§ 508c-8

508C.8 Powers and duties of association. 1. If a member insurer is an impaired insurer, the association, subject to conditions imposed by the association and approved by the impaired insurer and the commissioner,may take any of the following actions: a. Guarantee, assume, reissue, reinsure, or cause to be guaranteed, assumed, reissued, or reinsured, any or all of the covered policies or contracts of the impaired insurer. b. Provide moneys, pledges, notes, guarantees, or other means as proper to effectuate paragraph 'a' and assure payment of the contractual obligations of the impaired insurerpending action under paragraph 'a'. c. Loan money to the impaired insurer and guarantee borrowings by the impaired insurer, provided the association has concluded, based on reasonable assumptions, that there is alikelihood of repayment of the loan and a probability that unless a loan is made the associationwould incur substantial liabilities under subsection 2. 2. If a member insurer is an insolvent insurer, the association may in its discretion do any of the following: a. The association may do either of the following:(1) Guarantee, assume, reissue, or reinsure, or cause to be guaranteed,

lvent insurer, the association may in its discretion do any of the following: a. The association may do either of the following:(1) Guarantee, assume, reissue, or reinsure, or cause to be guaranteed, assumed, reissued, or reinsured the covered policies or contracts of an insolvent insurer. (2) Assure payment of the contractual obligations of the insolvent insurer.b. Provide moneys, pledges, notes, guarantees, or other means as reasonably necessary to discharge the association’s duties described in this subsection. c. Provide benefits and coverages in accordance with all of the following provisions:(1) With respect to policies and contracts, assure payment of benefits that would have been payable under the policies or contracts of the insolvent insurer for claims incurred asfollows: (a) With respect to group policies and contracts, not later than the earlier of the next renewal date under those policies or contracts or forty-five days, but in no event less thanthirty days, after the date on which the association becomes obligated with respect to thepolicies or contracts. (b) With respect to nongroup policies or contracts not later than the earlier of the next renewal date, if any,

te on which the association becomes obligated with respect to thepolicies or contracts. (b) With respect to nongroup policies or contracts not later than the earlier of the next renewal date, if any, under those policies or contracts or one year, but in no event less thanthirty days, from the date on which the association becomes obligated with respect to thepolicies or contracts. (2) Make diligent efforts to provide all known insureds, enrollees, or annuitants, for nongroup policies or contracts, or group policy or contract owners, with respect to grouppolicies or contracts, thirty days’ notice of the termination, pursuant to subparagraph (1),of the benefits provided. (3) With respect to nongroup policies and contracts covered by the association, make available to each known insured, enrollee, or annuitant, or owner if other than the insured orannuitant, and with respect to an individual formerly an insured, enrollee, or annuitant undera group policy or contract who is not eligible for replacement group coverage, substitutecoverage on an individual basis in accordance with the provisions of subparagraph (4), ifthe insureds, enrollees, or annuitants had a right under law or under

or replacement group coverage, substitutecoverage on an individual basis in accordance with the provisions of subparagraph (4), ifthe insureds, enrollees, or annuitants had a right under law or under the terminated policy,contract, or annuity to convert coverage to individual coverage or to continue an individualpolicy, contract, or annuity in force until a specified age or for a specified time, during whichthe member insurer had no right to unilaterally make changes in any provision of the policy,contract, or annuity or had a right only to make changes in premium by class. (4) In providing the substitute coverage required under subparagraph (3), the association may offer either to reissue the terminated coverage or to issue an alternative policy or contractat actuarially justified rates. (a) Reissued or alternative policies or contracts shall be offered without requiring evidence of insurability, and shall not provide for any waiting period or exclusion that wouldnot have applied under the terminated policy or contract. (b) The association may reinsure any reissued or alternative policy or contract.(5) Alternative policies or contracts adopted by the association shall be subject

er the terminated policy or contract. (b) The association may reinsure any reissued or alternative policy or contract.(5) Alternative policies or contracts adopted by the association shall be subject to the Sat Dec 23 00:41:08 2023 Iowa Code 2024, Section 508C.8 (32, 1) §508C.8, IOWA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION 2 approval of the commissioner. The association may adopt alternative policies or contracts ofvarious types for future issuance without regard to any particular impairment or insolvency. (a) Alternative policies or contracts shall contain at least the minimum statutory provisions required in this state and shall provide benefits that are not unreasonable inrelation to the premium charged. The association shall set the premium in accordancewith a table of rates that the association shall adopt. The premium shall reflect the amountof insurance to be provided and the age and class of risk of each insured, but shall notreflect any changes in the health of the insured after the original policy or contract was lastunderwritten. (b) Any alternative policy or contract issued by the association shall provide coverage of a type similar to that of the policy or

