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For immediate release - Wednesday, April 7, 2004. Contact Bob Brammer - 515-281-6699 |
IA Sup. Ct. Upholds Attorney General & Insurance Div.
Action in COCOTs Matter
DES MOINES. The Iowa Insurance Division and the Iowa Attorney General scored a major victory as the Iowa Supreme Court upheld the favorable judgment in their joint civil action against an insurance producer and salesperson of unregistered securities.
The agent, Edwin Pace, one of several the Division pursued for their roles in a case involving Customer Owned Coin Operated Telephones (COCOTs), had appealed the decision of Iowa District Court Judge Gary Kimes. In recognition of the case made by the Attorney General's office, the Court rejected Pace's contention that the Division's actions exceeded its authority.
(Note: Release continues. Click here for copy of full news release, which was issued by the Iowa Insurance Division.)
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