Iowa Code § 515.16
Maximum premium
Iowa · Iowa Code Chapter 515 — Insurance Other Than Life · Status: effective
Cite this
- Citation
- Iowa Code § 515.16, Maximum premium, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2264530
- Permanent ID
ys:prov:2264530@1- SHA-256
35375abf23afce5c499c8a848584b195ffe0c1830e5a5e9670f3cc6e355c220f
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
The maximum premium payable by any member of a mutual company shall be expressed in the policy and in the application for the insurance. Such maximum may be a cash premium and an additional contingent premium not less than the cash premium, or may be solely a cash premium, which premium may be made payable in installments or regular assessments. No policy shall be issued for a cash premium without an additional contingent premium unless the company has a surplus which is not less in amount than the capital stock required, at the time of the organization of such mutual insurance company, of domestic stock insurance companies writing the same kind of insurance; but said surplus shall not be less than one hundred thousand dollars.