insured after the original policy or contract was lastunderwritten. (b) Any alternative policy or contract issued by the association shall provide coverage of a type similar to that of the policy or contract issued by the impaired or insolvent insurer, asdetermined by the association. (6) If the association elects to reissue terminated coverage at a premium rate different from that charged under the terminated policy or contract, the premium shall be actuariallyjustified and set by the association in accordance with the amount of insurance or coverageprovided and the age and class of risk, subject to approval of the commissioner. (7) The association’s obligations with respect to coverage under any policy or contract of the impaired or insolvent insurer or under any reissued or alternative policy or contract,shall cease on the date the coverage, policy, or contract is replaced by another similar policyor contract by the policy or contract owner, the insured, the enrollee, or the association. (8) When proceeding under this paragraph 'c' with respect to a policy or contract carrying guaranteed minimum interest rates, the association shall assure the payment or crediting ofa rate of

iation. (8) When proceeding under this paragraph 'c' with respect to a policy or contract carrying guaranteed minimum interest rates, the association shall assure the payment or crediting ofa rate of interest consistent with section 508C.3, subsection 4, paragraph 'a'. (9) Nonpayment of premiums within thirty-one days after the date required under the terms of any guaranteed, assumed, alternative, or reissued policy, contract, or substitutecoverage shall terminate the association’s obligations under the policy, contract, or coverageunder this chapter with respect to the policy, contract, or coverage, except with respect toany claims incurred or any net cash surrender value which may be due under this chapter. (10) Premiums due for coverage after entry of an order of liquidation of an insolvent insurer shall belong to the association and be payable at the direction of the association. Ifthe liquidator of an insolvent insurer requests, the association shall provide a report to theliquidator regarding the premiums collected by the association. The association shall be liablefor unearned premiums due to policy or contract owners arising after the entry of the orderof liquidation.

quidator regarding the premiums collected by the association. The association shall be liablefor unearned premiums due to policy or contract owners arising after the entry of the orderof liquidation. (11) The protection provided by this chapter shall not apply where any guaranty protection is provided to a resident of this state by the laws of the domiciliary state or byjurisdiction of the impaired or insolvent insurer by an entity other than this state. 3. a. In carrying out its duties under subsection 2, permanent policy liens or contract liens may be imposed in connection with a guarantee, assumption, or reinsurance agreement, ifthe court does both of the following: (1) Finds either that the amounts which can be assessed under this chapter are less than the amounts needed to assure full and prompt performance of the insolvent insurer’scontractual obligations, or that the economic or financial conditions as they affect memberinsurers are sufficiently adverse to the public interest to justify the imposition of policy orcontract liens. (2) Approves the specific policy liens or contract liens to be used.b.

they affect memberinsurers are sufficiently adverse to the public interest to justify the imposition of policy orcontract liens. (2) Approves the specific policy liens or contract liens to be used.b. Before being obligated under subsection 2, the association may request the imposition of a temporary moratorium, not exceeding three years, or liens on payments of cash values,termination values, and policy loans in addition to any contractual provisions for deferralof cash values, termination values, or policy loans. The temporary moratoriums and liensmay be imposed by the court as a condition of the association’s liability with respect to theinsolvent insurer. c. The obligations of the association under subsection 2 regarding a covered policy shall be reduced to the extent that the person entitled to the obligations has received payment ofall or any part of the contractual benefits payable under the covered policy from any othersource. Sat Dec 23 00:41:08 2023 Iowa Code 2024, Section 508C.8 (32, 1) d. The association may offer modifications to the owners of policies or contracts or classes of policies or contracts issued by the insolvent insurer, if the association finds that under

