508C.19 Credits for assessments paid.
1. An insurer may offset an assessment made pursuant to section 508C.9 against its premium tax liability pursuant to chapter 432 to the extent of twenty percent of the amount of the assessment for each of the five calendar years following the year in which the assessment was paid. If an insurer ceases doing business, all uncredited assessments may be credited against its premium tax liability for the year it ceases doing business.
2. Sums acquired by refund from the association which have been written off by contributing insurers and offset against premium taxes as provided in subsection 1 and are not then needed for purposes of this chapter shall be paid by the association to the commissioner. The commissioner shall remit the moneys to the treasurer of state to deposit in the state general fund.
87 Acts, ch 223, §19
Structure Iowa Code
Chapter 508C - IOWA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION
Section 508C.4 - Construction.
Section 508C.6 - Creation of association.
Section 508C.7 - Board of directors.
Section 508C.8 - Powers and duties of association.
Section 508C.8A - Principal place of business — determination.
Section 508C.10 - Plan of operation.
Section 508C.11 - Duties and powers of commissioner.
Section 508C.12 - Prevention of insolvencies.
Section 508C.13 - Miscellaneous provisions.
Section 508C.14 - Examination of association — annual report.
Section 508C.15 - Tax exemptions.
Section 508C.16 - Immunity — indemnification.
Section 508C.17 - Stay of proceedings — reopening default judgments.
Section 508C.18 - Prohibited advertisements.
Section 508C.18A - Notice to policyholders — summary of chapter and disclosure.