Iowa Code 514.19 – Combined service corporations
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 514.19
- Commissioner: means the commissioner of insurance. See Iowa Code 510.1B
- 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.
A corporation subject to this chapter may combine with any other corporation subject to this chapter as permitted under chapter 504 and upon the approval by the commissioner of insurance. Each corporation shall comply with chapter 504, the corporation’s articles of incorporation, and the corporation’s bylaws. The combined service corporation shall continue the service benefits previously provided by each corporation and may, subject to the approval of the commissioner of insurance, offer other service benefits not previously provided by the corporations before combining, which are permitted under this chapter.