2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 507 - EXAMINATION OF INSURANCE COMPANIES
507.2 - AUTHORITY, SCOPE, AND SCHEDULING OF EXAMINATIONS.

        507.2  AUTHORITY, SCOPE, AND SCHEDULING OF
      EXAMINATIONS.
         1.  The commissioner or any of the commissioner's examiners may
      conduct an examination under this chapter of any company as often as
      the commissioner deems appropriate, but at a minimum, shall conduct
      an examination of any domestic insurer licensed in this state no less
      than once every five years.  In scheduling and determining the
      nature, scope, and frequency of the examinations, the commissioner
      shall consider such matters as the results of financial statement
      analyses and ratios, changes in management or ownership, actuarial
      opinions, reports of independent certified public accountants, and
      other criteria as set forth in the examiners' handbook adopted by the
      national association of insurance commissioners and in effect when
      the commissioner exercises discretion under this section.
         2.  For purposes of completing an examination of any company
      pursuant to this chapter, the commissioner may examine or investigate
      any person, or the business of any person, insofar as the examination
      or investigation is, in the sole discretion of the commissioner,
      necessary or material to the examination of the company.
         3.  In lieu of an examination under this chapter of any foreign or
      alien insurer licensed in this state, the commissioner may accept an
      examination report on the company as prepared by the regulatory
      authority for insurance for the company's state of domicile or
      port-of-entry state.  

         Section History: Early Form

         [C97, § 1753; S13, § 1821-a, -h; C24, 27, 31, 35, 39, § 8626,
      8642, 9009, 9061; C46, § 507.2, 507.18, 515.130, 518.36; C50, 54,
      58, 62, 66, 71, 73, 75, 77, 79, 81, § 507.2] 

         Section History: Recent Form

         92 Acts, ch 1117, § 2; 95 Acts, ch 185, §4