This text of Iowa § 508A.3 (License requirements) 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.
No company shall deliver or issue for delivery within this state variable contracts unless
it is licensed or organized to do a life insurance or annuity business in this state, and the
commissioner of insurance is satisfied that its condition or method of operation in connection
with the issuance of such contracts will not render its operation hazardous to the public or its
policyholders in this state. In this connection, the commissioner of insurance shall consider
among other things:
1.The history and financial condition of the company;
2.The character, responsibility and fitness of the officers and directors of the company;
and
3.The law and regulation under which the company is authorized in the state of domicile
to issue variable contracts. The state of entry of an alien company sh
Free access — add to your briefcase to read the full text and ask questions with AI
No company shall deliver or issue for delivery within this state variable contracts unless
it is licensed or organized to do a life insurance or annuity business in this state, and the
commissioner of insurance is satisfied that its condition or method of operation in connection
with the issuance of such contracts will not render its operation hazardous to the public or its
policyholders in this state. In this connection, the commissioner of insurance shall consider
among other things:
1. The history and financial condition of the company;
2. The character, responsibility and fitness of the officers and directors of the company;
and
3. The law and regulation under which the company is authorized in the state of domicile
to issue variable contracts. The state of entry of an alien company shall be deemed its place
of domicile for that purpose. If the company is a subsidiary of an admitted life insurance
company, or affiliated with such company through common management or ownership, it
may be deemed by the commissioner of insurance to have met the provisions of this section
if either it or the parent or the affiliated company meets the requirements hereof.