508.22 Insolvency of company — procedure. In the event of insolvency or receivership of such reinsuring company or its successors, the commissioner shall be appointed by the district court of the state in and for Polk countyas receiver of said insolvent reinsuring company, and shall proceed, subject to the court’sapproval, to reinsure said policies in another life insurance company or to liquidate thedeposits for the sole benefit of the reinsured policies, and pending liquidation or reinsurance,shall have the sole right to collect premiums due on such policies. [C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §508.22] Sat Dec 23 00:40:37 2023 Iowa Code 2024, Section 508.22 (17, 0)
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