515.37 Subsidiary companies. Any insurance company incorporated in this state may organize, or acquire by purchase, in whole or in part, subsidiary insurance and investment companies in which it owns not lessthan fifty-one percent of the common stock, and, subject to the approval of the insurancecommissioner and provided that no company invest an amount in excess of thirty percent ofits capital and surplus in the stock of such subsidiary companies, may: 1. Invest funds from surplus for each purpose.2. Make loans to such subsidiaries.3. Permit all or part of its officers and directors to serve as officers or directors of any such subsidiary companies. [C71, 73, 75, 77, 79, 81, §515.37] Sat Dec 23 00:46:45 2023 Iowa Code 2024, Section 515.37 (20, 0)
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