8C.8 (32, 1) d. The association may offer modifications to the owners of policies or contracts or classes of policies or contracts issued by the insolvent insurer, if the association finds that under thepolicies or contracts the benefits provided, provisions pertaining to renewal, or the premiumscharged or which may be charged are not reasonable. If the owner of a policy or contract to bemodified fails or refuses to accept the modification as approved by the court, the associationmay terminate the policy or contract as of a date not less than one hundred eighty daysafter the modification is sent to the owner. The association shall have no liability underthe policy or contract for any claim incurred or continuing beyond the termination date.However, this paragraph does not apply to interest adjustments made pursuant to section508C.3, subsection 4, paragraph 'a'. 4. If the association fails to act within a reasonable period of time as provided in subsection 2, the commissioner shall have the powers and duties of the association under this chapterwith respect to insolvent insurers. 5. Upon request the association may give assistance and advice to the commissioner concerning the

l have the powers and duties of the association under this chapterwith respect to insolvent insurers. 5. Upon request the association may give assistance and advice to the commissioner concerning the rehabilitation, payment of claims, continuance of coverage, or theperformance of other contractual obligations of an impaired or insolvent insurer. 6. a. The association shall have standing to appear or intervene before any court or agency in this state with jurisdiction over an impaired or insolvent insurer concerning whichthe association is or may become obligated under this chapter or with jurisdiction over anyperson or property against which the association may have rights through subrogation orotherwise. Standing shall extend to all matters germane to the powers and duties of theassociation including but not limited to proposals for reinsuring, reissuing, modifying, orguaranteeing the covered policies or contracts of the impaired or insolvent insurer andthe determination of the covered policies or contracts and contractual obligations. Theassociation shall also have the right to appear or intervene before any court or agency inanother state with jurisdiction over an impaired or

red policies or contracts and contractual obligations. Theassociation shall also have the right to appear or intervene before any court or agency inanother state with jurisdiction over an impaired or insolvent insurer for which the associationis or may become obligated or with jurisdiction over any person or property against whomthe association may have rights through subrogation or otherwise. b. As a creditor of an impaired or insolvent insurer as provided under section 508C.13, subsection 3, and consistent with the provisions of section 507C.34, the association andsimilar associations shall be entitled to receive a disbursement of assets out of the marshaledassets, from time to time as the assets become available to reimburse the association orsimilar associations, as a credit against contractual obligations under this chapter. If theliquidator has not, within one hundred twenty days of a final determination of insolvencyof a member insurer by the receivership court, made an application to the court for theapproval of a proposal to disburse assets out of marshaled assets to guaranty associationshaving obligations because of the insolvency, the association or similar associations

ion to the court for theapproval of a proposal to disburse assets out of marshaled assets to guaranty associationshaving obligations because of the insolvency, the association or similar associations shall beentitled to make application to the receivership court for approval of the association’s or thesimilar association’s proposal to disburse the assets. 7. a. A person receiving benefits under this chapter is deemed to have assigned the rights under, and any causes of action against any person for losses arising under, resulting fromor otherwise relating to, the covered policy or contract to the association to the extent ofthe benefits received under this chapter, whether the benefits are payments of contractualobligations or on account of contractual obligations, a continuation of coverage, or provisionof substitute or alternative policies, contracts, or coverages. The association may require anassignment to the association of the rights and causes of action by any enrollee, payee, policyor contract owner, beneficiary, insured, or annuitant as a condition precedent to the receiptof any right or benefits conferred by this chapter upon the person.

f action by any enrollee, payee, policyor contract owner, beneficiary, insured, or annuitant as a condition precedent to the receiptof any right or benefits conferred by this chapter upon the person. The association shall besubrogated to the rights of any enrollee, payee, policy or contract holder, beneficiary, insured,or annuitant against the assets of the impaired or insolvent insurer. b. The subrogation rights of the association under this subsection have the same priority against the assets of the impaired or insolvent insurer as that possessed by the person entitledto receive benefits under this chapter. c. In addition to the rights pursuant to paragraphs 'a' and 'b', the association shall have all common law rights of subrogation and any other equitable or legal remedy which wouldhave been available to the impaired insurer, insolvent insurer, owner, beneficiary, enrollee, or Sat Dec 23 00:41:08 2023 Iowa Code 2024, Section 508C.8 (32, 1) §508C.8, IOWA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION 4 payee of a covered policy or covered contract with respect to the covered policy or coveredcontract, including without limitation, in the case of a structured settlement annuity,

