House Journal: Page 1330: Monday, April 23, 2001
39 and the date the purchase agreement was made.
40 g. A summary of any purchase agreements converted
41 from trust-funded benefits to insurance-funded or
42 annuity benefits during the preceding year which shall
43 include, as of the conversion date, the following
44 information, as well as aggregated totals for each of
45 the following categories of information, if
46 appropriate:
47 (1) Insured's name.
48 (2) Insured's policy number.
49 (3) Original prepaid purchase agreement amount.
50 (4) Amount paid in.
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1 (5) Unpaid balance of the prepaid purchase
2 agreement.
3 (6) Unpaid balance of the purchase agreement.
4 (7) Amount retained by the establishment.
5 (8) Amount applied to the purchase of the
6 insurance policy or annuity.
7 (9) Initial cash surrender value and initial death
8 benefit under the insurance policy.
9 The establishment shall include a notarized
10 statement attesting that the insurance policies or
11 annuities have been issued and funded on behalf of the
12 purchasers listed in the summary and that all notices
13 required under this section have been given.
14 h. A summary of any purchase agreements converted
15 from trust-funded benefits to a surety bond during the
16 preceding year which shall include, as of the
17 conversion date, the following information, as well as
18 aggregated totals for each of the following categories
19 of information, if appropriate:
20 (1) Name of the purchaser and beneficiary.
21 (2) Original prepaid purchase agreement amount.
22 (3) Amount paid in.
23 (4) Unpaid balance of the prepaid purchase
24 agreement.
25 (5) Unpaid balance of the purchase agreement.
26 (6) Amount retained by the establishment.
27 (7) Amount applied to the purchase of the surety
28 bond.
29 (8) A description of the surety bond and the
30 applicable amount of coverage.
31 i. Any other information the commissioner deems
32 necessary for the administration of this chapter.
33 2. A person holding multiple establishment permits
34 may elect to file only one annual report after noting
35 all establishments on the report.
36 3. An establishment shall make a good faith effort
37 to complete the annual report. The establishment
© 2001 Cornell College and
League of Women Voters of Iowa
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