4. Section 321I.6, Code 1997, is amended to read as 2 18 follows: 2 19 321I.6 COMMISSIONER MAY PROHIBIT CERTAIN SALES – 2 20 INJUNCTION. 2 21 The commissioner shall, upon giving a ten-day notice to a2 22motor vehicle service contract provider,issue an order 2 23 instructing the provider to cease and desist from selling or 2 24 offering for sale motor vehicle service contracts if the 2 25 commissioner determines that the provider has failed to comply 2 26 with a provision of this chapter. Upon the failure of a motor 2 27 vehicle service contract provider to obey a cease and desist 2 28 order issued by the commissioner, the commissioner may give 2 29 notice in writing of the failure to the attorney general, who 2 30 shall immediately commence an action against the provider to 2 31 enjoin the provider from selling or offering for sale motor 2 32 vehicle service contracts until the provider complies with the 2 33 provisions of this chapter and the district court may issue 2 34 the injunction. 2 35 Sec. 5. Section 321I.11, subsection 1, paragraph g, Code 3 1 1997, is amended to read as follows: 3 2 g. A motor vehicle service contract provider shall not 3 3 make, publish, disseminate, circulate, or place before the 3 4 public, or cause, directly or indirectly, to be made, 3 5 published, disseminated, circulated, or placed before the 3 6 public in a newspaper, magazine, or other publication, or in 3 7 the form of a notice, circular, pamphlet, letter, or poster, 3 8 or over a radio or television station, or in any other way, an 3 9 advertisement, announcement, or statement containing an 3 10 assertion, representation, or statement with respect to the 3 11 motor vehicle service contract industry or with respect to a 3 12 motor vehicle service contract provider which is untrue, 3 13 deceptive, or misleading. It is deceptive or misleading to 3 14 use any combination of words, symbols, or physical materials 3 15 which by their content, phraseology, shape, color, or other 3 16 characteristics are so similar to a combination of words, 3 17 symbols, or physical materials used by a manufacturer or of 3 18 such a nature that the use would tend to mislead a person into 3 19 believing that the solicitation is in some manner connected 3 20 with the manufacturer, unless actually authorized or issued by 3 21 the manufacturer. 3 22 Sec. 6. Section 321I.12, subsection 1, paragraph a, Code 3 23 1997, is amended by adding the following new subparagraph: 3 24 NEW SUBPARAGRAPH. (4) Copies of all materials relating to 3 25 claims which have been denied. 3 26 Sec. 7. Section 523A.1, subsection 1, unnumbered paragraph 3 27 4, Code 1997, is amended to read as follows: 3 28 This section does not apply to payments for merchandise de- 3 29 livered to the purchaser.Except for caskets and other types3 30of inner burial containers or concrete burial vaults sold3 31after July 1, 1995, deliveryDelivery includes storage in a 3 32 warehouseunder the control of the seller or any other3 33warehouseor storage facility approved by the commissioner 3 34when a receipt of ownership in the name of the purchaser is3 35delivered to the purchaser, the merchandise is insured against4 1loss, the merchandise is protected against damage, title has4 2been transferred to the purchaser, the merchandise is4 3appropriately identified and described in a manner that it can4 4be distinguished from other similar items of merchandise, the4 5method of storage allows for visual audits of the merchandise,4 6and the annual reporting requirements of section 523A.2,4 7subsection 1, are satisfied. Concrete burial vaults and 4 8 caskets sold after July 1, 1995, shall not be delivered in 4 9 lieu of trusting. The commissioner may prohibit delivery in 4 10 lieu of trusting with regard to additional types of inner 4 11 burial containers and merchandise or establish standards for 4 12 the approval of storage facilities, pursuant to rules adopted 4 13 for that purpose. 4 14 Sec. 8. Section 523A.5, subsection 2, Code 1997, is 4 15 amended by adding the following new paragraph: 4 16 NEW PARAGRAPH. d. "Inner burial container" means a 4 17 container in which human remains are placed for burial or 4 18 entombment and, if only one container is used for purposes of 4 19 burial or entombment, includes a container designed to serve 4 20 the same function as merchandise commonly known as burial 4 21 vaults, urn vaults, grave boxes, grave liners, and lawn 4 22 crypts. 