523C.9  Suspension or revocation of license.
  1.  In addition to the license revocation provisions of section 523C.5, the commissioner may suspend or revoke or refuse to renew the license of a service company for any of the following grounds:
  a.  The service company violated a lawful order of the commissioner or any provision of this chapter.
  b.  The service company failed to pay any final judgment rendered against it in this state within sixty days after the judgment became final.
  c.  The service company has without just cause refused to perform or negligently or incompetently performed services required to be performed under its residential service contracts and the refusal, or negligent or incompetent performance has occurred with such frequency, as the commissioner determines, as to indicate the general business practices of the service company.
  d.  The service company violated section 523C.13.
  e.  The service company failed to maintain the net worth required by section 523C.6.
  f.  The service company failed to maintain the reserve account required by section 523C.11.
  g.  The service company failed to maintain its corporate certificate of good standing with the secretary of state.
  2.  If the license of a service company is terminated under section 523C.5 because of failure to maintain bond, the commissioner shall give written notice of termination to the service company. The notice shall include the effective date of the termination.
83 Acts, ch 87, §10; 2006 Acts, ch 1010, §146