House Journal: Page 1247: Wednesday, April 5, 2000
17 may be subject to a civil penalty. The amount of the
18 civil penalty shall not be more than four hundred
19 dollars plus two dollars for each motor vehicle
20 service contract that the person executed prior to
21 satisfying the filing requirement. However, a person
22 who fails to file information regarding a change in
23 the provider's name or the termination of the
24 provider's business as required pursuant to section
25 321I.3 is subject to a civil penalty of not more than
26 five hundred dollars.
27 2. If the commissioner believes that grounds exist
28 for the criminal prosecution of persons subject to
29 this chapter a motor vehicle service contract provider
30 for violations of violating this chapter or any other
31 law of this state, the commissioner may forward to the
32 attorney general or the county attorney the grounds
33 for the belief, including all evidence in the
34 commissioner's possession, in order that the attorney
35 general or the county attorney may proceed with the
36 matter as for action deemed appropriate by the
37 attorney general or county attorney. At the request
38 of the attorney general, the county attorney shall
39 appear and prosecute the action when brought in the
40 county served by the county attorney.
41 3. a person who willfully and knowingly violates
42 this chapter or a rule adopted pursuant to this
43 chapter is, upon conviction, guilty of a class "D"
44 felony.
45 Sec. 14. Section 321I.9, Code 1999, is repealed.
46 Sec. 15. DIRECTIONS TO THE CODE EDITOR. The Code
47 editor is directed to transfer chapter 321I to or near
48 chapter 523J, and correct internal references as
49 necessary.
50 DIVISION II
Page 6
1 IOWA UNIFORM SECURITIES ACT
2 Sec. 16. Section 502.304, subsection 1, unnumbered
3 paragraph 1, Code Supplement 1999, is amended to read
4 as follows:
5 The administrator may by order deny, suspend, or
6 revoke a registration or may censure, impose a civil
7 penalty upon, or bar an applicant, registrant, branch
8 manager, assistant branch manager, supervisor, or any
9 officer, director, partner, or person occupying a
10 similar status or performing similar functions for a
11 registrant. a person barred under this subsection may
12 be prohibited by the administrator from employment
13 with a registered broker-dealer or investment adviser.
14 The administrator may restrict the person barred from
15 engaging in any activity for which registration is
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