Section 523A.502A. Sales agent annual reporting requirements.

  1.  A sales agent shall file with the commissioner not later than April 1 of each year an annual report on a form prescribed by the commissioner describing each purchase agreement sold by the sales agent during the year. An annual report must be filed whether or not sales were made during the year and even if the sales agent is no longer an agent of a preneed seller or licensed by the commissioner.

  2.  All records maintained by the commissioner under this section shall be confidential pursuant to section 22.7, subsection 58, and shall not be made available for inspection or copying except upon the approval of the commissioner or the attorney general, or except when sought by the sales agent to whom the records relate. Such records shall be privileged and confidential in any judicial or administrative proceeding except any of the following:

  a.  An action commenced by the commissioner.

  b.  An administrative proceeding brought by the insurance division.

  c.  An action or proceeding which arises out of the criminal provisions of the laws of this state or of the United States.

  d.  An action brought by the insurance division or the attorney general to recover moneys for embezzlement, misappropriation, or misuse of trust funds.

2007 Acts, ch 175, §18

; 2009 Acts, ch 102, §2, 3

; 2009 Acts, ch 181, §94

; 2010 Acts, ch 1121, §26

; 2015 Acts, ch 128, §40, 41, 50, 51

2015 amendments take effect July 2, 2015, and apply retroactively to July 1, 2015; 2015 Acts, ch 128, §50, 51

Subsections 1 and 2 amended

Subsections 3 and 4 stricken