Iowa § 506.1 Rules — limitations

Iowa Statutes

§ 506.1 — Rules — limitations

Iowa § 506.1

Title XIIICOMMERCE

Ch. 506DOMESTIC INSURANCE COMPANIES

This text of Iowa § 506.1 (Rules — limitations) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 506.1 (2026).

Text

The commissioner of insurance shall promulgate such reasonable rules and regulations as the commissioner deems necessary to assure the proper operation of newly organized insurance companies but in no event shall the commissioner:

1.Require that more than twenty percent of the original capital and surplus of a stock corporation subject to the provisions of this chapter be invested by the organizers; or

2.Restrict the alienation of securities issued to organizers for a period of more than:

a.Five years, or

b.Until the operation of the insurance company produces earned surplus for two successive years.

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The commissioner of insurance shall promulgate such reasonable rules and regulations
as the commissioner deems necessary to assure the proper operation of newly organized
insurance companies but in no event shall the commissioner:
1. Require that more than twenty percent of the original capital and surplus of a stock
corporation subject to the provisions of this chapter be invested by the organizers; or
2. Restrict the alienation of securities issued to organizers for a period of more than:
a. Five years, or
b. Until the operation of the insurance company produces earned surplus for two
successive years.