No such security shall be accepted on any bond for an amount in excess of ten percent of the paid-up cash capital of such company or corporation unless the excess shall be reinsured in some other company or corporation authorized to do business in the state and in no case to exceed ten percent of the capital of the reinsuring company and provided that a certificate of such reinsurance shall be furnished to the insured.
[C97, § 360; SS15, § 360; C24, 27, 31, 35, 39, § 12766; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 682.17]
C93, § 636.17
Previous Section 636.16
Next Section 636.18
© 2003 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Jan 28 13:52:42 CST 2003
URL: /DOCS/IACODE/2003/636/17.html
jhf