Iowa Code 519A.8 – Participation
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Terms Used In Iowa Code 519A.8
- 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
519A.8 Participation.
All members of the association shall participate in its writings, expenses, servicing
allowance, management fees and losses in the proportion that the net direct premiums of each member, excluding that portion of premiums attributable to the operation of the association, written during the preceding calendar year bears to the aggregate net direct premiums written in this state by all members of the association. Each member’s proportion shall be determined annually on the basis of the annual statements and other reports filed by the insurer with the commissioner.
[C77, 79, 81, §519A.8]
Referred to in §519A.1, 519A.2, 519A.3, 519A.4, 519A.5, 519A.10, 519A.13
All members of the association shall participate in its writings, expenses, servicing
allowance, management fees and losses in the proportion that the net direct premiums of each member, excluding that portion of premiums attributable to the operation of the association, written during the preceding calendar year bears to the aggregate net direct premiums written in this state by all members of the association. Each member’s proportion shall be determined annually on the basis of the annual statements and other reports filed by the insurer with the commissioner.
[C77, 79, 81, §519A.8]
Referred to in §519A.1, 519A.2, 519A.3, 519A.4, 519A.5, 519A.10, 519A.13