2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515B - INSURANCE GUARANTY ASSOCIATION
515B.3 - CREATION OF THE ASSOCIATION.

        515B.3  CREATION OF THE ASSOCIATION.
         There is created a nonprofit unincorporated legal entity to be
      known as the Iowa insurance guaranty association.  All insurers as
      defined in section 515B.2, subsection 5 shall be and remain members
      of the association as a condition of their authority to transact
      insurance in this state.  The association shall perform its functions
      under a plan of operation established and approved pursuant to
      section 515B.6 and shall exercise its powers through a board of
      directors established under section 515B.4.  Except as otherwise
      provided in such plan of operation, annual or special meetings of
      members of the association may be held on call as directed by the
      association's board of directors or by the commissioner of insurance,
      upon not less than ten days' written notice by ordinary mail to each
      member at the member's principal office as shown by the records in
      the commissioner's office, specifying the time and place, and in the
      case of a special meeting, the purpose of the meeting.  Members may
      vote in person or by proxy and ten members present in person or by
      proxy shall constitute a quorum for the transaction of any business.
      

         [C71, 73, 75, 77, 79, 81, § 515B.3]
         Referred to in § 515B.2