House
File
320
-
Enrolled
House
File
320
AN
ACT
RELATING
TO
GROUP
CAPITAL
CALCULATION
FILINGS
BY
CERTAIN
INSURANCE
HOLDING
COMPANY
SYSTEMS.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
521A.4,
subsection
13,
paragraph
a,
unnumbered
paragraph
1,
Code
2023,
is
amended
to
read
as
follows:
The
ultimate
controlling
person
of
every
insurer
subject
to
registration
shall
concurrently
file
with
the
registration
an
annual
group
capital
calculation
on
or
before
June
30
.
The
calculation
must
be
completed
in
accordance
with
the
group
capital
calculation
instructions,
and
must
be
filed
with
the
lead
state
commissioner
of
the
insurance
holding
company
system
as
determined
by
the
procedures
in
the
most
recent
financial
analysis
handbook
published
by
the
NAIC.
As
permitted
by
the
group
capital
calculation
instructions,
the
lead
state
commissioner
may
allow
a
controlling
person,
other
than
the
ultimate
controlling
person,
to
file
the
group
capital
House
File
320,
p.
2
calculation.
The
following
insurance
holding
company
systems
are
exempt
from
filing
the
group
capital
calculation:
______________________________
PAT
GRASSLEY
Speaker
of
the
House
______________________________
AMY
SINCLAIR
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
320,
Ninetieth
General
Assembly.
______________________________
MEGHAN
NELSON
Chief
Clerk
of
the
House
Approved
_______________,
2023
______________________________
KIM
REYNOLDS
Governor