Iowa § 515.72 Insolvency of company — procedure

Iowa Statutes

§ 515.72 — Insolvency of company — procedure

Iowa § 515.72

Title XIIICOMMERCE

Ch. 515INSURANCE OTHER THAN LIFE

This text of Iowa § 515.72 (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 § 515.72 (2026).

Text

In the event of insolvency or receivership of any such alien insurer the title to the cash or
securities so deposited shall vest in the commissioner of insurance for the use and benefit
of the policies issued by said insurer and outstanding in this state, and in such event the
commissioner shall be appointed receiver of said insurer by the district court, in and for
Polk county, with the right, subject to the court’s approval, to reinsure said policies in some
insurance company or association authorized to do business in this state, or to liquidate said
deposit for the sole benefit of the policies for which said deposit was made.

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In the event of insolvency or receivership of any such alien insurer the title to the cash or
securities so deposited shall vest in the commissioner of insurance for the use and benefit
of the policies issued by said insurer and outstanding in this state, and in such event the
commissioner shall be appointed receiver of said insurer by the district court, in and for
Polk county, with the right, subject to the court’s approval, to reinsure said policies in some
insurance company or association authorized to do business in this state, or to liquidate said
deposit for the sole benefit of the policies for which said deposit was made.