ARANTY ASSOCIATION 4 payee of a covered policy or covered contract with respect to the covered policy or coveredcontract, including without limitation, in the case of a structured settlement annuity, anyrights of the owner, beneficiary, or payee of the annuity, to the extent of benefits receivedpursuant to this chapter, against a person originally or by succession responsible for thelosses arising from the personal injury relating to the annuity or payment for the annuity,excepting any such person responsible solely by reason of serving as an assignee in respectof a qualified assignment under section 130 of the Internal Revenue Code. d. If the provisions of paragraphs 'a' through 'c' are invalid or ineffective with respect to any person or claim for any reason, the amount payable by the association with respect tothe related covered obligations shall be reduced by the amount realized by any other personwith respect to the person or claim that is attributable to the policies or contracts, or portionthereof, covered by the association. e. If the association has provided benefits with respect to a covered obligation and a person recovers amounts as to which the association has rights

s, or portionthereof, covered by the association. e. If the association has provided benefits with respect to a covered obligation and a person recovers amounts as to which the association has rights as described in paragraphs'a' through 'd', the person shall pay to the association the portion of the recoveryattributable to the policies or contracts, or portion thereof, covered by the association. 8. The association has no obligation to issue a group conversion policy of any nature to a person or to continue a group coverage in force for more than sixty days following the datethe member insurer was adjudicated to be insolvent. 9. The association may do any of the following:a. Enter into contracts as necessary or proper to carry out this chapter.b. Sue or be sued, including taking any legal actions necessary or proper for recovery of any unpaid assessments under section 508C.9. c. Borrow money to effect the purposes of this chapter. Any notes or other evidence of indebtedness of the association held by domestic insurers and not in default qualify asinvestments eligible under section 511.8. d.

effect the purposes of this chapter. Any notes or other evidence of indebtedness of the association held by domestic insurers and not in default qualify asinvestments eligible under section 511.8. d. Employ or retain persons as necessary to handle the financial transactions of the association, and to perform other functions as necessary or proper under this chapter. e. Negotiate and contract with a liquidator, rehabilitator, conservator, or ancillary receiver to carry out the powers and duties of the association. f. Take legal action as necessary to avoid payment of improper claims. g. For the purposes of this chapter and to the extent approved by the commissioner, exercise the powers of a domestic life insurer, health insurer, or health maintenanceorganization, but the association shall not issue policies or contracts other than those issuedto perform the association’s obligations under this chapter. h. Join an organization of one or more other state associations of similar purposes to further the purposes and administer the powers and duties of the association. i. Unless prohibited by law, in accordance with the terms and conditions of the policy or contract, file for

purposes to further the purposes and administer the powers and duties of the association. i. Unless prohibited by law, in accordance with the terms and conditions of the policy or contract, file for actuarially justified rate or premium increases for any policy or contract forwhich the association provides coverage under this chapter. j. Take other necessary or appropriate action to discharge the association’s duties and obligations under this chapter or to exercise the association’s powers under this chapter. 10. a. (1) At any time within one hundred eighty days of the date of an order of liquidation, the association may elect to succeed to the rights and obligations of a cedingmember insurer that relate to policies or contracts covered, in whole or in part, by theassociation in each case under any reinsurance contract entered into by the insolventinsurer and its reinsurers, selected by the association. Any such assumption of rights andobligations shall be effective as of the date of the order of liquidation. The election shallbe effected by the association or by the national organization of life and health insuranceguaranty associations on its behalf by sending written notices,

the order of liquidation. The election shallbe effected by the association or by the national organization of life and health insuranceguaranty associations on its behalf by sending written notices, return receipt requested, tothe affected reinsurers. As used in this subsection, 'date of election' means the date of theelection of the association to succeed to the rights and obligations of the ceding memberinsurer as provided in this subparagraph. (2) To facilitate the earliest practicable decision about whether to assume any of the contracts of reinsurance of the ceding member insurer, and in order to protect the financialposition of the state, the receiver and each reinsurer of the ceding member insurer shall make Sat Dec 23 00:41:08 2023 Iowa Code 2024, Section 508C.8 (32, 1) available upon request to the association, or to the national organization of life and healthinsurance guaranty associations on its behalf, as soon as possible after commencement offormal delinquency proceedings all of the following: (a) Copies of in-force contracts of reinsurance and all related files and records relevant to the determination of whether such contracts should be assumed.

inquency proceedings all of the following: (a) Copies of in-force contracts of reinsurance and all related files and records relevant to the determination of whether such contracts should be assumed. (b) Notices of any defaults under the reinsurance contracts or any known event or condition which with the passage of time could become a default under the reinsurancecontract. (3) The following provisions shall apply to reinsurance contracts so assumed by the association: (a) The association shall be responsible for all unpaid premiums due under the reinsurance contracts for periods both before and after the date of the order of liquidationand shall be responsible for the performance of all other obligations to be performed afterthe date of the order of liquidation, in each case which relate to policies or contracts covered,in whole or in part, by the association. The association may charge policies or contractscovered in part by the association, through reasonable allocation methods, the cost forreinsurance in excess of the obligations of the association and shall provide notice and anaccounting of these charges to the liquidator.

