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2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515C - MORTGAGE GUARANTY INSURANCE
515C.5 - LIMIT OF OUTSTANDING LIABILITY.

        515C.5  LIMIT OF OUTSTANDING LIABILITY.
         A mortgage guaranty insurer shall not at any time have outstanding
      a total liability, net of reinsurance, in excess of twenty-five times
      its capital, unassigned funds and contingency reserve.  It shall not
      insure loans secured by properties in a single housing tract or a
      contiguous tract (not separated by more than one-half mile) in excess
      of ten percent of its capital, unassigned funds and contingency
      reserve.  Coverage may be provided only if the properties in such
      tract are residential buildings, buildings designed for occupancy by
      not more than four families, or owner-occupied mobile homes.
         Section History: Early Form
         [C66, 71, 73, 75, 77, 79, 81, § 515C.5]
         Referred to in § 515C.11

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