2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515 - INSURANCE OTHER THAN LIFE
515.9 - REDUCTION OF CAPITAL OR SHARES.

        515.9  REDUCTION OF CAPITAL OR SHARES.
         Any insurance company, other than life, may, upon the vote of a
      majority of its shares of stock represented at a meeting legally
      called for that purpose, reduce its capital stock and the number of
      shares thereof or the par value of the shares thereof, provided that
      the total amount of capital shall not be reduced to an amount less
      than the minimum required by law, but no part of its assets and
      property shall be distributed to its stockholders without the consent
      of the insurance commissioner.  

         [C27, 31, 35, § 8903-b1; C39, § 8903.1; C46, 50, 54, 58, 62,
      66, 71, 73, 75, 77, 79, 81, § 515.9]
         Referred to in § 511.23