Iowa Code 515E.9 – Purchasing group restrictions
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 515E.9
- 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
- Insurer: means a person duly licensed in this state as an insurance company pursuant to this subtitle. See Iowa Code 510.1B
- Purchasing group: means a group 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
A purchasing group shall not purchase insurance from an insurer not admitted in this state unless the purchase is effected through a duly licensed insurance producer acting pursuant to chapter 515I.