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515.10 Surplus required.

An insurance company other than a life insurance company shall have, in addition to the required paid-up capital, a surplus in cash or invested in securities authorized by law of not less than two million five hundred thousand dollars. An insurance company authorized to do business in Iowa that undergoes a change of control as defined under chapter 521A shall maintain the minimum surplus requirements mandated by this section.

Section History: Early form

[C73, § 1124; C97, § 1691; C24, 27, 31, 35, 39, § 8904; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 515.10]

Section History: Recent form

90 Acts, ch 1234, §34; 95 Acts, ch 185, §20

Internal References

Referred to in § 511.23

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