4 23 Sec. 9. Section 523A.8, subsection 1, paragraph j, Code 4 24 1997, is amended to read as follows: 4 25 j. Include an explanation of regulatory oversight by the 4 26 insurance division in twelve point bold type, in substantially 4 27 the following language: 4 28 THIS CONTRACTMUST BE REPORTED TO THE IOWA INSURANCE4 29DIVISION BY THE FIRST DAY OF MARCH OF THE FOLLOWING YEARIS 4 30 SUBJECT TO RULES ADMINISTERED BY THE IOWA INSURANCE DIVISION. 4 31 YOU MAY CALL THE INSURANCE DIVISION AT (INSERT TELEPHONE 4 32 NUMBER)TO CONFIRM THAT YOUR CONTRACT HAS BEEN REPORTED. 4 33 WRITTEN INQUIRIES OR COMPLAINTS SHOULD BE MAILED TO THE 4 34 FOLLOWING ADDRESS:IOWA SECURITIES BUREAU,(INSERT ADDRESS). 4 35 Sec. 10. Section 523A.14, Code 1997, is amended to read as 5 1 follows: 5 2 523A.14 INJUNCTIONS. 5 3 The attorney general or the commissioner may apply to the 5 4 district court in any county of the state for an injunction to 5 5 restrain a person subject to this chapter and any agents, 5 6 employees, or associates of the person from engaging in 5 7 conduct or practices deemed contrary to the public interest. 5 8 In any proceeding for an injunction, the attorney general or 5 9 the commissioner may apply to the court for the issuance of a 5 10 subpoena to require the appearance of a defendant and the 5 11 defendant's agents and any documents, books, and records 5 12 germane to the hearing upon the petition for an injunction. 5 13 Upon proof of any of the offenses described in the petition 5 14 for injunction the court may grant the injunction. The 5 15 attorney general or the commissioner shall not be required to 5 16 post a bond. 5 17 Sec. 11. Section 523B.1, subsection 3, paragraph b, Code 5 18 1997, is amended by striking the paragraph. 5 19 Sec. 12. Section 523B.2, subsection 4, Code 1997, is 5 20 amended to read as follows: 5 21 4. EFFECTIVE DATE. A registration automatically becomes 5 22 effective upon the expiration of thetenthfifteenth full 5 23 business day after the complete filing is received by the 5 24 administrator, provided that no order has been issued or 5 25 proceeding is pending under subsection 10. The administrator 5 26 may by order waive or reduce the time period prior to 5 27 effectiveness, provided that a complete filing has been made. 5 28 The administrator may by order defer the effective date until 5 29 the expiration of thetenthfifteenth full business day after 5 30 the filing of an amendment with the administrator. 5 31 Sec. 13. Section 523B.2, subsection 8, paragraph c, 5 32 subparagraph (13), Code 1997, is amended to read as follows: 5 33 (13) The business opportunity seller thatis required to5 34securesecures a bond pursuant tosection 523B.4subsection 10 5 35 shall include in the disclosure document the following 6 1 statement: "As required by the state of Iowa, the seller has 6 2 secured a bond issued by [insert name and address of surety 6 3 company], a surety company, authorized to do business in this 6 4 state. Before signing a contract or agreement to purchase 6 5 this business opportunity, you should check with the surety 6 6 company to determine the bond's current status." 6 7 Sec. 14. Section 523B.2, subsection 10, paragraph a, Code 6 8 1997, is amended by adding the following new subparagraph: 6 9 NEW SUBPARAGRAPH. (9) The seller does not have a minimum 6 10 net worth of twenty-five thousand dollars, as determined in 6 11 accordance with generally accepted accounting principles. A 6 12 seller may submit a surety bond in lieu of the net worth 6 13 requirement. The administrator may by rule or order increase 6 14 the amount of the net worth or bond for the protection of 6 15 purchasers and may require the seller to file reports of all 6 16 sales in this state to determine the appropriate amount of the 6 17 net worth requirement. The surety bond shall be for the 6 18 period of the registration, issued by a surety company 6 19 authorized to do business in this state and for the benefit of 6 20 any purchaser. 