reglab/statecodes huggingface dataset:
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.44 - Dividends.

515.44 Dividends.
The directors or managers of a stock company, incorporated under the laws of this state shall make no dividends except from the earned profits arising from their business, which shall not include contributed capital or contributed surplus.
[C73, §1136; C97, §1702; C24, 27, 31, 35, 39, §8936; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.44]
Referred to in §515.46
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.46 - Forfeiture of certificate of authority.

515.46 Forfeiture of certificate of authority.
Any dividend made contrary to the provisions of section 515.44 or rules adopted by the commissioner shall subject the company making it to forfeiture of its certificate of authority.
[C73, §1136; C97, §1702; C24, 27, 31, 35, 39, §8938; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.46]
2000 Acts, ch 1023, §28, 60
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.49 - Limitation on risks.

515.49 Limitation on risks.
A company shall not expose itself to loss on any one risk or hazard to an amount exceeding ten percent of its surplus to policyholders unless one of the following applies:
1. The excess is reinsured in some other good and reliable company licensed to sell insurance in this state.
2. The excess is reinsured by a group of individual unincorporated insurers who are authorized to sell insurance in at least one state of the United States and who possess assets which are held in trust for the benefit of the American policyholders in the sum of not less than fifty million dollars, and a certificate of such reinsurance shall be furnished to the insured.
3. The excess is reinsured with a company which has, with respect to the ceding insurer, created a trust fund, made a deposit, or obtained letters of credit, on terms satisfactory to the commissioner.
[C73, §1132; C97, §1710; S13, §1710; C24, 27, 31, 35, 39, §8941; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.49]
88 Acts, ch 1112, §403
Referred to in §515.48, 521.13
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.51 - Policies — execution — requirements.

515.51 Policies — execution — requirements.
All policies or contracts of insurance except surety bonds made or entered into by the company may be made either with or without the seal of the company, but shall be subscribed by the president, or such other officer as may be designated by the directors for that purpose, and be attested to by the secretary or the secretary’s designee of the company. A group motor vehicle or group homeowners policy shall not be written or delivered within this state unless such policy is an individual policy or contract form.
[C73, §1133; C97, §1712; C24, 27, 31, 35, 39, §8943; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.51]
96 Acts, ch 1045, §5; 97 Acts, ch 186, §11; 2001 Acts, ch 69, §30
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.66 - Annual statement of foreign company.

515.66 Annual statement of foreign company.
The annual statement of foreign companies doing business in this state shall also show, in addition to the foregoing matters, the amount of losses incurred and premiums received in the state during the preceding period, so long as such company continues to do business in this state.
[C73, §1146; C97, §1716; C24, 27, 31, 35, 39, §8948; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.66]
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.68 - Changes in forms of statements.

515.68 Changes in forms of statements.
The commissioner may from time to time make changes in the forms of statements required by this chapter which seem to the commissioner best adapted to elicit from the companies a true exhibit of their condition in respect to the several points enumerated in this chapter.
[C73, §1157; C97, §1719; C24, 27, 31, 35, 39, §8950; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.68]
85 Acts, ch 228, §7
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.68A - Foreign companies — reinsurance.

515.68A Foreign companies — reinsurance.
A foreign company authorized to do business in this state shall not assumptively reinsure a block of business which includes policyholders residing in this state to a company not authorized to do business in this state without the prior written approval of the commissioner.
97 Acts, ch 186, §12
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.69 - Foreign companies — capital and surplus required.

515.69 Foreign companies — capital and surplus required.
1. A stock insurance company organized under or by the laws of any other state or foreign government for the purpose specified in this chapter, shall not, directly or indirectly, take risks or transact business of insurance in this state unless the company possesses the actual amount of capital and surplus required of any company organized pursuant to this chapter, or if the company is a mutual insurance company, the actual amount of surplus required of any mutual insurance company organized pursuant to this chapter, exclusive of assets deposited in a state, territory, district, or country for the special benefit or security of those insured in that state, territory, district, or country.
2. Notwithstanding subsection 1, a stock insurance company authorized to transact business under this section shall comply with the minimum capital and surplus requirements of this section or chapter 521E, whichever is greater.
[C73, §1144; C97, §1721; SS15, §1721; C24, 27, 31, 35, 39, §8951; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.69]
92 Acts, ch 1162, §36; 96 Acts, ch 1046, §5; 2013 Acts, ch 124, §18
Referred to in §515.143
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.70 - Alien insurer defined.