sociation, through reasonable allocation methods, the cost forreinsurance in excess of the obligations of the association and shall provide notice and anaccounting of these charges to the liquidator. (b) The association shall be entitled to any amounts payable by the reinsurer under the reinsurance contracts with respect to losses or events that occur in periods after the date ofthe order of liquidation and that relate to policies or contracts covered, in whole or in part,by the association, provided that, upon receipt of any such amounts, the association shall beobliged to pay to the beneficiary under the policy or contract on account of which the amountswere paid, a portion of the amount equal to the lesser of any of the following: (i) The amount received by the association.(ii) The excess of the amount received by the association over the amount equal to the benefits paid by the association on account of the policy or contract less the retention of theinsurer applicable to the loss or event. (c) Within thirty days following the date of election, the association and each reinsurer under reinsurance contracts assumed by the association shall calculate the net balance due toor

oss or event. (c) Within thirty days following the date of election, the association and each reinsurer under reinsurance contracts assumed by the association shall calculate the net balance due toor from the association under each reinsurance contract as of the date of election with respectto policies or contracts covered, in whole or in part, by the association, which calculation shallgive full credit to all items paid by either the member insurer or its receiver or the reinsurerprior to the date of election. The reinsurer shall pay the receiver any amounts due for losses orevents prior to the date of the order of liquidation, subject to any setoff for premiums unpaidfor periods prior to the date of the order for liquidation, and the association or reinsurer shallpay any remaining balance due the other, in each case within five days of the completion ofthe aforementioned calculation. Any dispute over the amounts due to either the association orthe reinsurer shall be resolved by arbitration pursuant to the terms of the affected reinsurancecontract or, if the contract does not contain an arbitration clause, as otherwise provided bylaw.

ion orthe reinsurer shall be resolved by arbitration pursuant to the terms of the affected reinsurancecontract or, if the contract does not contain an arbitration clause, as otherwise provided bylaw. If the receiver has received any amounts due the association pursuant to subparagraphdivision (b), the receiver shall remit the same amounts to the association as promptly aspracticable. (d) If the association or receiver, on the association’s behalf, within sixty days of the date of election, pays the unpaid premiums due for periods both before and after the date ofelection that relate to policies or contracts covered, in whole or in part, by the association,the reinsurer shall not be entitled to terminate the reinsurance contracts for failure to paypremiums insofar as the reinsurance contracts relate to policies or contracts covered, in wholeor in part, by the association, and shall not be entitled to set off any unpaid amounts due underother policies or contracts, or unpaid amounts due from parties other than the association,against amounts due the association. b. During the period from the date of the order of liquidation, until the date of election or, if the association does not

from parties other than the association,against amounts due the association. b. During the period from the date of the order of liquidation, until the date of election or, if the association does not elect to succeed to the rights and obligations of the ceding memberinsurer as provided in paragraph 'a', subparagraph (1), until one hundred eighty days afterthe date of the order of liquidation all of the following provisions are applicable: (1) The association and the reinsurer shall not have any rights or obligations under Sat Dec 23 00:41:08 2023 Iowa Code 2024, Section 508C.8 (32, 1) §508C.8, IOWA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION 6 reinsurance contracts that the association has the right to assume under paragraph 'a',whether for periods prior to or after the date of liquidation. (2) The reinsurer, the receiver, and the association shall, to the extent practicable, provide each other with data and records reasonably requested. (3) Once the association elects to assume a reinsurance contract, the parties’ rights and obligations shall be governed by the provisions of paragraph 'a'. c.

h data and records reasonably requested. (3) Once the association elects to assume a reinsurance contract, the parties’ rights and obligations shall be governed by the provisions of paragraph 'a'. c. If the association does not elect to assume the rights and obligations under a reinsurance contract, the association shall have no rights or obligations in each case forperiods both before and after the date of the order of liquidation, with respect to thereinsurance contract. d. When policies or contracts, or covered obligations with respect thereto, are transferred to an assuming insurer, reinsurance on the policies or contracts may also be transferred bythe association, in the case of rights and obligations under reinsurance contracts assumedunder paragraph 'a', subject to the following provisions: (1) Unless the reinsurer and the assuming insurer agree otherwise, the reinsurance contracts transferred shall not cover any new policies or contracts of insurance in additionto those transferred. (2) The obligations described in paragraph 'a' shall no longer apply with respect to matters arising after the effective date of the transfer.

