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Current as of January 01, 2024 | Updated by FindLaw Staff
1. A health organization receiving a notification pursuant to subsection 2 is entitled to a confidential hearing before the insurance division, at which the health organization may challenge a determination or action by the commissioner. Upon receipt of the health organization's request for a hearing, the commissioner shall set a date for the hearing, which shall be not less than ten and not more than thirty days after the date of the health organization's request.
2. A health organization shall notify the commissioner of the health organization's request for a confidential hearing within five days after the occurrence of any of the following:
a. Notification to a health organization by the commissioner of an adjusted risk-based capital report.
b. Notification to a health organization by the commissioner of both of the following:
(1) That the health organization's risk-based capital plan or revised risk-based capital plan is unsatisfactory.
(2) That the notification pursuant to this paragraph constitutes a regulatory-action-level event with respect to the health organization.
c. Notification to a health organization by the commissioner that the health organization has failed to adhere to its risk-based capital plan or revised risk-based capital plan and that the failure has a substantial adverse effect on the ability of the health organization to eliminate the company-action-level event in accordance with its risk-based capital plan or revised risk-based capital plan.
d. Notification to a health organization by the commissioner of a corrective order with respect to the health organization.
Cite this article: FindLaw.com - Iowa Code Title XIII. Commerce [Chs. 505-554D] § 521F.8. Confidential hearings - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-xiii-commerce-chs-505-554d/ia-code-sect-521f-8/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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