1. The principal place of business of a plan sponsor or a person other than a natural person shall be determined by the association in its reasonable judgment by considering all of the following factors:

 a. The state in which the primary executive and administrative headquarters of the entity is located.
 b. The state in which the principal office of the chief executive officer of the entity is located.
 c. The state in which the board of directors or similar governing person or persons of the entity conducts the majority of its meetings.
 d. The state in which the executive or management committee of the board of directors or similar governing person or persons of the entity conducts the majority of its meetings.
 e. The state from which the management of the overall operations of the entity is directed.

Terms Used In Iowa Code 508C.8A

  • Association: means the Iowa life and health insurance guaranty association created in section 508C. See Iowa Code 508C.5
  • Benefit plan: means a specific employee, union, or association of natural persons benefit plan. See Iowa Code 508C.5
  • Board: means the engineering and land surveying examining board provided by this chapter. See Iowa Code 542B.2
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • Person: means an individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, or any other legal entity. See Iowa Code 508C.5
  • Plan sponsor: means any of the following:
     a. See Iowa Code 508C.5
  • State: means a state, the District of Columbia, Puerto Rico, or a United States possession, territory, or protectorate. See Iowa Code 508C.5
 2. In the case of a benefit plan sponsored by affiliated companies comprising a consolidated corporation, the principal place of business of the entity shall be deemed to be the state in which the holding company or controlling affiliate has its principal place of business as determined by the association using the factors enumerated in subsection 1. However, if more than fifty percent of the participants in the benefit plan are employed in a single state, that state shall be determined to be the principal place of business of the entity.
 3. In the case of a benefit plan established or maintained by two or more employers, or jointly by one or more employers and one or more employee organizations, the principal place of business of the entity shall be deemed to be the principal place of business of the association, committee, joint board of trustees, or other similar group of representatives of the parties who establish or maintain the benefit plan. In lieu of a specific or clear designation of the principal place of business of the entity under this subsection, the principal place of business of the entity shall be deemed to be the principal place of business of the employer or employee organization that has the largest investment in the benefit plan in question.
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