515.70 Alien insurer defined.
1. An “alien insurer” is hereby defined to mean an insurance company incorporated or organized under the laws of any country other than the United States.
2. An alien insurer, with the approval of the commissioner, may be treated as a domestic insurer of this state in whole or in part. The approval of the commissioner may be based upon such factors as:
a. Maintenance of an appropriate trust account, surplus account, or other financial mechanism in this state.
b. Maintenance of all books and records of United States operations in this state.
c. Maintenance of a separate financial reporting system for its United States operations.
d. Any other provisions deemed necessary by the commissioner.
[C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.70]
90 Acts, ch 1234, §37; 2012 Acts, ch 1023, §157
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.71 - Deposit of securities — amount.

515.71 Deposit of securities — amount.
1. Every alien insurer authorized to transact business in this state shall at all times maintain a deposit with the commissioner of insurance in cash or in securities in which insurance companies are authorized to invest, of a sum equal to the greater of the reserve on all policies covering risks located in this state or one million dollars. The securities shall be approved, and the amount of the deposit shall be determined, by the commissioner. The commissioner, in the commissioner’s discretion, may permit the withdrawal of interest earnings.
2. In lieu of the deposit provided in this section, an alien insurer may file with the commissioner a bond of equal amount executed by a licensed United States surety company, so conditioned for the protection of Iowa creditors and policyholders.
3. An alien insurer shall not be granted a certificate of authority to transact business in this state, or a renewal of the certificate, until such deposit is made, and the commissioner may revoke the certificate of authority of an alien insurer which fails to make the deposit within a reasonable period of time.
[C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.71]
92 Acts, ch 1162, §37; 2000 Acts, ch 1023, §29, 60; 2018 Acts, ch 1041, §127
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.72 - Insolvency of company — procedure.

515.72 Insolvency of company — procedure.
In the event of insolvency or receivership of any such alien insurer the title to the cash or securities so deposited shall vest in the commissioner of insurance for the use and benefit of the policies issued by said insurer and outstanding in this state, and in such event the commissioner shall be appointed receiver of said insurer by the district court, in and for Polk county, with the right, subject to the court’s approval, to reinsure said policies in some insurance company or association authorized to do business in this state, or to liquidate said deposit for the sole benefit of the policies for which said deposit was made.
[C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.72]
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.73 - Additional statements — impaired capital.

515.73 Additional statements — impaired capital.
Any company desiring to transact the business of insurance under this chapter shall also file with the commissioner a certified copy of its charter or deed of settlement, together with a statement under oath of the president or vice president or other chief officer and the secretary of the company for which they may act, stating the name of the company, the place where located, the amount of its capital, with a detailed statement of the facts and items required from companies organized under the laws of this state, and a copy of the last annual report, if any, made under any law of the state by which such company was incorporated; and no agent shall be allowed to transact business for any company whose capital is impaired by liabilities as specified in this chapter to the extent of twenty percent thereof, while such deficiency shall continue.
[C73, §1144; C97, §1722; C24, 27, 31, 35, 39, §8954; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.75]
2007 Acts, ch 152, §6
CS2007, §515.73
2008 Acts, ch 1074, §5
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.74 - Foreign mutual companies — surplus.

515.74 Foreign mutual companies — surplus.
1. Any mutual insurance company organized outside of this state and authorized to transact the business of insurance on the mutual plan in any other state of the United States or in the District of Columbia, may be admitted to this state and authorized to transact herein any of the kinds of insurance authorized by its charter or articles of incorporation, when so permitted by the provisions of this chapter, with the powers and privileges and subject to the conditions and limitations specified in said chapter; provided, however, such company has complied with all the statutory provisions which require stock companies to file papers and to furnish information and to submit to examination, and is also solvent according to the requirements of this chapter and is possessed of a surplus safely invested as follows:
a. In case of a mutual company issuing policies for a cash premium without an additional contingent liability equal to or greater than the cash premium, the surplus shall be at least two million dollars.
b. In case of any other such mutual company issuing policies for a cash premium or payment with an additional contingent liability equal to or greater than the cash premium or payment, the surplus shall be such an amount as the commissioner of insurance of Iowa may require, but in no case less than three hundred thousand dollars, provided that the provisions of this section fixing a minimum surplus of three hundred thousand dollars shall not apply to companies now admitted to do business in Iowa; provided, further, that no such mutual company shall be authorized to transact compensation insurance without a surplus of at least three hundred thousand dollars unless all liability for each adjusted claim in this state, the payment of any part of which is deferred for more than one year, shall be provided for by a special deposit, in a trust company or a bank having fiduciary powers, located in this state, which shall be a trust fund applicable solely and exclusively to the payment of the compensation benefits for which such deposit is made, or shall be reinsured in an authorized stock company, or in an authorized mutual company with a surplus of at least three hundred thousand dollars.
2. Notwithstanding subsection 1, a mutual insurance company authorized to transact business under this section shall comply with the minimum surplus requirements of this section or chapter 521E, whichever is greater.
[C73, §1144; C97, §1723; C24, 27, 31, 35, 39, §8955; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.76]
96 Acts, ch 1046, §6; 2007 Acts, ch 152, §7
CS2007, §515.74
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.75 - Certificate to foreign company.

