Iowa Code 521G.8 – Supervision, rehabilitation, or liquidation of a protected cell company
Current as of: 2024 | Check for updates
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Terms Used In Iowa Code 521G.8
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
521G.8 Supervision, rehabilitation, or liquidation of a protected cell company.
1. Upon an order of supervision, rehabilitation, or liquidation of a protected cell company,
a receiver shall manage a protected cell company’s assets and liabilities, including protected cell assets and protected cell liabilities, as provided in this chapter.
2. An amount recoverable by a receiver under a protected cell company insurance securitization shall not be reduced or diminished as a result of the entry of an order of supervision, rehabilitation, or liquidation with respect to the protected cell company, notwithstanding contrary provisions in a contract or other document governing the protected cell company insurance securitization.
2000 Acts, ch 1046, §8; 2021 Acts, ch 76, §150
For future repeal of this section, effective January 1, 2025, see 2023 Acts, ch 107, §30
1. Upon an order of supervision, rehabilitation, or liquidation of a protected cell company,
a receiver shall manage a protected cell company’s assets and liabilities, including protected cell assets and protected cell liabilities, as provided in this chapter.
2. An amount recoverable by a receiver under a protected cell company insurance securitization shall not be reduced or diminished as a result of the entry of an order of supervision, rehabilitation, or liquidation with respect to the protected cell company, notwithstanding contrary provisions in a contract or other document governing the protected cell company insurance securitization.
2000 Acts, ch 1046, §8; 2021 Acts, ch 76, §150
For future repeal of this section, effective January 1, 2025, see 2023 Acts, ch 107, §30