520.23 Deposit of securities by reciprocal or interinsurance exchanges. If the commissioner of insurance or chief insurance officer of any other state or territory of the United States, claiming to proceed under existing or future laws of any such stateor territory, shall require reciprocal or interinsurance exchanges of this state or the agentsthereof to make any deposit of securities in such other state or territory for the protectionof policyholders or otherwise or to make payment of taxes, fines, penalties, certificatesof authority, license fees or otherwise or subject them to any restrictions, obligations,conditions, or penalties, greater than are required or imposed by the laws of the state ofIowa relating to reciprocal or interinsurance exchanges, from such exchanges of such otherstates or territories by the then existing laws of this state, then and in every such case allsuch reciprocal or interinsurance exchanges of such other states or territories shall be andthey are hereby required to make like deposits for like purposes with the insurance divisionof this state and to pay to the commissioner of insurance taxes, fines, penalties, certificatesof authority, license fees y required to make like deposits for like purposes with the insurance divisionof this state and to pay to the commissioner of insurance taxes, fines, penalties, certificatesof authority, license fees and otherwise in an amount equal to the amount of such chargesand payments, and shall be subjected to the same restrictions, obligations, conditions, orpenalties imposed by the commissioner of insurance or chief insurance officer of such otherstates under and by virtue of law, upon reciprocal or interinsurance exchanges of this stateand the agents thereof. [C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §520.23] Sat Dec 23 00:52:10 2023 Iowa Code 2024, Section 520.23 (15, 0)
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