515.75 Certificate to foreign company.
When a foreign company has fully complied with the requirements of law and become entitled to do business, the commissioner of insurance shall issue to the company a certificate of that fact, which certificate shall be renewed annually on the first day of June, if the commissioner is satisfied that the capital, securities, and investments of the company remain unimpaired, and the company has complied with the provisions of law applicable to the company. However, the commissioner shall not grant or continue authority to transact insurance in this state to an insurer the management of which is found by the commissioner, after a hearing is provided, in which the commissioner shall establish and consider any prior criminal records or any other matters, to be untrustworthy or so lacking in insurance experience as to make the proposed operation hazardous to the insurance-buying public; or which, after a hearing is provided, the commissioner has good reason to believe is affiliated directly or indirectly through ownership, control, reinsurance transactions, or other insurance or business relations, with a person whose business operations are or have been marked, to the detriment of policyholders or stockholders or investors or creditors or of the public, by manipulation or dissipation of assets, or manipulation of accounts, or of reinsurance, or by similar injurious actions.
[C73, §1146; C97, §1724; C24, 27, 31, 35, 39, §8956; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.77]
91 Acts, ch 213, §27; 2007 Acts, ch 152, §8
CS2007, §515.75
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.76 - Commissioner as process agent.

515.76 Commissioner as process agent.
Any company desiring to transact the business of insurance under this chapter shall file with the commissioner of insurance a power of attorney and a signed written instrument authorizing the commissioner to accept service of notice or process on behalf of such company that shall be as valid as if served upon the company according to the laws of this or any other state, and waiving all claim or right of error due to the filing of the power of attorney and the agreement regarding service of notice or process.
[C73, §1144; C97, §1722; C24, 27, 31, 35, 39, §8952; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.73]
2003 Acts, ch 91, §36; 2007 Acts, ch 152, §4
CS2007, §515.76
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.77 - Service of process.

515.77 Service of process.
Any notice or service of process made on the commissioner as agent for service of process shall be made as provided in section 505.30.
[C97, §1722; C24, 27, 31, 35, 39, §8953; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.74]
92 Acts, ch 1162, §38; 99 Acts, ch 165, §14; 2007 Acts, ch 152, §5
CS2007, §515.77
2018 Acts, ch 1018, §8
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.78 - Foreign companies may become domestic.

515.78 Foreign companies may become domestic.
1. An insurer which is organized under the laws of any state and has created or will create jobs in this state or which is an affiliate or subsidiary of a domestic insurer, and is admitted to do business in this state for the purpose of writing insurance authorized by this chapter may become a domestic insurer by complying with section 490.905 or 491.33 and with all of the requirements of law relative to the organization and licensing of a domestic insurer of the same type and by designating its principal place of business in this state may become a domestic corporation and be entitled to like certificates of its corporate existence and license to transact business in this state, and be subject in all respects to the authority and jurisdiction thereof.
2. The certificates of authority, agent’s appointments and licenses, rates, and other items which are in existence at the time any insurer transfers its corporate domicile to this state, pursuant to this section, shall continue in full force and effect upon such transfer. For purposes of existing authorizations and all other corporate purposes, the insurer is deemed the same entity as it was prior to the transfer of its domicile. All outstanding policies of any transferring insurer shall remain in full force and effect and need not be endorsed as to any new name of the company or its new location unless so ordered by the commissioner of insurance.
[81 Acts, ch 161, §2]
C83, §515.99
89 Acts, ch 288, §193; 2007 Acts, ch 152, §25
CS2007, §515.78
2011 Acts, ch 66, §2; 2021 Acts, ch 165, §227, 230
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.100 - Nature of organization entered on policy.

515.100 Nature of organization entered on policy.
Every domestic and foreign insurance company organized and doing business under this chapter shall indicate upon the first page of every policy and renewal receipt that the policy is issued by a mutual company in case of a mutual company, and by a stock company in case of a stock company.
[C73, §1140; C97, §1689; S13, §1689; C24, 27, 31, 35, 39, §8901; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.6]
2007 Acts, ch 152, §1
CS2007, §515.100
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.101 - Conditions and stipulations invalidating policy — avoidance — pleadings — applicability.

