515.9 Reduction of capital or shares. Any insurance company, other than life, may, upon the vote of a majority of its shares of stock represented at a meeting legally called for that purpose, reduce its capital stock and thenumber of shares thereof or the par value of the shares thereof, provided that the total amountof capital shall not be reduced to an amount less than the minimum required by law, but nopart of its assets and property shall be distributed to its stockholders without the consent ofthe insurance commissioner. [C27, 31, 35, §8903-b1; C39, §8903.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.9]Referred to in §511.23 Sat Dec 23 00:46:29 2023 Iowa Code 2024, Section 515.9 (20, 0)
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