Iowa § 519.7 Reinsurance reserve

Iowa Statutes

§ 519.7 — Reinsurance reserve

Iowa § 519.7

Title XIIICOMMERCE

Ch. 519LIABILITY INSURANCE — CERTAIN PROFESSIONS

This text of Iowa § 519.7 (Reinsurance reserve) 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 § 519.7 (2026).

Text

Such mutual insurance corporations shall, annually, set aside and maintain as a
reinsurance reserve, an amount equal to ten percent of the receipts from assessments, or
premium payments, during the year until the total amount thus accumulated shall equal
forty percent, but not to exceed fifty percent of the amount of the annual assessment, or
premium payment, at the rate charged for such insurance on all policies in force. The
reserve thus accumulated may be used for the payment of losses and expenses, and when so
used shall be restored and maintained in like manner as originally accumulated.

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Such mutual insurance corporations shall, annually, set aside and maintain as a
reinsurance reserve, an amount equal to ten percent of the receipts from assessments, or
premium payments, during the year until the total amount thus accumulated shall equal
forty percent, but not to exceed fifty percent of the amount of the annual assessment, or
premium payment, at the rate charged for such insurance on all policies in force. The
reserve thus accumulated may be used for the payment of losses and expenses, and when so
used shall be restored and maintained in like manner as originally accumulated.