2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515 - INSURANCE OTHER THAN LIFE
515.37 - SUBSIDIARY COMPANIES.

        515.37  SUBSIDIARY COMPANIES.
         Any insurance company incorporated in this state may organize, or
      acquire by purchase, in whole or in part, subsidiary insurance and
      investment companies in which it owns not less than fifty-one percent
      of the common stock, and, subject to the approval of the insurance
      commissioner and provided that no company invest an amount in excess
      of thirty percent of its capital and surplus in the stock of such
      subsidiary companies, may:
         1.  Invest funds from surplus for each purpose.
         2.  Make loans to such subsidiaries.
         3.  Permit all or part of its officers and directors to serve as
      officers or directors of any such subsidiary companies.  

         [C71, 73, 75, 77, 79, 81, § 515.37]