contracts of insurance in additionto those transferred. (2) The obligations described in paragraph 'a' shall no longer apply with respect to matters arising after the effective date of the transfer. (3) Notice shall be given in writing, return receipt requested, by the transferring party to the affected reinsurer not less than thirty days prior to the effective date of the transfer. e. This subsection shall supersede the provisions of any state law or of any affected reinsurance contract that provides for or requires any payment of reinsurance proceeds, onaccount of losses or events that occur in periods after the date of the order of liquidation, tothe receiver of the insolvent insurer or any other person. The receiver shall remain entitledto any amounts payable by the reinsurer under the reinsurance contract with respect tolosses or events that occur in periods prior to the date of the order of liquidation, subject toapplicable setoff provisions. f. Except as otherwise provided in this subsection, this subsection shall not be construed to do any of the following: (1) Alter or modify the terms and conditions of any reinsurance contract.(2) Abrogate or limit any rights of any

in this subsection, this subsection shall not be construed to do any of the following: (1) Alter or modify the terms and conditions of any reinsurance contract.(2) Abrogate or limit any rights of any reinsurer to claim that the reinsurer is entitled to rescind a reinsurance contract. (3) Give a policyholder, contract holder, enrollee, certificate holder, or beneficiary an independent cause of action against a reinsurer that is not otherwise set forth in thereinsurance contract. (4) Limit or affect the association’s rights as a creditor of the state against the assets of this state. (5) Apply to reinsurance agreements covering property or casualty risks.11. The board of directors of the association shall have discretion and may exercise reasonable business judgment to determine the means by which the association will providethe benefits of this chapter in an economical and efficient manner. 12. Where the association has arranged or offered to provide the benefits of this chapter to a covered person under a plan or arrangement that fulfills the association’s obligations underthis chapter, the person shall not be entitled to benefits from the association in addition to orother than

covered person under a plan or arrangement that fulfills the association’s obligations underthis chapter, the person shall not be entitled to benefits from the association in addition to orother than those provided under the plan or arrangement. 13. Venue in a suit against the association arising under this chapter shall be in the district court of Polk county. The association shall not be required to give an appeal bond in an appealthat relates to a cause of action arising under this chapter. 14. In carrying out its duties in connection with guaranteeing, assuming, reissuing, or reinsuring policies or contracts under subsections 1 and 2, the association may issuesubstitute coverage for a policy or contract that provides an interest rate, crediting rate,or similar factor determined by the use of an index or other external reference stated inthe policy or contract employed in calculating returns or changes in value by issuing analternative policy or contract in accordance with the following provisions: Sat Dec 23 00:41:08 2023 Iowa Code 2024, Section 508C.8 (32, 1) a. In lieu of the index or other external reference provided for in the original policy or contract the alternative

llowing provisions: Sat Dec 23 00:41:08 2023 Iowa Code 2024, Section 508C.8 (32, 1) a. In lieu of the index or other external reference provided for in the original policy or contract the alternative policy or contract provides for one of the following: (1) A fixed interest rate.(2) Payment of dividends with minimum guarantees.(3) A different method for calculating interest or changes in value.b. There is no requirement for evidence of insurability, waiting period, or other exclusion that would not have applied under the replaced policy or contract. c. The alternative policy or contract is substantially similar to the replaced policy or contract in all other material terms. 87 Acts, ch 223, §8; 88 Acts, ch 1135, §9; 90 Acts, ch 1234, §21, 22; 91 Acts, ch 26, §37; 92 Acts, ch 1162, §8; 2008 Acts, ch 1123, §16, 17; 2009 Acts, ch 41, §157, 158; 2010 Acts, ch 1063,§16 – 22; 2019 Acts, ch 12, §11 – 19, 35, 36; 2020 Acts, ch 1063, §275; 2023 Acts, ch 36, §4 Referred to in §508C.9, 508C.10, 508C.132019 amendments apply beginning March 29, 2019; 2019 Acts, ch 12, §35, 36Subsection 9, paragraph c amended Sat Dec 23 00:41:08 2023 Iowa Code 2024, Section 508C.8 (32, 1)