515.101 Conditions and stipulations invalidating policy — avoidance — pleadings — applicability.
1. Any condition or stipulation in an application, policy, or contract of insurance making the policy void before the loss occurs shall not prevent recovery on the policy by the insured, if the plaintiff shows that the failure to observe such provision or the violation thereof did not contribute to the loss.
2. Any such condition or stipulation in an application, policy, or contract of insurance that refers to any of the following shall not be changed or affected by the provisions of subsection 1:
a. Any other insurance, valid or invalid.
b. Vacancy of the insured premises.
c. The title or ownership of the property insured.
d. Liens or encumbrances on the property insured created by the voluntary act of the insured and within the insured’s control.
e. Suspension or forfeiture of the policy during default or failure to pay any written obligation given to the insurance company for the premium.
f. The assignment or transfer of such policy of insurance before the loss occurs without the consent of the insurance company.
g. The removal of the property insured.
h. A change in the occupancy or use of the property insured, if such change or use makes the risk more hazardous.
i. Fraud, concealment, or misrepresentation of an insured.
3. Subsections 1 and 2 shall not be construed to change limitations or restrictions related to the pleading or proving of any defense by any insurance company to which the company is subject by law.
4. The provisions of subsections 1, 2, and 3 apply to all contracts of insurance on real and personal property.
[C97, §1743; S13, §1743; C24, 27, 31, 35, 39, §8980; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.101]
2007 Acts, ch 152, §64; 2009 Acts, ch 145, §23
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.102 - Forms of policies and endorsements — approval.

515.102 Forms of policies and endorsements — approval.
1. The form of all policies, and of applications, and of agreements or endorsements modifying the provisions of policies, and of all permits and riders used generally throughout the state, that are issued or proposed to be issued by any insurance company doing business in this state under the provisions of this chapter, shall first be examined and approved by the commissioner of insurance.
2. The commissioner, upon a determination that the examination required under subsection 1 is unnecessary to achieve the purpose of this section, may exempt either of the following:
a. Any specified person by order, or any class of persons by rule.
b. Any specified risk by order, or any line or kind of insurance, or subdivision of insurance, or any class of risk or combination of classes of risks by rule.
3. Forms of policies issued or proposed to be issued shall provide for the cancellation of the policy at the request of the insured upon equitable terms, and the return to the insured of any premium paid in excess of the customary short rates for the insurance up to the time of cancellation, or the release of the insured from any liability beyond such short rates, or for losses after the cancellation of the policy if the insurance is issued or proposed to be issued by a mutual company.
2007 Acts, ch 152, §65
Referred to in §515.109
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.104 - Coinsurance or contribution clause.

515.104 Coinsurance or contribution clause.
Contracts of insurance against loss or damage by fire or other perils may contain a coinsurance or contribution clause or clause having similar effect, provided the form setting up the terms of the same has been approved by the commissioner of insurance.
[C97, §1746; S13, §1746; C24, 27, 31, 35, 39, §8990 – 8995, 8997; C46, 50, 54, §515.111 – 515.116, 515.118; C58, 62, 66, 71, 73, 75, 77, 79, 81, §515.111]
2007 Acts, ch 152, §29
CS2007, §515.104
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.105 - Agency relationship.

515.105 Agency relationship.
Any officer, insurance producer, or representative of an insurance company doing business in this state who may solicit insurance, procure applications, issue policies, adjust losses, or transact the business generally of such companies, shall be held to be the agent of such insurance company with authority to transact all business within the scope of the agency relationship, anything in the application, policy, contract, bylaws, or articles of incorporation of such company to the contrary notwithstanding.
[C97, §1750; C24, 27, 31, 35, 39, §9004; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.125]
2001 Acts, ch 16, §9, 37; 2007 Acts, ch 152, §33
CS2007, §515.105
Referred to in §511.4
Applicable to life companies, §511.4
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.106 - Limitation on termination of independent producers.

515.106 Limitation on termination of independent producers.
An insurance company organized under this chapter or authorized to do business in this state shall not terminate a contract of an insurance producer who is an independent contractor but who is not an exclusive insurance producer as defined in section 522B.1 without at least one hundred eighty days’ notice, except for loss of license, fraud, nonpayment of company premiums that are due and not in dispute by the producer, or the withdrawal of operations in the state by the insurance company. This section does not apply to insurance producers or a business entity whose contract with an insurer authorized to do business in this state contains a written provision expressly reserving to the insurer all right, title, and interest to the ownership or the use of insurance business written by such an insurance producer or business entity.
2002 Acts, ch 1111, §19
C2003, §515.125A
2007 Acts, ch 152, §34
CS2007, §515.106
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.108 - Insurance in unauthorized companies.

