Iowa § 515.37 Subsidiary companies

Iowa Statutes

§ 515.37 — Subsidiary companies

Iowa § 515.37

Title XIIICOMMERCE

Ch. 515INSURANCE OTHER THAN LIFE

This text of Iowa § 515.37 (Subsidiary companies) 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 § 515.37 (2026).

Text

Any insurance company incorporated in this state may organize, or acquire by purchase, in whole or in part, subsidiary insurance and investment companies in which it owns not less than fifty-one percent of the common stock, and, subject to the approval of the insurance commissioner and provided that no company invest an amount in excess of thirty percent of its capital and surplus in the stock of such subsidiary companies, may:

1.Invest funds from surplus for each purpose.

2.Make loans to such subsidiaries.

3.Permit all or part of its officers and directors to serve as officers or directors of any such subsidiary companies.

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Any insurance company incorporated in this state may organize, or acquire by purchase,
in whole or in part, subsidiary insurance and investment companies in which it owns not less
than fifty-one percent of the common stock, and, subject to the approval of the insurance
commissioner and provided that no company invest an amount in excess of thirty percent of
its capital and surplus in the stock of such subsidiary companies, may:
1. Invest funds from surplus for each purpose.
2. Make loans to such subsidiaries.
3. Permit all or part of its officers and directors to serve as officers or directors of any such
subsidiary companies.