2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515 - INSURANCE OTHER THAN LIFE
515.72 - INSOLVENCY OF COMPANY -- PROCEDURE.

        515.72  INSOLVENCY OF COMPANY -- PROCEDURE.
         In the event of insolvency or receivership of any such alien
      insurer the title to the cash or securities so deposited shall vest
      in the commissioner of insurance for the use and benefit of the
      policies issued by said insurer and outstanding in this state, and in
      such event the commissioner shall be appointed receiver of said
      insurer by the district court, in and for Polk county, with the
      right, subject to the court's approval, to reinsure said policies in
      some insurance company or association authorized to do business in
      this state, or to liquidate said deposit for the sole benefit of the
      policies for which said deposit was made.  

         [C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 515.72]