Iowa Code 533C.604 – Report of certain events
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Terms Used In Iowa Code 533C.604
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Conviction: A judgement of guilt against a criminal defendant.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
533C.604 Report of certain events.
1. A licensee shall submit a nonrefundable fee of one thousand dollars with the request
and file a report with the superintendent within one business day after the licensee knows or has reason to know of the occurrence of any of the following events:
a. The filing of a petition by or against the licensee under the federal bankruptcy code, 11
U.S.C. §101 – 110, as amended, for bankruptcy or reorganization.
b. The filing of a petition by or against the licensee for receivership.
c. The filing of a petition or commencement of any other judicial or administrative proceeding for its dissolution or reorganization.
d. The filing of a petition or the making of a general assignment for the benefit of its creditors.
e. The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed.
2. A licensee shall file a report with the superintendent within three business days after the licensee has reason to know of the occurrence of a felony charge or conviction of the licensee, a key individual or person in control of the licensee, or an authorized delegate.
2023 Acts, ch 83, §24
NEW section
1. A licensee shall submit a nonrefundable fee of one thousand dollars with the request
and file a report with the superintendent within one business day after the licensee knows or has reason to know of the occurrence of any of the following events:
a. The filing of a petition by or against the licensee under the federal bankruptcy code, 11
U.S.C. §101 – 110, as amended, for bankruptcy or reorganization.
b. The filing of a petition by or against the licensee for receivership.
c. The filing of a petition or commencement of any other judicial or administrative proceeding for its dissolution or reorganization.
d. The filing of a petition or the making of a general assignment for the benefit of its creditors.
e. The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed.
2. A licensee shall file a report with the superintendent within three business days after the licensee has reason to know of the occurrence of a felony charge or conviction of the licensee, a key individual or person in control of the licensee, or an authorized delegate.
2023 Acts, ch 83, §24
NEW section