2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 511 - PROVISIONS APPLICABLE TO LIFE INSURANCE COMPANIES AND ASSOCIATIONS
511.10 - RULE OF VALUATION.

        511.10  RULE OF VALUATION.
         All bonds or other evidences of debt having a fixed term and rate,
      held by any fraternal beneficiary association authorized to do
      business in this state may, if amply secured and not in default as to
      principal and interest, be valued as follows:
         1.  If purchased at par, at the par value.
         2.  If purchased above or below par, on the basis of the purchase
      price adjusted so as to bring the value to par at maturity and so as
      to yield in the meantime the effective rate of interest at which the
      purchase was made.
         Provided that the purchase price shall in no case be taken at a
      higher figure than the actual market value at the time of purchase.
         The commissioner of insurance shall have full discretion in
      determining the method of calculating values according to the
      foregoing rule.  

         [C24, 27, 31, 35, 39, § 8746; C46, 50, 54, 58, 62, 66, 71, 73,
      75, 77, 79, 81, § 511.10]