Iowa Code 518B.3 – Secretary reimbursed
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Terms Used In Iowa Code 518B.3
- property: includes personal and real property. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- year: means twelve consecutive months. See Iowa Code 4.1
518B.3 Secretary reimbursed.
The commissioner shall reimburse the secretary in an amount up to five percent of the
aggregate property, except farm property insurance premiums earned in this state during the calendar year immediately preceding the calendar year with respect to which the secretary paid losses on lines of insurance reinsured by the secretary in this state during that year and for which the secretary claims reimbursement from the fund in accordance with the Act.
[C71, 73, 75, 77, 79, 81, §518B.3]
The commissioner shall reimburse the secretary in an amount up to five percent of the
aggregate property, except farm property insurance premiums earned in this state during the calendar year immediately preceding the calendar year with respect to which the secretary paid losses on lines of insurance reinsured by the secretary in this state during that year and for which the secretary claims reimbursement from the fund in accordance with the Act.
[C71, 73, 75, 77, 79, 81, §518B.3]