2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 521E - RISK=BASED CAPITAL REQUIREMENTS FOR INSURERS
521E.10 - FOREIGN INSURERS.

        521E.10  FOREIGN INSURERS.
         1.  A foreign insurer, upon the written request of the
      commissioner, shall submit to the commissioner a risk-based capital
      report as of the end of the calendar year just ended by the later of
      the following:
         a.  The filing date.
         b.  Fifteen days after the request is received by the foreign
      insurer.
         A foreign insurer, upon the written request of the commissioner,
      shall promptly submit to the commissioner a copy of any risk-based
      capital plan that is filed with the insurance commissioner of any
      other state.
         2.  In the event of a company-action-level event,
      regulatory-action-level event, or authorized-control-level event with
      respect to a foreign insurer as determined under the risk-based
      capital statute applicable in the state of domicile of the insurer,
      or, if no risk-based capital statute is in force in that state, under
      the provisions of this chapter, and if the insurance commissioner of
      the state of domicile of the foreign insurer fails to require the
      foreign insurer to file a risk-based capital plan in the manner
      specified under that state's risk-based capital statute, or, if no
      risk-based capital statute is in force in that state, pursuant to
      section 521E.2, the commissioner may require the foreign insurer to
      file a risk-based capital plan with the commissioner.  The failure of
      the foreign insurer to file a risk-based capital plan with the
      commissioner shall be sufficient grounds for the commissioner to
      order the insurer to cease and desist from writing new insurance
      business in this state.
         3.  In the event of a mandatory-control-level event with respect
      to a foreign insurer, if a domiciliary receiver has not been
      appointed with respect to the foreign insurer under the
      rehabilitation and liquidation statute applicable in the state of
      domicile of the foreign insurer, the commissioner may make
      application to the district court as permitted under chapter 507C
      with respect to the liquidation of property of foreign insurers found
      in this state, and the occurrence of the mandatory-control-level
      event shall be considered adequate grounds for the application.  

         96 Acts, ch 1046, §18