Iowa § 508B.4 Eligible policyholders participation

Iowa Statutes

§ 508B.4 — Eligible policyholders participation

Iowa § 508B.4

Title XIIICOMMERCE

Ch. 508BCONVERSION FROM MUTUAL COMPANY TO STOCK COMPANY

This text of Iowa § 508B.4 (Eligible policyholders participation) 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 § 508B.4 (2026).

Text

The policyholders who are entitled to notice of and to vote upon approval of a plan of
conversion and entitled to notice of a public hearing are the policyholders whose policies or
contracts are in force on the date of adoption of the plan of conversion. Each policyholder
whose policy has been in force for at least one year prior to the date is entitled to the
consideration, if any, provided for the policyholder in the plan based on the policyholder’s
membership interest determined pursuant to this chapter, but only if the policyholder’s
membership interest arose from a policy or contract in force on the effective date of the
conversion and such membership interest has been held continuously for at least one year
prior to the date of adoption of the plan. For this purpose, any changes in s

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The policyholders who are entitled to notice of and to vote upon approval of a plan of
conversion and entitled to notice of a public hearing are the policyholders whose policies or
contracts are in force on the date of adoption of the plan of conversion. Each policyholder
whose policy has been in force for at least one year prior to the date is entitled to the
consideration, if any, provided for the policyholder in the plan based on the policyholder’s
membership interest determined pursuant to this chapter, but only if the policyholder’s
membership interest arose from a policy or contract in force on the effective date of the
conversion and such membership interest has been held continuously for at least one year
prior to the date of adoption of the plan. For this purpose, any changes in status of, or
premiums in excess of, those required on the policies or contracts occurring or made after
the date one year prior to the date of adoption of the plan shall be disregarded.