6 21 Sec. 15. Section 523B.3, subsection 1, Code 1997, is 6 22 amended to read as follows: 6 23 1.TYPES OFEXEMPTIONS. The following business 6 24 opportunities are exempt from the requirements of section 6 25 523B.2: 6 26 a. The offer or sale of a business opportunity if the 6 27 purchaser is a bank, savings and loan association, trust 6 28 company, insurance company, credit union, or investment 6 29 company as defined by the federal Investment Company Act of 6 30 1940, a pension or profit-sharing trust, or other financial 6 31 institution or institutional buyer, or adealerbroker-dealer 6 32 registered pursuant to chapter 502, whether the purchaser is 6 33 acting for itself or in a fiduciary capacity. 6 34 b. An offer or sale of a business opportunity to an 6 35 ongoing business where the seller will provide products, 7 1 equipment, supplies, or services which are substantially 7 2 similar to the products, equipment, supplies, or services sold 7 3 by the purchaser in connection with the purchaser's ongoing 7 4 business. 7 5 c. An offer or sale of an ongoing business operated by the 7 6 seller which is to be sold in its entirety. 7 7 d. An offer or sale of a business opportunity by an 7 8 executor, administrator, sheriff, receiver, trustee in 7 9 bankruptcy, guardian, or conservator, or a judicial offer or 7 10 sale of a business opportunity. 7 11b.e. The offer or sale of a business opportunity which is 7 12 defined as a franchise under section 523B.1, subsection 4, 7 13 provided that the seller delivers to each purchaser at the 7 14 earlier of the first personal meeting between the seller and 7 15 the purchaser, or ten business days prior to the earlier of 7 16 the execution by a purchaser of a contract or agreement 7 17 imposing a binding legal obligation on the purchaser or the 7 18 payment by a purchaser of any consideration in connection with 7 19 the offer or sale of the business opportunity, one of the 7 20 following disclosure documents: 7 21 (1) A uniform franchise-offering circular prepared in 7 22 accordance with the guidelines adopted by the North American 7 23 securities administrators association, inc., as amended 7 24 through September 21, 1983. 7 25 (2) A disclosure document prepared pursuant to the federal 7 26 trade commission rule entitled "Disclosure requirements and 7 27 prohibitions concerning franchising and business opportunity 7 28 ventures", 16 C.F.R. } 436 (1979). 7 29 For the purposes of this paragraph, a personal meeting 7 30 means a face-to-face meeting between the purchaser and the 7 31 seller or their representatives, which is held for the purpose 7 32 of discussing the offer or sale of a business opportunity. 7 33 The administrator may by rule adopt any amendment to the 7 34 uniform franchise-offering circular that has been adopted by 7 35 the North American securities administrators association, 8 1 inc., or any amendment to the disclosure document prepared 8 2 pursuant to the federal trade commission rule entitled 8 3 "Disclosure requirements and prohibitions concerning 8 4 franchising and business opportunity ventures", 16 C.F.R. } 8 5 436 (1979), that has been adopted by the federal trade 8 6 commission. 8 7c.f. The offer or sale of a business opportunity for 8 8 which the cash payment made by a purchaser does not exceed 8 9 five hundred dollars and the payment is made for the not-for- 8 10 profit sale of sales demonstration equipment, material, or 8 11 samples, or the payment is made for product inventory sold to 8 12 the purchaser at a bona fide wholesale price. 8 13 g. An offer or sale of a business opportunity which 8 14 involves a marketing plan made in conjunction with the 8 15 licensing of a federally registered trademark or federally 8 16 registered service mark provided that the seller has a minimum 8 17 net worth of one million dollars as determined on the basis of 8 18 the seller's most recent audited financial statement prepared 8 19 within thirteen months of the first offer in this state. Net 8 20 worth may be determined on a consolidated basis if the seller 8 21 is at least eighty percent owned by one person and that person 8 22 expressly guarantees the obligations of the seller with regard 8 23 to the offer or sale of a business opportunity claimed to be 8 24 exempt under this paragraph. 8 25d.The offer or sale of a business opportunity which the 8 26 administrator exempts by order or a class of business oppor- 8 27 tunities which the administrator exempts by rule upon the 8 28 finding that the exemption would not be contrary to public 8 29 interest and that registration would not be necessary or ap- 8 30 propriate for the protection of purchasers. 