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Terms Used In Iowa Code 523C.22

  • Contract: A legal written agreement that becomes binding when signed.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
523C.22 Claim procedures.
A licensed service company shall promptly provide a written explanation to the service
contract holder, describing the reasons for denying a claim or for the offer of a compromise settlement, based on all relevant facts or legal requirements and referring to applicable provisions of the service contract.
94 Acts, ch 1031, §20; 2019 Acts, ch 142, §14, 19