2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 507C - INSURERS SUPERVISION, REHABILITATION, AND LIQUIDATION
507C.20A - REDOMESTICATION OF FOREIGN INSURER.

        507C.20A  REDOMESTICATION OF FOREIGN INSURER.
         The commissioner may petition the court for an ancillary
      receivership or for an order redomesticating a foreign insurer which
      is the subject of a liquidation or other delinquency order in a
      reciprocal state.  Only the corporate charter and rights to the
      licenses under such charter shall be redomesticated to Iowa.  All
      claims against the foreign insurer shall remain a part of and be
      administered through the reciprocal state liquidation or other
      delinquency proceeding.  Following notice as prescribed by the court
      and a hearing, the court may sell the corporation as an entity,
      together with any of its licenses, free and clear from the claims or
      interests of all claimants, creditors, policyholders, and
      stockholders of the corporation under liquidation or other
      delinquency proceedings, wherever located.  The sale may be made on
      terms and conditions the court deems appropriate.  The proceeds of
      the sale, less court costs, attorney fees, broker's fees, and the
      commissioner's expenses in effectuating the sale, shall become part
      of the assets of the liquidation or other estate in the reciprocal
      state.  

         91 Acts, ch 213, §2