8 31 Sec. 16. Section 523B.3, subsection 2, paragraph a, Code 8 32 1997, is amended to read as follows: 8 33 a.TheIf the public interest of the protection of 8 34 purchasers so requires, the administrator may by order deny or 8 35 revoke an exemption specified in this section with respect to 9 1 a particular offering of one or more business opportunities. 9 2 An order shall not be entered without appropriate prior notice 9 3 to all interested parties, opportunity for hearing, and 9 4 written findings of fact and conclusions of law. 9 5 Sec. 17. Section 523B.7, subsection 1, paragraph a, Code 9 6 1997, is amended to read as follows: 9 7 a. A person who violatessection 523B.4 orsection 523B.2, 9 8 subsection 1, 8, or 9, is liable to the purchaser in an action 9 9 for rescission of the agreement, or for recovery of all money 9 10 or other valuable consideration paid for the business 9 11 opportunity, and for actual damages together with interest as 9 12 determined pursuant to section 668.13 from the date of sale, 9 13 reasonable attorney's fees, and court costs. 9 14 Sec. 18. Section 523B.8, subsection 4, Code 1997, is 9 15 amended to read as follows: 9 16 4. a. If it appears to the administrator that a person 9 17 has engaged, is engaged, or is about to engage in any act or 9 18 practice constituting a violation of this chapter, or of a 9 19 rule or order adopted or issued under this chapter, the 9 20 administrator maytake either or both of the following9 21actions:9 22a. Notify the attorney general who shallbring an action 9 23 in the district court to enjoin the acts or practices 9 24 constituting the violation and to enforce compliance with this 9 25 chapter or any rule or order adopted or issued pursuant to 9 26 this chapter. Upon a proper showing a permanent or temporary 9 27 injunction shall be granted and a receiver or conservator may 9 28 be appointed for the defendant or the defendant's assets. 9 29b. Bring an action in district court.Upon proper showing 9 30 by the administrator, the court may enter an order of 9 31 rescission, restitution, or disgorgement, as well as 9 32 prejudgment and postjudgment interest, directed at any person 9 33 who has engaged in an act constituting a violation of this 9 34 chapter. 9 35 b. The administrator, in bringing an action under 10 1 paragraph "a", shall not be required to post bond. 10 2 Sec. 19. Section 523B.11, subsection 1, Code 1997, is 10 3 amended to read as follows: 10 4 1. A seller who willfully violatessection 523B.4,section 10 5 523B.2, subsection 1, 8, or 9, or section 523B.12, subsection 10 6 2, who willfully violates a rule under this chapter, who 10 7 willfully violates an order of which the person has notice, or 10 8 who violates section 523B.12, subsection 1, knowing that the 10 9 statement made was false or misleading in any material 10 10 respect, upon conviction, is guilty of a class "D" felony. 10 11 Each of the acts specified constitutes a separate offense and 10 12 a prosecution or conviction for any one of such offenses does 10 13 not bar prosecution or conviction for any other offense. 10 14 Sec. 20. Section 523B.12, Code 1997, is amended by adding 10 15 the following new subsection: 10 16 NEW SUBSECTION. 4. MISREPRESENTATIONS, OMISSIONS, AND 10 17 MISLEADING CONDUCT. It is unlawful for a business opportunity 10 18 seller to do any of the following: 10 19 a. Misrepresent, by failure to disclose or otherwise, the 10 20 known required total investment for such business opportunity. 10 21 b. Misrepresent or fail to disclose efforts to sell or 10 22 establish more business opportunities than it is reasonable to 10 23 expect the market or market area for the particular business 10 24 opportunity to sustain. 10 25 c. Misrepresent the quantity or the quality of the 10 26 products to be sold or distributed through the business 10 27 opportunity. 10 28 d. Misrepresent the training and management assistance 10 29 available to the business opportunity purchaser. 10 30 e. Misrepresent the amount of profits, net or gross, which 10 31 the business opportunity purchaser can expect from the 10 32 operation of the business opportunity. 