Senate Study Bill 1162 SENATE FILE BY (PROPOSED COMMITTEE ON COMMERCE BILL BY CHAIRPERSON WARNSTADT) Passed Senate, Date Passed House, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act allowing the waiver of certain administrative penalties 2 for late annual reports concerning cemetery and funeral 3 merchandise, and funeral services, upon a showing of good 4 cause or financial hardship and providing an immediate 5 effective date. 6 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 7 TLSB 2110SC 83 8 av/rj/14 PAG LIN 1 1 Section 1. Section 523A.204, subsection 4, Code 2009, is 1 2 amended to read as follows: 1 3 4. The commissioner shall levy an administrative penalty 1 4 in the amount of five hundred dollars against a preneed seller 1 5 that fails to file the annual report when due, payable to the 1 6 state for deposit in the general fund of the state. However, 1 7 the commissioner may waive the administrative penalty upon a 1 8 showing of good cause or financial hardship. 1 9 Sec. 2. Section 523A.502A, subsection 3, Code 2009, is 1 10 amended to read as follows: 1 11 3. The commissioner shall levy an administrative penalty 1 12 in the amount of five hundred dollars against a sales agent 1 13 who fails to file an annual report when due, payable to the 1 14 state for deposit in the general fund. However, the 1 15 commissioner may waive the administrative penalty upon a 1 16 showing of good cause or financial hardship. 1 17 Sec. 3. EFFECTIVE DATE. This Act, being deemed of 1 18 immediate importance, takes effect upon enactment. 1 19 EXPLANATION 1 20 This bill allows the commissioner of insurance to waive 1 21 administrative penalties against sellers and sales agents of 1 22 cemetery and funeral merchandise and funeral services for 1 23 failure to timely file annual reports, upon a showing of good 1 24 cause or financial hardship. The bill is effective upon 1 25 enactment. 1 26 LSB 2110SC 83 1 27 av/rj/14