515.108 Insurance in unauthorized companies.
No action shall be maintained in any court in the state upon any policy or contract of fire insurance issued upon any property situated in the state by any company, association, partnership, individual, or individuals that have not been authorized by the commissioner of insurance to transact such insurance business, unless it shall be shown that the insurer or insured, within six months after the issuing of such policy or contract of insurance, has paid into the state treasury two percent of the gross premium paid or agreed to be paid for such policy or contract of insurance.
[C97, §1758; C24, 27, 31, 35, 39, §9016; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.137]
2007 Acts, ch 152, §43
CS2007, §515.108
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.110 - More favorable conditions.

515.110 More favorable conditions.
Nothing contained in section 515.109 shall be so construed as to prohibit any insurance company not required by the statutes of Iowa to issue a standard form of policy, from embodying, with the approval of the commissioner of insurance, in any insurance contract issued by it, provisions or conditions which are more favorable to the insured than those authorized in said statutes.
[C24, 27, 31, 35, 39, §8987; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.108]
2007 Acts, ch 152, §27, 66
CS2007, §515.110
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.111 - Nuclear loss or damage excluded.

515.111 Nuclear loss or damage excluded.
Insurers issuing the standard policy pursuant to section 515.109 are authorized to affix to or include within a policy a written statement that the policy does not cover loss or damage caused by nuclear reaction or nuclear radiation or radioactive contamination, all whether directly or indirectly resulting from an insured peril under the policy. However, nothing contained in this section shall be construed to prohibit the attachment to any such policy of an endorsement or endorsements specifically assuming coverage for loss or damage caused by nuclear reaction or nuclear radiation or radioactive contamination.
[C62, 66, 71, 73, 75, 77, 79, 81, §515.139]
2007 Acts, ch 152, §45, 74
CS2007, §515.111
2020 Acts, ch 1063, §290; 2021 Acts, ch 80, §329
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.112 - Violations — status of policy.

515.112 Violations — status of policy.
It shall be unlawful for any insurance company, its officers or agents, or either of them, to violate any of the provisions of section 515.109 by issuing, delivering, or offering to issue or deliver any policy of fire insurance on property in this state other than the standard form as provided in statute, but any policy so issued or delivered shall, nevertheless, be binding upon the company issuing or delivering the policy. The company shall, until the payment of a penalty assessed by order after hearing, be disqualified from doing any insurance business in this state.
[S13, §1758-c; C24, 27, 31, 35, 39, §9019; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.140]
2004 Acts, ch 1110, §57; 2007 Acts, ch 152, §46, 75
CS2007, §515.112
Referred to in §515.113
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.113 - Existing statutes — waiver.

515.113 Existing statutes — waiver.
Nothing contained in sections 515.109 and 515.112, nor any provisions or conditions in the standard form of policy provided for in section 515.109, shall be deemed to repeal or in any way modify any existing statutes or to prevent any insurance company issuing such policy, from waiving any of the provisions or conditions contained therein, if the waiver of such provisions or conditions shall be in the interest of the insured.
[S13, §1758-d; C24, 27, 31, 35, 39, §9020; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.141]
2007 Acts, ch 152, §47, 76
CS2007, §515.113
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.114 - Policy — formal execution.

515.114 Policy — formal execution.
1. Every fire insurance company and association authorized to transact business in this state shall conduct its business in the name under which it is incorporated, and the policies issued by it shall be headed or entitled only by such name. There shall not appear on the face of the policy or on its filing back anything that would indicate that it is the obligation of any other than the company responsible for the payment of losses under the policy, though it is permissible to stamp or print on the bottom of the filing back the name or names of the department or general agency issuing the same, and the group of companies with which the company is financially affiliated.
2. Nothing contained in subsection 1 shall be construed to prevent any representative of an insurance company from advertising the representative’s own individual business without specific mention of the name of the company or companies which the person may represent.
2007 Acts, ch 152, §67
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.125 - Forfeiture of policies — notice.

