If a dividing insurer will survive a division, the plan of division shall include, in addition to the requirements pursuant to section 521I.2, all of the following:
 1. All proposed amendments to the dividing insurer‘s articles of incorporation and bylaws.

Terms Used In Iowa Code 521I.3

  • Dividing insurer: means a domestic stock insurer that approves a plan of division. See Iowa Code 521I.1
  • division: means a transaction in which a domestic stock insurer splits into two or more resulting domestic stock insurers. See Iowa Code 521I.1
  • 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
  • Insurer: means a person duly licensed in this state as an insurance company pursuant to this subtitle. See Iowa Code 510.1B
  • Money: means the same as defined in section 554. See Iowa Code 554E.1
  • property: includes personal and real property. See Iowa Code 4.1
 2. If the dividing insurer intends to cancel some but not all shares in the dividing insurer, the manner in which the dividing insurer intends to cancel such shares.
 3. If the dividing insurer intends to convert some but not all shares in the dividing insurer into securities, obligations, money, other property, rights to acquire shares or securities, or any combination thereof, a statement disclosing the manner in which the dividing insurer intends to convert such shares.
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