House Journal: Page 1380: Monday, April 23, 2001
Page 59
1 apply to the court for discharge. The court may grant
2 the discharge and make any other orders, including an
3 order to transfer remaining funds that are
4 uneconomical to distribute, as appropriate.
5 b. Any other person may apply to the court at any
6 time for an order under paragraph "a". If the
7 application is denied, the applicant shall pay the
8 costs and expenses of the liquidator in resisting the
9 application, including a reasonable attorney fee.
10 23. REOPENING LIQUIDATION. At any time after the
11 liquidation proceeding has been terminated and the
12 liquidator discharged, the commissioner or other
13 interested party may petition the court to reopen the
14 proceedings for good cause including the discovery of
15 additional assets. The court shall order the
16 proceeding reopened if it is satisfied that there is
17 justification for the reopening.
18 24. DISPOSITION OF RECORDS DURING AND AFTER
19 TERMINATION OF LIQUIDATION. If it appears to the
20 commissioner that the records of an establishment in
21 the process of liquidation or completely liquidated
22 are no longer useful, the commissioner may recommend
23 to the court and the court shall direct what records
24 shall be retained for future reference and what
25 records shall be destroyed.
26 25. EXTERNAL AUDIT OF LIQUIDATOR'S BOOKS. The
27 court may order audits to be made of the books of the
28 commissioner relating to a liquidation established
29 under this chapter, and a report of each audit shall
30 be filed with the commissioner and with the court.
31 The books, records, and other documents of the
32 liquidation shall be made available to the auditor at
33 any time without notice. The expense of an audit
34 shall be considered a cost of administration of the
35 liquidation.
36 Sec. . Chapters 523A and 523E, Code 2001, are
37 repealed."
38 2. Title page, line 1, by inserting after the
39 word "Act" the following: "concerning regulated
40 industries under the jurisdiction of the commissioner
41 of insurance,".
42 3. Title page, line 7, by inserting after the
43 word "requirements" the following: ", and relating to
44 cemetery and funeral merchandise and funeral services,
45 establishing permit and purchase agreement
46 requirements, establishing and appropriating fees, and
47 providing administration, enforcement, and liquidation
48 procedures, and penalties".
49 4. By renumbering as necessary.
© 2001 Cornell College and
League of Women Voters of Iowa
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