Iowa § 521I.3 Plan of division — dividing insurer to survive division

Iowa Statutes

§ 521I.3 — Plan of division — dividing insurer to survive division

Iowa § 521I.3

Title XIIICOMMERCE

Ch. 521IDIVISION OF DOMESTIC STOCK INSURERS

This text of Iowa § 521I.3 (Plan of division — dividing insurer to survive division) 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 § 521I.3 (2026).

Text

If a dividing insurer will survive a division, the plan of division shall include, in addition to the requirements pursuant to section 521I.2, all of the following:

1.Allproposedamendmentstothedividinginsurer’sarticlesofincorporationandbylaws.

2.If the dividing insurer intends to cancel some but not all shares in the dividing insurer, the manner in which the dividing insurer intends to cancel such shares.

3.If the dividing insurer intends to convert some but not all shares in the dividing insurer into securities, obligations, money, other property, rights to acquire shares or securities, or any combination thereof, a statement disclosing the manner in which the dividing insurer intends to convert such shares.

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If a dividing insurer will survive a division, the plan of division shall include, in addition to
the requirements pursuant to section 521I.2, all of the following:
1. Allproposedamendmentstothedividinginsurer’sarticlesofincorporationandbylaws.
2. If the dividing insurer intends to cancel some but not all shares in the dividing insurer,
the manner in which the dividing insurer intends to cancel such shares.
3. If the dividing insurer intends to convert some but not all shares in the dividing insurer
into securities, obligations, money, other property, rights to acquire shares or securities, or
any combination thereof, a statement disclosing the manner in which the dividing insurer
intends to convert such shares.