10 33 f. Misrepresent, by failure to disclose or otherwise, the 10 34 termination, transfer, or renewal provision of a business 10 35 opportunity agreement. 11 1 g. Falsely claim or imply that a primary marketer or 11 2 trademark of products or services sponsors or participates 11 3 directly or indirectly in the business opportunity. 11 4 h. Assign a so-called exclusive territory encompassing the 11 5 same area to more than one business opportunity purchaser. 11 6 i. Provide vending locations for which written 11 7 authorizations have not been granted by the property owners or 11 8 lessees. 11 9 j. Provide merchandise, machines, or displays of a brand 11 10 or kind substantially different from or inferior to those 11 11 promised by the business opportunity seller. 11 12 k. Fail to provide the purchaser a written contract. 11 13 l. Misrepresent the ability of a person or entity 11 14 providing services to provide locations or assist the 11 15 purchaser in finding locations expected to have a positive 11 16 impact on the success of the business opportunity. 11 17 m. Misrepresent or omit to state a material fact or create 11 18 a false or misleading impression in the sale of a business 11 19 opportunity. 11 20 Sec. 21. Section 523C.7, Code 1997, is amended by adding 11 21 the following new subsection: 11 22 NEW SUBSECTION. 5. A complete copy of the terms of the 11 23 residential service contract shall be delivered to the 11 24 prospective service contract holder at or before the time that 11 25 the prospective service contract holder makes application for 11 26 the service contract. If there is no separate application 11 27 procedure, then a complete copy of the residential service 11 28 contract shall be delivered to the service contract holder at 11 29 or before the time the service contract holder becomes bound 11 30 under the contract. 11 31 Sec. 22. Section 523E.8, subsection 1, paragraph j, Code 11 32 1997, is amended to read as follows: 11 33 j. Include an explanation of regulatory oversight by the 11 34 insurance division in twelve point bold type, in substantially 11 35 the following language: 12 1 THIS CONTRACTMUST BE REPORTED TO THE IOWA INSURANCE12 2DIVISION BY THE FIRST DAY OF MARCH OF THE FOLLOWING YEARIS 12 3 SUBJECT TO REGULATIONS ADMINISTERED BY THE IOWA INSURANCE 12 4 DIVISION. YOU MAY CALL THE INSURANCE DIVISION AT (INSERT 12 5 TELEPHONE NUMBER)TO CONFIRM THAT YOUR CONTRACT HAS BEEN12 6REPORTED. WRITTEN INQUIRIES OR COMPLAINTS SHOULD BE MAILED TO 12 7 THE FOLLOWING ADDRESS:IOWA SECURITIES BUREAU(INSERT 12 8 ADDRESS). 12 9 Sec. 23. Section 523E.14, Code 1997, is amended to read as 12 10 follows: 12 11 523E.14 INJUNCTIONS. 12 12 The attorney general or the commissioner may apply to the 12 13 district court in any county of the state for an injunction to 12 14 restrain a person subject to this chapter and any agents, 12 15 employees, or associates of the person from engaging in 12 16 conduct or practices deemed contrary to the public interest. 12 17 In any proceeding for an injunction, the attorney general or 12 18 the commissioner may apply to the court for the issuance of a 12 19 subpoena to require the appearance of a defendant and the 12 20 defendant's agents and any documents, books, and records 12 21 germane to the hearing upon the petition for an injunction. 12 22 Upon proof of any of the offenses described in the petition 12 23 for injunction the court may grant the injunction. The 12 24 attorney general or the commissioner shall not be required to 12 25 post a bond. 12 26 Sec. 24. Section 523I.6, subsection 1, paragraph e, Code 12 27 1997, is amended to read as follows: 12 28 e. The nonexclusive preneed and at-need sale ofmonuments,12 29memorials, markers, burial vaults, urns, flower vases, floral12 30arrangements, and otherthe following: 12 31 (1) Monuments. 12 32 (2) Memorials. 12 33 (3) Markers. 12 34 (4) Installation of monuments, memorials, or markers. 12 35 (5) Burial vaults. 13 1 (6) Urns. 13 2 (7) Flower vases. 13 3 (8) Floral arrangements. 13 4 (9) Other similar merchandise for use within the cemetery. 