515.125 Forfeiture of policies — notice.
1. Unless otherwise provided in section 515.127, 515.128, 515.129, 515.129A, 515.129B, or 515.129C, a policy or contract of insurance provided for in this chapter shall not be forfeited, suspended, or canceled except by notice to the insured as provided in this chapter. A notice of cancellation is not effective unless mailed or delivered by the insurer to the named insured at least thirty days before the effective date of cancellation or, where cancellation is for nonpayment of a premium, assessment, or installment provided for in the policy, or in a note or contract for the payment thereof, at least ten days prior to the date of cancellation. The notice may be made in person, or by sending by mail a letter addressed to the insured at the insured’s address as given in or upon the policy, anything in the policy, application, or a separate agreement to the contrary notwithstanding.
2. An insurer shall not fail to renew a policy except by notice to the insured as provided in this chapter. A notice of intention not to renew is not effective unless mailed or delivered by the insurer to the named insured at least thirty days prior to the expiration date of the policy. A notice of intention not to renew is not required if the insured is transferred from an insurer to an insurance company admitted in Iowa which is an affiliate of, as defined in section 521A.1, the transferring insurer and all of the following conditions are met:
a. The transfer does not result in an interruption in coverage.
b. The rating of the affiliate from the A.M. Best company or a substitute rating service acceptable to the commissioner is the same or better than the rating of the transferring insurer.
c. The transfer results in the same or broader coverage.
d. Notice of the transfer is delivered to the insured or sent by first class mail to the insured’s last known address not less than thirty days prior to the transfer. The notice required by this paragraph is not required in the event that the insured requests or consents to the transfer.
e. The notice of transfer provides the name and telephone number of the insured’s insurance producer, agent, or agency, if any.
3. If the reason does not accompany the notice of cancellation or nonrenewal, the insurer shall, upon receipt of a timely request by the named insured, state in writing the reason for cancellation or nonrenewal.
[C97, §1727; C24, 27, 31, 35, 39, §8959; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.80]
87 Acts, ch 132, §3; 88 Acts, ch 1112, §404; 90 Acts, ch 1234, §38; 2002 Acts, ch 1111, §17; 2007 Acts, ch 152, §9, 58
CS2007, §515.125
2008 Acts, ch 1074, §9; 2010 Acts, ch 1121, §18; 2011 Acts, ch 70, §29; 2015 Acts, ch 128, §23, 50, 51
Referred to in §509B.5, 515.115, 515.126, 515D.7, 515F.39
Continuation rights and notice under group accident and health insurance, see §509B.5
See §515D.5, 515D.7
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.126 - Cancellation of policy — notice to insured or mortgagee.

515.126 Cancellation of policy — notice to insured or mortgagee.
1. Unless otherwise provided in section 515.127, 515.128, 515.129, 515.129A, 515.129B, or 515.129C, at any time after the maturity of a premium, assessment, or installment provided for in the policy, or a note or contract for the payment thereof, or after the suspension, forfeiture, or cancellation of a policy or contract of insurance, the insured may pay to the company the customary short rates and costs of action, if one has been commenced or judgment rendered thereon, and may, if the insured so elects, have the policy and all contracts or obligations connected with the policy, whether in judgment or otherwise, canceled, and all such policy and contracts shall be void; and in case of suspension, forfeiture, or cancellation of a policy or contract of insurance, the insured is not liable for a greater amount than the short rates earned at the date of the suspension, forfeiture, or cancellation and the costs of action provided for in this section.
2. If the policy is canceled by the insurance company, the insurer may retain only the pro rata premium, and if the initial cash premium, or any part of the premium, has not been paid, the policy may be canceled by the insurance company by giving notice to the insured as provided in section 515.125 and ten days’ notice to the mortgagee, or other person to whom the policy is made payable, if any, without tendering any part of the premium, anything to the contrary in the policy notwithstanding.
[C97, §1728; S13, §1728; C24, 27, 31, 35, 39, §8960; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.81]
87 Acts, ch 132, §4; 88 Acts, ch 1112, §405; 90 Acts, ch 1234, §39; 2007 Acts, ch 152, §10, 59
CS2007, §515.126
2011 Acts, ch 70, §30
Referred to in §515.115, 515F.39
See §515D.5, 515D.7
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.128 - Nonrenewal of commercial lines policies or contracts.

