Iowa Code 515E.13 – Effect of federal district court orders
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 515E.13
- Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk which is determined to be insurance under the laws of this state. See Iowa Code 515E.2
- Risk retention group: means a corporation or other limited liability association formed under the laws of any state, Bermuda, or the Cayman Islands and to which all of the following apply:a. See Iowa Code 515E.2
- State: means a state of the United States or the District of Columbia. See Iowa Code 515E.2
- United States: includes all the states. See Iowa Code 4.1
An order issued by a district court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating, in any state, or in all states, or in any territory or possession of the United States, upon a finding that such a group is in a hazardous or impaired financial condition, is enforceable in the courts of this state.