507C.6 - COOPERATION OF OFFICERS, OWNERS, AND EMPLOYEES -- PENALTY. - Iowa Statutes

507C.6 COOPERATION OF OFFICERS, OWNERS, AND EMPLOYEES -- PENALTY. 1. An officer, manager, director, trustee, owner, employee, or agent of an insurer, or any other person with authority over or in charge of any segment of the insurer's affairs, shall cooperate with the commissioner in any proceeding under this chapter or any investigation preliminary to the proceeding. The term "person" as used in this section, shall include any person who exercises control directly or indirectly over activities of the insurer through any holding company or other affiliate of the insurer. "To cooperate" shall include, but shall not be limited to, the following: a. To reply promptly in writing to any inquiry from the commissioner requesting a reply. b. To make available to the commissioner any books, accounts, documents, or other records, information, or property of or pertaining to the insurer and in the person's possession, custody, or control. 2. A person shall not obstruct or interfere with the commissioner in the conduct of a delinquency proceeding or an investigation preliminary or incidental to a delinquency proceeding. 3. This section does not abridge otherwise existing legal rights, including the right to resist a petition for liquidation, other delinquency proceedings, or other orders. 4. It shall be unlawful for a person as defined in subsection 1 to fail to cooperate with the commissioner, or to obstruct or interfere with the commissioner in the conduct of a delinquency proceeding or an investigation preliminary or incidental to a delinquency proceeding, or to violate a valid order of the commissioner.          Section History: Recent Form 84 Acts, ch 1175, § 6; 90 Acts, ch 1234, §4; 2004 Acts, ch 1110, §25