2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 508 - LIFE INSURANCE COMPANIES
508.5 - CAPITAL AND SURPLUS REQUIRED.

        508.5  CAPITAL AND SURPLUS REQUIRED.
         1.  A stock life insurance company shall not be authorized to
      transact business under this chapter with less than five million
      dollars of capital and surplus paid in cash or invested as provided
      by law.  A stock life insurance company shall not increase its
      capital stock unless the amount of the increase is fully paid in
      cash.  A stock life insurance company authorized to do business in
      Iowa that undergoes a change of control as defined under chapter 521A
      shall maintain the minimum capital and surplus requirements mandated
      by this section.
         2.  Notwithstanding subsection 1, a stock life insurance company,
      or any other life insurance company authorized to transact business
      under this chapter, shall comply with the minimum capital and surplus
      requirements of this chapter or chapter 521E, whichever is greater.
      

         Section History: Early Form

         [C73, § 1162; C97, § 1769; C24, 27, 31, 35, 39, § 8647; C46,
      50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 508.5] 

         Section History: Recent Form

         90 Acts, ch 1234, §5; 95 Acts, ch 185, §7; 96 Acts, ch 1046, § 1,
      21; 98 Acts, ch 1057, § 3
         Referred to in § 508.6, 508.9