Iowa § 508.22 Insolvency of company — procedure

Iowa Statutes

§ 508.22 — Insolvency of company — procedure

Iowa § 508.22

Title XIIICOMMERCE

Ch. 508LIFE INSURANCE COMPANIES

This text of Iowa § 508.22 (Insolvency of company — procedure) 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 § 508.22 (2026).

Text

In the event of insolvency or receivership of such reinsuring company or its successors,
the commissioner shall be appointed by the district court of the state in and for Polk county
as receiver of said insolvent reinsuring company, and shall proceed, subject to the court’s
approval, to reinsure said policies in another life insurance company or to liquidate the
deposits for the sole benefit of the reinsured policies, and pending liquidation or reinsurance,
shall have the sole right to collect premiums due on such policies.

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In the event of insolvency or receivership of such reinsuring company or its successors,
the commissioner shall be appointed by the district court of the state in and for Polk county
as receiver of said insolvent reinsuring company, and shall proceed, subject to the court’s
approval, to reinsure said policies in another life insurance company or to liquidate the
deposits for the sole benefit of the reinsured policies, and pending liquidation or reinsurance,
shall have the sole right to collect premiums due on such policies.