508D.9 - MISCELLANEOUS PROVISIONS.

        508D.9  MISCELLANEOUS PROVISIONS.         1.  Records shall be kept of all negotiations and meetings in      which the facility or the facility's representatives are involved to      discuss the activities of the facility in carrying out the powers and      duties set out under section 508D.6.  Records of negotiations or      meetings shall be made public pursuant to chapter 22 only upon the      termination of a liquidation, rehabilitation, or conservation      proceeding involving the impaired or insolvent insurance company      whose business was assumed by or assigned to the facility, upon the      termination of the impairment or insolvency of the insurance company,      or upon the order of a court of competent jurisdiction.  This      subsection does not limit the duty of the association to render a      report of its activities under subsection 2.         2.  The facility is subject to examination and regulation by the      oversight organization.  The board of directors shall submit to the      oversight organization by June 1 of each year a financial report for      the preceding calendar year and a report of its activities during the      preceding calendar year.  The financial report shall be in a form      approved by the oversight organization.         3.  The facility is exempt from payment of all fees and taxes      levied by this state or any of its subdivisions on insurance      companies, except taxes levied on the real property of the facility.         4.  A member guaranty association and its agents and employees,      the facility and its agents and employees, members of the board of      directors, and the oversight organization and its representatives are      not liable for any acts or omissions while acting within the scope of      their employment and in the performance of their powers and duties      under this chapter, except for acts or omissions not in good faith      which involve intentional misconduct or which involve a knowing      violation of law.  
         Section History: Recent Form
         94 Acts, ch 1011, §9