515G.7 Review of plan by commissioner — hearing authorized — approval. The commissioner of insurance shall review the plan. The commissioner shall approve the plan if the commissioner finds the plan complies with all provisions of law, the plan is fairand equitable to the mutual insurer and its policyholders, and that the reorganized companywill have the amount of capital and surplus deemed by the commissioner to be reasonablynecessary for its future solvency. The commissioner may order a hearing on the fairness andequity of the terms of the plan after giving written notice of the hearing to the mutual insurer,and its policyholders, all of whom have the right to appear at the hearing. 90 Acts, ch 1083, §7; 2000 Acts, ch 1023, §33Referred to in §505.23, 515G.6 Sat Dec 23 00:49:12 2023 Iowa Code 2024, Section 515G.7 (15, 0)
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