Iowa § 521J.13 Legal investments

Iowa Statutes

§ 521J.13 — Legal investments

Iowa § 521J.13

Title XIIICOMMERCE

Ch. 521JCAPTIVE COMPANIES

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Bluebook

Iowa Code § 521J.13 (2026).

Text

1.

a.Industrial insured captive companies and captive risk retention groups shall comply 11 CAPTIVE COMPANIES, §521J.16 withinvestmentrequirementsasestablishedbythecommissionerbyrule. Thecommissioner may approve the use of alternative reliable methods of valuation and rating.

b.If a captive company’s admitted assets total less than five million dollars, the commissioner may approve an investment of up to twenty percent of the captive company’s admittedassetsinratedcreditinstrumentsinanyoneinvestmentthatmeetstherequirements established by the commissioner by rule.

2.A pure captive company, or a protected cell captive company, shall not be subject to any restrictionsonallowableinvestments, exceptthatthecommissionermayprohibitorlimitany investment that threatens the solvency or liquidity o

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1. a. Industrial insured captive companies and captive risk retention groups shall comply
11 CAPTIVE COMPANIES, §521J.16
withinvestmentrequirementsasestablishedbythecommissionerbyrule. Thecommissioner
may approve the use of alternative reliable methods of valuation and rating.
b. If a captive company’s admitted assets total less than five million dollars, the
commissioner may approve an investment of up to twenty percent of the captive company’s
admittedassetsinratedcreditinstrumentsinanyoneinvestmentthatmeetstherequirements
established by the commissioner by rule.
2. A pure captive company, or a protected cell captive company, shall not be subject to any
restrictionsonallowableinvestments, exceptthatthecommissionermayprohibitorlimitany
investment that threatens the solvency or liquidity of the pure captive company.
3. Any captive company may make loans to any of the captive company’s affiliates with
prior written approval of the commissioner, and each loan must be evidenced by a note in
a form as approved by the commissioner by rule. Loans made from minimum capital and
surplus funds required by section 521J.4 shall be prohibited.