Iowa § 521J.12 Captive insurance — regulatory and supervision fund — appropriation

Iowa Statutes

§ 521J.12 — Captive insurance — regulatory and supervision fund — appropriation

Iowa § 521J.12

Title XIIICOMMERCE

Ch. 521JCAPTIVE COMPANIES

This text of Iowa § 521J.12 (Captive insurance — regulatory and supervision fund — appropriation) 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 § 521J.12 (2026).

Text

1.A captive insurance regulatory and supervision fund is established in the state treasury under the control of the division. The fund shall consist of all moneys deposited in the fund pursuant to this section and any other moneys appropriated to or deposited in the fund.

2.All fees, assessments, fines, and administrative penalties collected under this chapter and all premium tax receipts collected under section 432.1A shall be deposited in the fund.

3.Moneysinthefundareappropriatedtothedivisiontoadministerthischapter,including themaintenanceofstaff, associatedexpenses, andnecessarycontractualservices, andforthe reimbursement of reasonable expenses incurred by the division to promote captive insurance in this state.

4.

a.Notwithstanding section 8.33, moneys in the fund that remain unen

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1. A captive insurance regulatory and supervision fund is established in the state treasury
under the control of the division. The fund shall consist of all moneys deposited in the fund
pursuant to this section and any other moneys appropriated to or deposited in the fund.
2. All fees, assessments, fines, and administrative penalties collected under this chapter
and all premium tax receipts collected under section 432.1A shall be deposited in the fund.
3. Moneysinthefundareappropriatedtothedivisiontoadministerthischapter,including
themaintenanceofstaff, associatedexpenses, andnecessarycontractualservices, andforthe
reimbursement of reasonable expenses incurred by the division to promote captive insurance
in this state.
4. a. Notwithstanding section 8.33, moneys in the fund that remain unencumbered
or unobligated at the close of a fiscal year shall not revert but shall remain available for
expenditure for the purposes designated.
b. At the close of each fiscal year, if unencumbered or unobligated moneys remaining in
the captive insurance regulatory and supervision fund exceed five hundred thousand dollars,
moneys in excess of that amount shall be transferred from the captive insurance regulatory
and supervision fund to the general fund of the state.
5. The division may temporarily use moneys from the general fund of the state to pay
expenses in excess of moneys available in the captive insurance regulatory and supervision
fund for the purposes designated in this section if those additional expenditures are fully
reimbursable and the division reimburses the general fund of the state in full by the
close of the fiscal year. Because any general fund moneys used shall be fully reimbursed,
such temporary use of moneys from the general fund of the state shall not constitute an
appropriation for purposes of calculating the state general fund expenditure limitation
pursuant to section 8.54.