§ 521.2 — Consolidation, merger, and reinsurance

Iowa § 521.2

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 521: CONSOLIDATION, MERGER, AND REINSURANCE

Text

1. One or more domestic mutual insurance companies organized under chapter 491 may
merge or consolidate with a domestic or foreign mutual insurance company as provided in
this chapter.
2. One or more domestic insurance companies organized under chapter 490 may merge
with a domestic or foreign insurance company as provided in chapter 490 with the approval
of the commission pursuant to this chapter.
3. The provisions of this chapter shall not be applicable to the merger or consolidation of
adomesticmutualcompanywithastockcompanypursuanttochapter508Borchapter515G.
4. A domestic insurance company shall not assume or reinsure the whole or any part of
the risks of any other company, except as provided in this chapter. However, this chapter
shall not be construed to prevent any company, as defined in section 521.1, from reinsuring
a fractional part of any risk.
5. Oneormoreforeignordomesticstockinsurancecompaniesmaymergeintoadomestic
mutual insurance company organized under chapter 491 as provided in this chapter.
6. One or more domestic health maintenance organizations or limited service

organizations formed under chapter 514B may merge into a domestic insurance company
organized under chapter 490 or chapter 491 as provided in this chapter.
7. Sections 491.102 through 491.105 shall not be applicable to a merger or consolidation
of a domestic mutual insurance company pursuant to this chapter.

Legislative History

[S13, §1821-n; C24, 27, 31, 35, 39, §9105; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §521.2]