Iowa Admin. Code r. 187-20.7

Current through Register Vol. 47, No. 5, September 4, 2024

Rule 187-20.7 - Notice of significant events

A licensee shall notify the superintendent immediately and in writing within ten days of the occurrence of any of the following events.

(1) The licensee or any of the licensee's officers, directors, principal stockholders, or affiliates file for bankruptcy protection or commence reorganization proceedings.

(2) A prosecuting authority files criminal charges against the licensee or any of the licensee's officers, directors, principal stockholders, or affiliates.

(3) Another state or jurisdiction institutes license denial, cease and desist, suspension or revocation procedures, or other formal or informal regulatory action against the licensee or any of the licensee's officers, directors, principal stockholders, or affiliates.

(4) The attorney general of Iowa, the Federal Trade Commission, or the enforcer of the consumer protection laws of any other jurisdiction initiates an action to enforce the consumer protection laws against the licensee or any of the licensee's officers, directors, principal stockholders, or affiliates.

Iowa Admin. Code r. 187-20.7

Adopted by IAB October 10, 2018/Volume XLI, Number 8, effective 11/14/2018