2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515 - INSURANCE OTHER THAN LIFE
515.69 - FOREIGN COMPANIES -- CAPITAL AND SURPLUS REQUIRED.

        515.69  FOREIGN COMPANIES -- CAPITAL AND SURPLUS
      REQUIRED.
         1.  A stock insurance company organized under or by the laws of
      any other state or foreign government for the purpose specified in
      this chapter, shall not, directly or indirectly, take risks or
      transact business of insurance in this state unless the company has
      two and one-half million dollars of actual paid-up capital, and a
      surplus in cash or invested in securities authorized by law of not
      less than two and one-half million dollars, exclusive of assets
      deposited in a state, territory, district, or country for the special
      benefit or security of those insured in that state, territory,
      district, or country.
         2.  Notwithstanding subsection 1, a stock insurance company
      authorized to transact business under this section shall comply with
      the minimum capital and surplus requirements of this section or
      chapter 521E, whichever is greater.  

         Section History: Early Form

         [C73, § 1144; C97, § 1721; SS15, § 1721; C24, 27, 31, 35, 39, §
      8951; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 515.69]
      

         Section History: Recent Form

         92 Acts, ch 1162, § 36; 96 Acts, ch 1046, § 5
         Referred to in § 515.143