Iowa Code § 515.70
Alien insurer defined
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2014
As of January 1, 2012
An alien insurer is hereby defined to mean an insurance company incorporated or organized under the laws of any country other than the United States.
1. An “alien insurer” is hereby defined to mean an insurance company incorporated or organized under the laws of any country other than the United States.
An alien insurer, with the approval of the commissioner, may be treated as a domestic insurer of this state in whole or in part. The approval of the commissioner may be based upon such factors as:
2. An alien insurer, with the approval of the commissioner, may be treated as a domestic insurer of this state in whole or in part. The approval of the commissioner may be based upon such factors as:
a. Maintenance of an appropriate trust account, surplus account, or other financial mechanism in this state.
b. Maintenance of all books and records of United States operations in this state.
c. Maintenance of a separate financial reporting system for its United States operations.
d. Any other provisions deemed necessary by the commissioner.
90 Acts, ch 1234, §37
90 Acts, ch 1234, §37; 2012 Acts, ch 1023, §157
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.