Iowa Code 508B.10 – Continuation of officers
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 508B.10
- mutual company: means a level premium and natural premium life insurance company authorized under chapter 508 upon the mutual plan and includes a domestic company which meets the requirements of section 508. See Iowa Code 508B.1
- Reorganized company: means the domestic stock company into which a mutual company has been converted, converted and merged, or converted and consolidated. See Iowa Code 508B.1
The directors and officers of the mutual company shall serve the reorganized company until new directors and officers are elected and qualify pursuant to the articles of incorporation and bylaws of the reorganized company.