R590-170-8. Insurer Responsibility

(1) Insurers and their managing general agents shall provide a written report to the commissioner within 15 days if: (a) a licensee fails to pay an account payable within 30 days of the due date; or (b) a licensee issues a check that is not honored when presented to the bank or is returned because of insufficient funds. (2) Subsection (1)(a) may not apply when a legitimate dispute exists regarding the account payable if: (a) the licensee has properly notified the insurer of any disputed items; and (b) the licensee has provided documentation to the insurer supporting the licensee's position.