515.72 Insolvency of company — procedure. In the event of insolvency or receivership of any such alien insurer the title to the cash or securities so deposited shall vest in the commissioner of insurance for the use and benefitof the policies issued by said insurer and outstanding in this state, and in such event thecommissioner shall be appointed receiver of said insurer by the district court, in and forPolk county, with the right, subject to the court’s approval, to reinsure said policies in someinsurance company or association authorized to do business in this state, or to liquidate saiddeposit for the sole benefit of the policies for which said deposit was made. [C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.72] Sat Dec 23 00:47:06 2023 Iowa Code 2024, Section 515.72 (20, 0)
Iowa Legal Code