Iowa Code 508B.12 – Amendments — withdrawal
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 508B.12
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Board: means the engineering and land surveying examining board provided by this chapter. See Iowa Code 542B.2
- Commissioner: means the commissioner of insurance. See Iowa Code 508B.1
- conversion plan: means a plan authorized by section 508B. See Iowa Code 508B.1
- 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
At any time before the conversion, if done pursuant to rules issued by the commissioner or as may otherwise be required by the commissioner, the board of directors of a mutual company may amend the conversion plan. An amendment to a conversion plan is subject to the prior approval of the commissioner. The board of directors of a mutual company may withdraw the plan of conversion at any time prior to the conversion.