1.
a. To aid in the detection and prevention of insurer insolvencies the board of directors, upon majority vote, may do either of the following:
- (1) Make recommendations to the commissioner for the detection and prevention of insurer insolvencies.
- (2) Respond to a request by the commissioner to discuss and make recommendations regarding the status of member insurers whose financial condition may be hazardous to policyholders or the public.
- b. At the conclusion of a domestic insurer insolvency, the board of directors may prepare a report based on the information available to the association on the history and causes of the insolvency. The report may be submitted to the commissioner.
- 2. Recommendations and reports made pursuant to subsection 1, paragraph “a”, subparagraph (2), are not public records under chapter 22.
[C71, 73, 75, 77, 79, 81, §515B.10] 86 Acts, ch 1184, §8
Referred to in §22.7(22), 515B.5