Iowa Admin. Code r. 191-77.11 - Suspension or revocation of certificate

The commissioner may sanction a MEWA or suspend or revoke any certificate issued to a MEWA upon any of the following grounds:

1. Failure to comply with any provision of these rules or any applicable provision of the Iowa Code;

2. Failure to comply with any lawful order of the commissioner;

3. Failure to promptly pay lawful benefit claims;

4. Committing an unfair or deceptive act or practice;

5. Deterioration of financial condition adversely affecting the MEWA's ability to pay claims;

6. A finding that the application or any necessary forms that have been filed with the division contain fraudulent information or omissions;

7. A finding that the MEWA or its administrator has misappropriated, converted, illegally withheld, or refused to pay over upon proper demand any moneys that belong to a member, a participant, or a person otherwise entitled thereto and that have been entrusted to the MEWA or its administrator in its fiduciary capacity;

8. Rescinded lAB 9/19/01, effective 10/24/01.

This rule is intended to implement Iowa Code section 507A.4.

Notes

Iowa Admin. Code r. 191-77.11