508C.2 Purpose.
1. The purpose of this chapter is to protect, subject to certain limitations, the persons specified in section 508C.3, subsection 1, against failure in the performance of contractual obligations under life, health, and annuity policies, plans, or contracts specified in section 508C.3, subsection 2, because of the impairment or insolvency of the member insurer which issued the policies, plans, or contracts.
2. To provide this protection, an association of member insurers is created to enable the guaranty of payments of benefits and continuation of coverages as limited by this chapter. Members of the association are subject to assessment to provide funds to carry out the purpose of this chapter.
87 Acts, ch 223, §2; 2019 Acts, ch 12, §2, 35, 36
Referred to in §508C.4
2019 amendment applies beginning March 29, 2019; 2019 Acts, ch 12, §35, 36
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.