508B.4 Eligible policyholders participation. The policyholders who are entitled to notice of and to vote upon approval of a plan of conversion and entitled to notice of a public hearing are the policyholders whose policies orcontracts are in force on the date of adoption of the plan of conversion. Each policyholderwhose policy has been in force for at least one year prior to the date is entitled to theconsideration, if any, provided for the policyholder in the plan based on the policyholder’smembership interest determined pursuant to this chapter, but only if the policyholder’smembership interest arose from a policy or contract in force on the effective date of theconversion and such membership interest has been held continuously for at least one yearprior to the date of adoption of the plan. For this purpose, any changes in status of, orpremiums in excess of, those required on the policies or contracts occurring or made afterthe date one year prior to the date of adoption of the plan shall be disregarded. 85 Acts, ch 127, §4; 2000 Acts, ch 1023, §9 Sat Dec 23 00:40:55 2023 Iowa Code 2024, Section 508B.4 (15, 0)
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