508.6 - DEPOSIT OF SECURITIES -- CERTIFICATE. - Iowa Statutes

508.6 DEPOSIT OF SECURITIES -- CERTIFICATE. Securities in the amount of the capital and surplus required under section 508.5 shall be deposited with the commissioner of insurance or at such places as the commissioner may designate. When the deposit is made and evidence furnished, by affidavit or otherwise, satisfactory to the commissioner, that the capital stock is all fully paid and the company possessed of the surplus required and that the company is the actual and unqualified owner of the securities representing the paid- up capital stock or other funds of the company, and all laws have been complied with, the commissioner shall issue the company the certificate provided for in this chapter.          Section History: Early Form [C73, § 1162; C97, § 1769; C24, 27, 31, 35, 39, § 8648; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 508.6; 82 Acts, ch 1095, § 1]          Section History: Recent Form 85 Acts, ch 228, §1