Iowa § 512B.14 Reinsurance

Iowa Statutes

§ 512B.14 — Reinsurance

Iowa § 512B.14

Title XIIICOMMERCE

Ch. 512BFRATERNAL BENEFIT SOCIETIES

This text of Iowa § 512B.14 (Reinsurance) 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 § 512B.14 (2026).

Text

1.A domestic society may, by a reinsurance agreement, cede any individual risk or risks inwholeorinparttoaninsurer, otherthananotherfraternalbenefitsociety, havingthepower to make such reinsurance agreements and authorized to do business in this state, or if not so authorized, one which is approved by the commissioner; but a society shall not reinsure substantially all of its insurance in force without the written permission of the commissioner. It may take credit for the reserves on ceded risks to the extent reinsured, but credit shall not be allowed as an admitted asset or as a deduction from liability, to a ceding society for reinsurance made, ceded, renewed, or otherwise becoming effective after January 1, 1991, unless the reinsurance is payable by the assuming insurer on the basis of

Free access — add to your briefcase to read the full text and ask questions with AI

1. A domestic society may, by a reinsurance agreement, cede any individual risk or risks
inwholeorinparttoaninsurer, otherthananotherfraternalbenefitsociety, havingthepower
to make such reinsurance agreements and authorized to do business in this state, or if not
so authorized, one which is approved by the commissioner; but a society shall not reinsure
substantially all of its insurance in force without the written permission of the commissioner.
It may take credit for the reserves on ceded risks to the extent reinsured, but credit shall
not be allowed as an admitted asset or as a deduction from liability, to a ceding society for
reinsurance made, ceded, renewed, or otherwise becoming effective after January 1, 1991,
unless the reinsurance is payable by the assuming insurer on the basis of the liability of the
ceding society under the contract or contracts reinsured without diminution because of the
insolvency of the ceding society.
2. Notwithstanding the limitation in subsection 1, a society may reinsure the risks of
another society in a consolidation or merger approved by the commissioner under section
512B.15.