House
File
2522
-
Introduced
HOUSE
FILE
2522
BY
COMMITTEE
ON
LOCAL
GOVERNMENT
(SUCCESSOR
TO
HSB
660)
A
BILL
FOR
An
Act
relating
to
the
required
beneficiary
and
use
of
a
public
1
officer
insurance
policy,
and
including
effective
date
2
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
6096HV
(2)
91
ss/ns
H.F.
2522
Section
1.
Section
64.3,
subsection
4,
Code
2026,
is
amended
1
by
striking
the
subsection.
2
Sec.
2.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
3
importance,
takes
effect
upon
enactment.
4
EXPLANATION
5
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
6
the
explanation’s
substance
by
the
members
of
the
general
assembly.
7
Under
current
law,
certain
public
officers
are
required
to
8
obtain
a
bond
that
runs
to
the
state
for
the
use
and
benefit
9
of
any
corporation,
public
or
private,
or
person
injured
or
10
sustaining
loss,
with
a
right
of
action
in
the
name
of
the
11
state
for
its
or
the
corporation’s
or
person’s
use
(Code
12
section
64.18).
In
2024,
the
general
assembly
enacted
a
13
provision
allowing
public
officers
to
obtain
an
insurance
14
policy
in
lieu
of
such
a
bond.
The
state
is
required
to
be
the
15
beneficiary
of
the
insurance
policy
and
the
policy
is
required
16
to
be
for
the
use
and
benefit
of
any
corporation,
public
or
17
private,
or
person
injured
or
sustaining
loss,
with
a
right
of
18
action
in
the
name
of
the
state
for
its
or
the
corporation’s
19
or
person’s
use
(Code
section
64.3(4)).
This
bill
strikes
20
these
requirements
for
an
insurance
policy
obtained
in
lieu
of
21
a
bond.
22
The
bill
takes
effect
upon
enactment.
23
-1-
LSB
6096HV
(2)
91
ss/ns
1/
1