Iowa § 521J.24 Books and records

Iowa Statutes

§ 521J.24 — Books and records

Iowa § 521J.24

Title XIIICOMMERCE

Ch. 521JCAPTIVE COMPANIES

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Bluebook

Iowa Code § 521J.24 (2026).

Text

1.

a.Unless otherwise approved by the commissioner, a captive company shall maintain the captive company’s original books, records, documents, accounts, vouchers, and agreements in this state and make them available for examination and inspection by the commissioner as requested by the commissioner. The captive company may store and reproducethebooks,records,documents,accounts,vouchers,andagreementselectronically.

b.All books, records, documents, accounts, vouchers, and agreements shall be kept in a manner that the commissioner can readily ascertain the captive company’s financial condition, affairs, and operations; can readily verify the captive company’s financial statements; and can confirm the captive company’s compliance with this chapter.

2.Unless otherwise approved by the commiss

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1. a. Unless otherwise approved by the commissioner, a captive company shall maintain
the captive company’s original books, records, documents, accounts, vouchers, and
agreements in this state and make them available for examination and inspection by the
commissioner as requested by the commissioner. The captive company may store and
reproducethebooks,records,documents,accounts,vouchers,andagreementselectronically.
b. All books, records, documents, accounts, vouchers, and agreements shall be kept
in a manner that the commissioner can readily ascertain the captive company’s financial
condition, affairs, and operations; can readily verify the captive company’s financial
statements; and can confirm the captive company’s compliance with this chapter.
2. Unless otherwise approved by the commissioner, all books, records, documents,
accounts, vouchers, and agreements maintained by a captive company under subsection
1 shall remain available in the state until the commissioner approves destruction or other
disposition of the books, records, documents, accounts, vouchers, and agreements.