Iowa § 521J.6 Dividends

Iowa Statutes

§ 521J.6 — Dividends

Iowa § 521J.6

Title XIIICOMMERCE

Ch. 521JCAPTIVE COMPANIES

This text of Iowa § 521J.6 (Dividends) 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.6 (2026).

Text

1.A captive company shall not pay a dividend out of, or other distribution with respect to, the minimum capital or surplus required under section 521J.4 without the prior written approval of the commissioner.

2.The commissioner’s approval of an ongoing plan for the payment of dividends or other distributions shall be conditioned upon retention, at the time of each payment, of capital and surplus in excess of the amounts specified by, or determined in accordance with, a formula approved by the commissioner by rule.

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1. A captive company shall not pay a dividend out of, or other distribution with respect
to, the minimum capital or surplus required under section 521J.4 without the prior written
approval of the commissioner.
2. The commissioner’s approval of an ongoing plan for the payment of dividends or other
distributions shall be conditioned upon retention, at the time of each payment, of capital and
surplus in excess of the amounts specified by, or determined in accordance with, a formula
approved by the commissioner by rule.