Funds which are not required for the payment of losses and expenses may be held in reserve for future losses and expenses. Such reserve fund may be deposited in banks approved by the board of directors, or at the option of the board of directors may be invested in the classes of securities permitted by section 515.35; but at the direction of the board of directors and with the consent of the commissioner of insurance, a part of such funds may be invested in a home office building.
[C66, 71, 73, 75, 77, 79, 81, § 518.14]
Iowa General Assembly
Search: Iowa Code 1995
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