This bill amends Section 502.511, subsection 2 of the Code 2026, specifically regarding the parties that can be named as respondents in proceedings to expunge information from the investment adviser registration depository. The current law allows either the commissioner of insurance or the investment adviser that reported the information to be named as respondents.

Under the new provisions, the commissioner of insurance is required to be named as a respondent in these proceedings, while the investment adviser that reported the information may also be named as a respondent. This change clarifies the roles of the commissioner and the investment adviser in the expungement process, ensuring that the commissioner is always included in such proceedings.

Statutes affected:
Introduced: 502.511