13 5 Sec. 25. Section 566A.1, subsection 1, Code 1997, is 13 6 amended to read as follows: 13 7 1. A corporation or other form of organization engaging in 13 8 the business of the ownership, maintenance, or operation of a 13 9 cemetery, which provides lots or other interment space for the 13 10 remains of human bodies, is subject to this chapter. However, 13 11 a religious cemetery is subject only to subsection 2, and 13 12 sections 566A.2A and 566A.2B.A cemetery with average retail13 13sales equal to or less than five thousand dollars for the13 14previous three calendar years is exempt from section 566A.2C.13 15 Political subdivisions of the state which are counties are 13 16 exempt from this chapter. Political subdivisions of the state 13 17 other than counties are subject only to sections 566A.1A, 13 18 566A.2A, 566A.2B, and 566A.2D. 13 19 Sec. 26. Section 566A.2C, subsection 2, Code 1997, is 13 20 amended to read as follows: 13 21 2. The commissioner shall permit the filing of a unified 13 22 annual report in the event of commonly owned or affiliated 13 23 cemeteries.A political subdivision subject to this section13 24may commingle perpetual care funds for purposes of investment13 25and administration and may file a single report, if each13 26cemetery is appropriately identified and separate records are13 27maintained for each cemetery.13 28 Sec. 27. Section 566A.2C, Code 1997, is amended by adding 13 29 the following new subsection: 13 30 NEW SUBSECTION. 5. This section does not apply to a 13 31 cemetery with average retail sales equal to or less than five 13 32 thousand dollars for the previous three calendar years. 13 33 Sec. 28. Section 566A.3, unnumbered paragraph 3, Code 13 34 1997, is amended to read as follows: 13 35 The initial perpetual care fund established for any 14 1 cemetery shall remain in an irrevocable trust fund until such 14 2 time as this fund has reachedfiftyone hundred thousand 14 3 dollars, whenitthe initial twenty-five thousand dollar 14 4 deposit may be withdrawnat the rate of one thousand dollars14 5from the original twenty-five thousand dollars for each14 6additional three thousand dollars added to the fund, until all14 7of the twenty-five thousand dollars has been withdrawn. An 14 8 affidavit shall be filed with the commissioner providing prior 14 9 notice of the withdrawal and attesting that the money has not 14 10 previously been withdrawn. Except as approved by the 14 11 commissioner upon sufficient proof that the money has not 14 12 previously been withdrawn, the withdrawal must take place 14 13 within one year after the fund reaches one hundred thousand 14 14 dollars. 14 15 Sec. 29. Section 566A.12, subsection 4, paragraph b, Code 14 16 1997, is amended to read as follows: 14 17 b. The commissioner or the attorney general may apply to 14 18 the district court in any county of the state for a 14 19 receivership. Upon proof of any of the grounds for a 14 20 receivership described in this section the court may grant a 14 21 receivership. 14 22 Sec. 30. Section 566A.12, subsection 5, Code 1997, is 14 23 amended to read as follows: 14 24 5. INJUNCTIONS. The commissioner or the attorney general 14 25 may apply to the district court for an injunction to restrain 14 26 any cemetery subject to this chapter and any agents, 14 27 employees, trustees, or associates of the cemetery from 14 28 engaging in conduct or practices deemed a violation of this 14 29 chapter or rules adopted pursuant to this chapter. Upon proof 14 30 of any violation of this chapter described in the petition for 14 31 injunction, the court may grant the injunction. The 14 32 commissioner or the attorney general shall not be required to 14 33 post a bond. Failure to obey a court order under this 14 34 subsection constitutes contempt of court. 14 35 Sec. 31. Section 523B.4, Code 1997, is repealed. 15 1 15 2 15 3 15 4 MARY E. KRAMER 15 5 President of the Senate 15 6 15 7 15 8 15 9 RON J. CORBETT 15 10 Speaker of the House 15 11 15 12 I hereby certify that this bill originated in the Senate and 15 13 is known as Senate File 2316, Seventy-seventh General Assembly. 15 14 15 15 15 16 15 17 MARY PAT GUNDERSON 15 18 Secretary of the Senate 15 19 Approved , 1998 15 20 15 21 15 22 15 23 TERRY E. BRANSTAD 15 24 Governor
Text: SF02315 Text: SF02317 Text: SF02300 - SF02399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
© 1998 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Mon Jun 29 13:40:04 CDT 1998
URL: /DOCS/GA/77GA/Legislation/SF/02300/SF02316/980416.html
jhf