518B.6 - INSOLVENT INSURERS. - Iowa Statutes

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Statutes > Iowa > Title-13 > Subtitle-1 > Chapter-518b > 518b-6

518B.6 INSOLVENT INSURERS. In the event any insurer fails, by reason of insolvency, to pay any assessment, the commissioner shall cause the reimbursement ratios computed under section 518B.4 to be immediately recalculated excluding therefrom the insolvent insurer, so that its assessment is in effect assumed and redistributed among the remaining insurers.

Section History: Early Form

[C71, 73, 75, 77, 79, 81, § 518B.6]

State Codes and Statutes

Statutes > Iowa > Title-13 > Subtitle-1 > Chapter-518b > 518b-6

518B.6 INSOLVENT INSURERS. In the event any insurer fails, by reason of insolvency, to pay any assessment, the commissioner shall cause the reimbursement ratios computed under section 518B.4 to be immediately recalculated excluding therefrom the insolvent insurer, so that its assessment is in effect assumed and redistributed among the remaining insurers.

Section History: Early Form

[C71, 73, 75, 77, 79, 81, § 518B.6]

State Codes and Statutes

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State Codes and Statutes

Statutes > Iowa > Title-13 > Subtitle-1 > Chapter-518b > 518b-6

518B.6 INSOLVENT INSURERS. In the event any insurer fails, by reason of insolvency, to pay any assessment, the commissioner shall cause the reimbursement ratios computed under section 518B.4 to be immediately recalculated excluding therefrom the insolvent insurer, so that its assessment is in effect assumed and redistributed among the remaining insurers.

Section History: Early Form

[C71, 73, 75, 77, 79, 81, § 518B.6]