Iowa Code
Chapter 515 - INSURANCE OTHER THAN LIFE
Section 515.63 - Annual statement.

515.63 Annual statement.
The president or the vice president and secretary of each company organized or authorized to do business in the state shall annually on or before the first day of March of each year prepare under oath and file with the commissioner of insurance or a depository designated by the commissioner a full, true, and complete statement of the condition of such company on the last day of the preceding year, which shall exhibit the following items and facts:
1. The amount of capital stock of the company.
2. The names of the officers.
3. The name of the company and where located.
4. The amount of its capital stock paid up.
5. The property or assets held by the company, specifying:
a. The value of real estate owned by the company.
b. The amount of cash on hand and deposited in banks to the credit of the company, and in what bank deposited.
c. The amount of cash in the hands of agents and in the course of transmission.
d. The amount of loans secured by first mortgage on real estate, with the rate of interest thereon.
e. The amount of all other bonds and loans and how secured, with the rate of interest thereon.
f. The amount due the company on which judgment has been obtained.
g. The amount of bonds of the state, of the United States, of any county or municipal corporation of the state, and of any other bonds owned by the company, specifying the amount and number thereof, and par and market value of each kind.
h. The amount of bonds, stock, and other evidences of indebtedness held by such company as collateral security for loans, with amount loaned on each kind, and its par and market value.
i. The amount of assessments on stock and premium notes, paid and unpaid.
j. The amount of interest actually due and unpaid.
k. All other securities and their value.
l. The amount for which premium notes have been given on which policies have been issued.
6. Liabilities of such company, specifying:
a. Losses adjusted and due.
b. Losses adjusted and not due.
c. Losses unadjusted.
d. Losses in suspense and the cause thereof.
e. Losses resisted and in litigation.
f. Dividends in scrip or cash, specifying the amount of each, declared but not due.
g. Dividends declared and due.
h. The amount required to reinsure all outstanding risks on the basis of the unearned premium reserve as required by law.
i. The amount due banks or other creditors.
j. The amount of money borrowed and the security therefor.
k. All other claims against the company.
7. The income of the company during the previous year, specifying:
a. The amount received for premiums, exclusive of premium notes.
b. The amount of premium notes received.
c. The amount received for interest.
d. The amount received for assessments or calls on stock notes, or premium notes.
e. The amount received from all other sources.
8. The expenditures during the preceding year, specifying:
a. The amount of losses paid during said term, stating how much of the same accrued prior, and how much subsequent, to the date of the preceding statement, and the amount at which such losses were estimated in such statement.
b. The amount paid for dividends.
c. The amount paid for commissions, salaries, expenses, and other charges of agents, clerks, and other employees.
d. The amount paid for salaries, fees, and other charges of officers and directors.
e. The amount paid for local, state, national and other taxes and duties.
f. The amount paid for all other expenses, including printing, stationery, rents, furniture, or otherwise.
9. The largest amount insured in any one risk.
10. The amount of risks written during the year then ending.
11. The amount of risks in force having less than one year to run.
12. The amount of risks in force having more than one and not over three years to run.
13. The amount of risks having more than three years to run.
14. The dividends, if any, declared on premiums received for risks not terminated.
15. All other information as required by the national association of insurance commissioners’ annual statement blank. The annual statement blank shall be prepared in accordance with instructions prescribed by the commissioner. All financial information reflected in the annual report shall be kept and prepared in accordance with accounting practices and procedures prescribed by the commissioner. The commissioner may adopt by reference the annual statement handbook and the accounting practices and procedures manual of the national association of insurance commissioners.
[C73, §1141; C97, §1714; C24, 27, 31, 35, 39, §8945; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.63]
91 Acts, ch 26, §41; 2003 Acts, ch 91, §35; 2016 Acts, ch 1011, §97
Referred to in §515.146, 515H.2

Structure Iowa Code

Iowa Code

Title XIII - COMMERCE

Chapter 515 - INSURANCE OTHER THAN LIFE

Section 515.1 - Applicability.

Section 515.2 - Articles — approval — bylaws.

Section 515.3 - Certificate — recording.

Section 515.4 - Name.

Section 515.5 - Filing with commissioner.

Section 515.7 - Stock and mutual plan distinguished.

Section 515.8 - Paid-up capital and surplus required.

Section 515.9 - Reduction of capital or shares.

Section 515.10 - Subscriptions of stock — applications.

Section 515.11 - Prohibited loans.

Section 515.11A - Transfer of stock.

Section 515.12 - Mutual companies — conditions.

Section 515.12A - Alternative minimum surplus levels.

Section 515.13 - Reservation.

Section 515.14 - Membership in mutuals.

Section 515.15 - Voting power.

Section 515.16 - Maximum premium.

Section 515.17 - Unearned premiums.

Section 515.18 - Assessments.

Section 515.19 - Advancement of funds.

Section 515.20 - Guaranty capital.

Section 515.21 - Additional policy provisions.

Section 515.22 - Countersigning policies.

Section 515.23 - Prohibited loans.

Section 515.24 - Tax — computation.

Section 515.25 - Remote participation in shareholders’, members’, or policyholders’ meetings.

Section 515.26 - Directors.

