2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 506 - DOMESTIC INSURANCE COMPANIES
506.1 - RULES -- LIMITATIONS.

        506.1  RULES -- LIMITATIONS.
         The commissioner of insurance shall promulgate such reasonable
      rules and regulations as the commissioner deems necessary to assure
      the proper operation of newly organized insurance companies but in no
      event shall the commissioner:
         1.  Require that more than twenty percent of the original capital
      and surplus of a stock corporation subject to the provisions of this
      chapter be invested by the organizers; or
         2.  Restrict the alienation of securities issued to organizers for
      a period of more than:
         a.  Five years, or
         b.  Until the operation of the insurance company produces
      earned surplus for two successive years.  

         [C66, 71, 73, 75, 77, 79, 81, § 506.1]