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Senate File 232 - IntroducedA Bill ForAn Act 1relating to notifications made by the commissioner of
2insurance of the potential need for a receivership for
3certain preneed sellers and cemeteries.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 523A.811, Code 2017, is amended by adding
2the following new subsection:
3 NEW SUBSECTION. 01. The commissioner may notify the
4attorney general of the potential need for establishment of a
5receivership if a receivership is requested or consented to by
6a seller subject to this chapter.
7 Sec. 2. Section 523I.212, Code 2017, is amended by adding
8the following new subsection:
9 NEW SUBSECTION. 01. The commissioner may notify the
10attorney general of the potential need for establishment of a
11receivership if a receivership is requested or consented to by
12a cemetery subject to this chapter.
13EXPLANATION
14The inclusion of this explanation does not constitute agreement with
15the explanation’s substance by the members of the general assembly.
16This bill allows the commissioner of insurance to notify
17the attorney general of the potential need for establishment
18of a receivership for a preneed seller of cemetery and
19funeral merchandise or funeral services who is subject to Code
20chapter 523A, if the preneed seller requests or consents to a
21receivership.
22Similarly, the bill allows the commissioner to notify the
23attorney general of the potential need for establishment of a
24receivership for a cemetery subject to Code chapter 523I if the
25cemetery requests or consents to a receivership.
26As required under current law, the commissioner must
27continue to make such notifications if the commissioner finds
28that a preneed seller or cemetery meets one or more specified
29conditions.
-1-av/nh/rn
2insurance of the potential need for a receivership for
3certain preneed sellers and cemeteries.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 523A.811, Code 2017, is amended by adding
2the following new subsection:
3 NEW SUBSECTION. 01. The commissioner may notify the
4attorney general of the potential need for establishment of a
5receivership if a receivership is requested or consented to by
6a seller subject to this chapter.
7 Sec. 2. Section 523I.212, Code 2017, is amended by adding
8the following new subsection:
9 NEW SUBSECTION. 01. The commissioner may notify the
10attorney general of the potential need for establishment of a
11receivership if a receivership is requested or consented to by
12a cemetery subject to this chapter.
13EXPLANATION
14The inclusion of this explanation does not constitute agreement with
15the explanation’s substance by the members of the general assembly.
16This bill allows the commissioner of insurance to notify
17the attorney general of the potential need for establishment
18of a receivership for a preneed seller of cemetery and
19funeral merchandise or funeral services who is subject to Code
20chapter 523A, if the preneed seller requests or consents to a
21receivership.
22Similarly, the bill allows the commissioner to notify the
23attorney general of the potential need for establishment of a
24receivership for a cemetery subject to Code chapter 523I if the
25cemetery requests or consents to a receivership.
26As required under current law, the commissioner must
27continue to make such notifications if the commissioner finds
28that a preneed seller or cemetery meets one or more specified
29conditions.
-1-av/nh/rn