2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515G - MUTUAL INSURANCE COMPANY CONVERSIONS
515G.7 - REVIEW OF PLAN BY COMMISSIONER -- HEARING AUTHORIZED -- APPROVAL.

        515G.7  REVIEW OF PLAN BY COMMISSIONER -- HEARING
      AUTHORIZED -- APPROVAL.
         The commissioner of insurance shall review the plan.  The
      commissioner shall approve the plan if the commissioner finds the
      plan complies with all provisions of law, the plan is fair and
      equitable to the mutual insurer and its policyholders, and that the
      reorganized company will have the amount of capital and surplus
      deemed by the commissioner to be reasonably necessary for its future
      solvency.  The commissioner may order a hearing on the fairness and
      equity of the terms of the plan after giving written notice of the
      hearing to the mutual insurer, and its policyholders, all of whom
      have the right to appear at the hearing.  

         90 Acts, ch 1083, §7; 2000 Acts, ch 1023, §33
         Referred to in § 505.23, 515G.6