Iowa § 515C.2 Eligibility for insurance

Iowa Statutes

§ 515C.2 — Eligibility for insurance

Iowa § 515C.2

Title XIIICOMMERCE

Ch. 515CMORTGAGE GUARANTY INSURANCE

This text of Iowa § 515C.2 (Eligibility for insurance) 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 § 515C.2 (2026).

Text

Eligibility for mortgage guaranty insurers shall be as follows:

1.An insurer, in order to qualify for writing mortgage guaranty insurance, must have the same surplus to policyholders as that required of a multiple line company by section 515.8.

2.An insurer transacting any class of insurance other than mortgage guaranty insurance is not eligible for the issuance of a certificate of authority to transact mortgage guaranty insurance in this state, nor the renewal thereof.

3.A foreign or alien insurer writing mortgage guaranty insurance shall not be eligible for the issuance of a certificate of authority in Iowa unless it has demonstrated a satisfactory operating experience in its state of domicile.

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Eligibility for mortgage guaranty insurers shall be as follows:
1. An insurer, in order to qualify for writing mortgage guaranty insurance, must have the
same surplus to policyholders as that required of a multiple line company by section 515.8.
2. An insurer transacting any class of insurance other than mortgage guaranty insurance
is not eligible for the issuance of a certificate of authority to transact mortgage guaranty
insurance in this state, nor the renewal thereof.
3. A foreign or alien insurer writing mortgage guaranty insurance shall not be eligible for
the issuance of a certificate of authority in Iowa unless it has demonstrated a satisfactory
operating experience in its state of domicile.