Section 515.27 - Election.

Section 515.28 - Term of office.

Section 515.29 - Classification of directors.

Section 515.30 - Election of officers.

Section 515.31 - Filling of vacancies.

Section 515.32 - Bylaws.

Section 515.33 - Record and inspection.

Section 515.35 - Investments.

Section 515.36 - Financial statements — mutual companies.

Section 515.37 - Subsidiary companies.

Section 515.38 - Examination — certificate of compliance.

Section 515.39 - Ownership of assets — oath.

Section 515.40 - Form of certificate.

Section 515.41 - Certificate of authority.

Section 515.42 - Tenure of certificate — renewal — evidence.

Section 515.44 - Dividends.

Section 515.45 - Reserve fund required.

Section 515.46 - Forfeiture of certificate of authority.

Section 515.47 - Unearned premium reserve — computation.

Section 515.48 - Kinds of insurance.

Section 515.49 - Limitation on risks.

Section 515.50 - Loans — reinsurance.

Section 515.51 - Policies — execution — requirements.

Section 515.52

Section 515.53

Section 515.54

Section 515.55

Section 515.56

Section 515.57

Section 515.58

Section 515.59

Section 515.60

Section 515.61

Section 515.62 - Transfer of stock.

Section 515.63 - Annual statement.

Section 515.64 - Accident insurance — record.

Section 515.66 - Annual statement of foreign company.

Section 515.67 - Inquiry by commissioner.

Section 515.68 - Changes in forms of statements.

Section 515.68A - Foreign companies — reinsurance.

Section 515.69 - Foreign companies — capital and surplus required.

Section 515.70 - Alien insurer defined.

Section 515.71 - Deposit of securities — amount.

Section 515.72 - Insolvency of company — procedure.

Section 515.73 - Additional statements — impaired capital.

Section 515.74 - Foreign mutual companies — surplus.

Section 515.75 - Certificate to foreign company.

Section 515.76 - Commissioner as process agent.

Section 515.77 - Service of process.

Section 515.78 - Foreign companies may become domestic.

Section 515.79 - Notes taken for insurance.

Section 515.91 - False statement of assets.

Section 515.92 - Statement of capital and surplus.

Section 515.93 - Violations.

Section 515.100 - Nature of organization entered on policy.

Section 515.101 - Conditions and stipulations invalidating policy — avoidance — pleadings — applicability.

Section 515.102 - Forms of policies and endorsements — approval.

Section 515.103 - Use of credit information — personal insurance.

Section 515.104 - Coinsurance or contribution clause.

Section 515.105 - Agency relationship.

Section 515.106 - Limitation on termination of independent producers.

Section 515.107 - Applicability to organizations and individuals.

Section 515.108 - Insurance in unauthorized companies.

Section 515.109 - Fire insurance contract — standard policy provisions — permissible variations.

Section 515.110 - More favorable conditions.

Section 515.111 - Nuclear loss or damage excluded.

Section 515.112 - Violations — status of policy.

Section 515.113 - Existing statutes — waiver.

Section 515.114 - Policy — formal execution.

Section 515.115 - Certificates of insurance — penalty.

Section 515.120 - Business with nonadmitted insurers.

Section 515.121 - Administrative penalty.

Section 515.122 - Banned companies — information required.

Section 515.123

Section 515.124

Section 515.125 - Forfeiture of policies — notice.

Section 515.126 - Cancellation of policy — notice to insured or mortgagee.

Section 515.127 - Cancellation of commercial lines policies or contracts.

Section 515.128 - Nonrenewal of commercial lines policies or contracts.

Section 515.128A - Material changes in commercial lines policies or contracts — notice required.

Section 515.129 - Cancellation or nonrenewal of commercial umbrella or excess policies or contracts.

Section 515.129A - Cancellation of personal lines policies or contracts.

Section 515.129B - Nonrenewal of personal lines policies or contracts.

Section 515.129C - Notice of renewal or nonrenewal of personal lines policies or contracts.

Section 515.130 - Short rates.

Section 515.131 - Policy restored.

Section 515.132 - Right of insured to cancel.

Section 515.133 - Copy of application — duty to provide.

Section 515.134 - Failure to attach — effect.

Section 515.135 - Presumption as to value.

Section 515.136 - Value of building — liability.

Section 515.137 - Prima facie right of recovery.

Section 515.137A - Post-loss assignment of rights or benefits to a residential contractor.

Section 515.138 - Notice of loss of or damage to personal property by hail.

Section 515.139 - Demolition reserve on fire and casualty claims on property.

Section 515.140 - Unlawful combinations — exceptions.

Section 515.141 - Examination of officers and employees.

Section 515.142 - Transfers pending investigation.

Section 515.143 - Revocation of certificate of foreign company.

Section 515.144 - Suspension and summary suspension.

Section 515.145 - Revocation of authority.

Section 515.146 - Certificate refused — administrative penalty.

Section 515.147 - Fees.

Section 515.148 - Expenses of examination.

Section 515.149 - Compliance with law.

Section 515.150 - Violations.

Section 515.151 - Officers punished.

Section 515.152 - Judicial review.

Section 515.153 - Incrimination.