515.128 Nonrenewal of commercial lines policies or contracts.
1. An insurer shall not fail to renew a commercial line policy or contract of insurance except by notice to the named insured as provided in this section.
2. A notice of nonrenewal is not effective unless mailed or delivered by the insurer to the named insured and any loss payee at least forty-five days prior to the expiration date of the policy. If the insurer fails to meet the notice requirements of this section, the insured has the option of continuing the policy for the remainder of the notice period plus an additional thirty days at the premium rate of the existing policy or contract. A post office department certificate of mailing to the named insured at the address shown in the policy or contract is proof of receipt of the mailing.
3. This section applies to all forms of commercial property and casualty insurance written pursuant to this chapter. It does not apply if the insurer has offered to renew or if the insured fails to pay a premium due or any advance premium required by the insurer for renewal. A notice of nonrenewal is not required if the insured is transferred from an insurer to an insurance company admitted in Iowa which is an affiliate of, as defined in section 521A.1, the transferring insurer and all of the following conditions are met:
a. The transfer does not result in an interruption in coverage.
b. The rating of the affiliate from the A.M. Best company or a substitute rating service acceptable to the commissioner is the same or better than the rating of the transferring insurer.
c. The transfer results in the same or broader coverage.
d. Notice of the transfer is delivered to the insured or sent by first class mail to the insured’s last known address not less than forty-five days prior to the transfer. The notice required by this paragraph is not required in the event that the insured requests or consents to the transfer.
e. The notice of transfer provides the name and telephone number of the insured’s insurance producer, agent, or agency, if any.
88 Acts, ch 1112, §407
C89, §515.81B
2002 Acts, ch 1111, §18; 2007 Acts, ch 152, §12
CS2007, §515.128
2013 Acts, ch 124, §19; 2015 Acts, ch 128, §24, 50, 51
Referred to in §515.125, 515.126, 515.129, 515D.7, 515F.39
See §515D.7
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.128A - Material changes in commercial lines policies or contracts — notice required.

515.128A Material changes in commercial lines policies or contracts — notice required.
1. If an insurer has an increase in the premium rates of twenty-five percent or more, an increase in the deductible of twenty-five percent or more, or a material reduction in the limits or coverage of the policy or contract, the insurer shall notify the named insured by a letter of explanation of the changes by mail at least forty-five days prior to the expiration date of the policy or contract. However, a premium charge that is assessed after the beginning date of the policy or contract period for which the premium is due shall not be deemed a premium increase for the purposes of this section.
2. If the insurer fails to meet the notice requirements of this section, the named insured has the option of continuing the policy or contract for the remainder of the notice period plus an additional thirty days at the premium rate of the existing policy or contract. A post office department certificate of mailing to the named insured at the address shown in the policy or contract is proof of receipt of the mailing.
2013 Acts, ch 124, §20
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.129A - Cancellation of personal lines policies or contracts.

515.129A Cancellation of personal lines policies or contracts.
1. After a personal lines policy or contract of insurance has been in effect for sixty days or more, the policy or contract shall not be canceled except by notice to the insured as provided in this chapter.
2. Notice of cancellation of a personal lines policy or contract of insurance is not effective unless the cancellation is based on one or more of the following reasons:
a. Nonpayment of premium.
b. Failure to pay dues or fees where payment of dues or fees is a prerequisite to obtaining or continuing insurance coverage in force.
c. Discovery of fraud or material misrepresentation made by or with the knowledge of the named insured in obtaining, continuing, or presenting a claim under the policy.
d. Actions by the insured which substantially change or increase the risk insured.
e. The insured has acted in a manner which the insured knew or should have known was in violation or breach of a term or condition of the insurance policy or contract.
f. The occurrence of a change in the risk that substantially increases a hazard insured against after insurance coverage has been issued or renewed.
2010 Acts, ch 1121, §19; 2011 Acts, ch 70, §31
Referred to in §515.125, 515.126, 515D.5, 515J.9
See §515D.5
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.129B - Nonrenewal of personal lines policies or contracts.

515.129B Nonrenewal of personal lines policies or contracts.
1. An insurer shall not refuse to renew a personal lines policy or contract of insurance unless at least thirty days before the end of the policy or contract period the insurer delivers, mails, or electronically transmits to the first named insured, at the last known address of the first named insured, written notice of the insurer’s intention not to renew the policy or contract upon expiration of the current policy or contract period as provided in section 515.129C. Proof of such mailing, electronic transmission, or delivery to the first named insured’s last known address shall be maintained by the insurer.
2. The notice of intention not to renew shall include or be accompanied by a written explanation of the insurer’s specific reason or reasons for the nonrenewal.
3. The transfer of a policy between affiliates of an insurance company shall not be considered a nonrenewal.
2010 Acts, ch 1121, §20
Referred to in §515.125, 515.126, 515D.7, 515J.9
See §515D.7
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.129C - Notice of renewal or nonrenewal of personal lines policies or contracts.

