2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 507C - INSURERS SUPERVISION, REHABILITATION, AND LIQUIDATION
507C.58 - INTERSTATE PRIORITIES.

        507C.58  INTERSTATE PRIORITIES.
         1.  In a liquidation proceeding in this state involving one or
      more reciprocal states, the order of distribution of the domiciliary
      state shall control as to claims of residents of this and reciprocal
      states.  Claims of residents of reciprocal states shall be given
      equal priority of payment from general assets regardless of where the
      assets are located.
         2.  The owners of special deposit claims against an insurer for
      which a liquidator is appointed in this or any other state is given
      priority against the special deposits in accordance with the statutes
      governing the creation and maintenance of the deposits.  If there is
      a deficiency in a deposit so that the claims secured by it are not
      fully discharged from it, the claimants may share in the general
      assets.  However, the sharing shall be deferred until general
      creditors and claimants against other special deposits who have
      received smaller percentages from their respective special deposits
      have been paid percentages of their claims equal to the percentage
      paid from the special deposit.
         3.  The owner of a secured claim against an insurer for which a
      liquidator has been appointed in this or any other state may
      surrender the security and file the claim as a general creditor, or
      the claim may be discharged by resort to the security in accordance
      with section 507C.41, in which case the deficiency shall be treated
      as a claim against the general assets of the insurer on the same
      basis as claims of unsecured creditors.  

         84 Acts, ch 1175, § 58