2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 507 - EXAMINATION OF INSURANCE COMPANIES
507.1 - PURPOSE -- DEFINITIONS.

        507.1  PURPOSE -- DEFINITIONS.
         1.  The purpose of this chapter is to provide an effective and
      efficient system for examining the activities, operations, financial
      condition, and affairs of all persons transacting the business of
      insurance in this state and all persons otherwise subject to the
      jurisdiction of the commissioner.  The chapter is intended to enable
      the commissioner to adopt a flexible system of examinations which
      directs resources as deemed appropriate and necessary for the
      administration of the insurance and insurance-related laws of this
      state.
         2.  As used in this chapter, unless the context otherwise
      requires:
         a.  "Commissioner" means the commissioner of insurance of
      this state.
         b.  "Company" means any person engaging in or proposing or
      attempting to engage in any transaction or kind of insurance or
      surety business and any person or group of persons who may otherwise
      be subject to the administrative, regulatory, or taxing authority of
      the commissioner.
         c.  "Division" means the division of insurance of the
      department of commerce.
         d.  "Examiner" means any individual or firm authorized by
      the commissioner to conduct an examination pursuant to this chapter.

         e.  "Insurer" includes all companies or associations
      organized under chapter 508, 511, 512A, 512B, 514, 514B, 515, 515C,
      or 518A, associations subject to chapters 518 and 520, and companies
      or associations admitted or seeking to be admitted to this state
      under any of those chapters.
         f.  "Person" means any individual, aggregation of
      individuals, trust, association, partnership, or corporation or an
      affiliate of any of these.  

         Section History: Early Form

         [S13, § 1821-i; C24, 27, 31, 35, 39, § 8625; C46, 50, 54, 58,
      62, 66, 71, 73, 75, 77, 79, 81, § 507.1] 

         Section History: Recent Form

         88 Acts, ch 1112, § 301; 92 Acts, ch 1117, § 1