515.129C Notice of renewal or nonrenewal of personal lines policies or contracts.
1. At least thirty days before the end of the policy or contract term, an insurer shall mail or deliver to the last known address of the first named insured a renewal policy or contract, an offer to renew the current policy or contract, or a notice of nonrenewal of the policy or contract. Information concerning the renewal policy or contract, the offer to renew the policy or contract, or the notice of nonrenewal of the policy or contract shall also be mailed, delivered, or transmitted electronically to the last known address of the producer of record of the policy or contract.
a. An offer to renew the policy or contract shall state the renewal premium and the date that the premium is due. The renewal premium shall be based on the known exposure as of the date of the offer to renew.
b. If the renewal premium is not received by the due date or the policy or contract expiration date, whichever is later, the policy or contract lapses.
2. If an insurer fails to comply with the notice requirements of this section, the policy or contract shall be extended on the same terms and conditions for another policy or contract term or until the effective date of similar insurance procured by the insured, whichever is earlier. The insurer may make continued coverage contingent upon the payment of premium.
3. Renewal of a policy or contract does not constitute a waiver or estoppel with respect to grounds for cancellation that existed before the effective date of the renewal.
2010 Acts, ch 1121, §21
Referred to in §515.125, 515.126, 515.129B, 515D.7, 515J.9
See §515D.7
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.130 - Short rates.

515.130 Short rates.
The commissioner of insurance shall prepare and promulgate tables of the short rates provided for in section 515.132, for the various kinds and classes of insurance governed by the provisions of this chapter, which, when promulgated, shall be for the guidance of all companies covered in this chapter and shall be the rate to be given in any notice therein required. No company shall discriminate unfairly between like assureds in the rate or rates so provided.
[C97, §1729; C24, 27, 31, 35, 39, §8961; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.82]
2007 Acts, ch 152, §14, 61; 2007 Acts, ch 215, §256
CS2007, §515.130
2008 Acts, ch 1074, §11
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.131 - Policy restored.

515.131 Policy restored.
At any time before cancellation of the policy for nonpayment of any premium, assessment, or installment provided for therein, or in any note or contract for the payment thereof, or after action commenced or judgment rendered thereon, the insured may pay to the insurer the full amount due, including court costs if any, and from the date of such payment, or the collection of the judgment, the policy shall revive and be in full force and effect, provided such payment is made during the term of the policy and before a loss occurs.
[C97, §1730; C24, 27, 31, 35, 39, §8962; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.83]
2007 Acts, ch 152, §15
CS2007, §515.131
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.132 - Right of insured to cancel.

515.132 Right of insured to cancel.
No provision, stipulation, or agreement to the contrary in or independent of the policy or contract of insurance shall avoid or defeat the right of any insured to pay short rates and costs of action, if any, and have the policy and all contracts connected therewith, including judgments rendered thereon, canceled.
[C97, §1730; C24, 27, 31, 35, 39, §8963; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.84]
2007 Acts, ch 152, §16
CS2007, §515.132
Referred to in §515.130
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.133 - Copy of application — duty to provide.

515.133 Copy of application — duty to provide.
All insurance companies or associations shall, upon the issue or renewal of any policy, provide to the insured, a true copy of any application or representation of the insured which, by the terms of such policy, is made a part of the policy, or of the contract of insurance, or referred to in the contract of insurance, or which may in any manner affect the validity of such policy.
[C97, §1741; C24, 27, 31, 35, 39, §8974; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.94]
95 Acts, ch 185, §22; 2007 Acts, ch 152, §20
CS2007, §515.133
Referred to in §515.134
Similar provision, §511.33
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.134 - Failure to attach — effect.

515.134 Failure to attach — effect.
The omission so to do shall not render the policy invalid, but if any company or association neglects to comply with the requirements of section 515.133, the company or association shall forever be precluded from pleading, alleging, or proving any such application or representations, or any part thereof, or falsity thereof, or any parts thereof, in any action upon the policy, and the plaintiff in any such action shall not be required, in order to recover against the company or association, either to plead or prove such application or representation, but may do so at the plaintiff’s option.
[C97, §1741; C24, 27, 31, 35, 39, §8975; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.95]
2007 Acts, ch 152, §21, 62
CS2007, §515.134
2016 Acts, ch 1011, §98
Similar provision, §511.34
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.136 - Value of building — liability.

515.136 Value of building — liability.
An insurance company or association shall be liable for the actual cash value of the property insured at the date of the loss, unless such value exceeds the amount stated in the policy.
[C97, §1742; C24, 27, 31, 35, 39, §8977; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.97]
2007 Acts, ch 152, §23
CS2007, §515.136
2013 Acts, ch 124, §21
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515 - INSURANCE OTHER THAN LIFE › Section 515.137 - Prima facie right of recovery.

515.137 Prima facie right of recovery.
In an action on such policy it shall only be necessary for the insured to prove the loss of the building insured, and that the insured has given the company or association notice in writing of such loss, accompanied by an affidavit stating the facts as to how the loss occurred, so far as they are within the insured’s knowledge, and the extent of the loss.
[C97, §1742; C24, 27, 31, 35, 39, §8978; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.98]
2007 Acts, ch 152, §24, 63
CS2007, §515.137
Similar provisions, §511.35, 514A.3, 518A.19