515.17 - UNEARNED PREMIUMS. - Iowa Statutes

515.17 UNEARNED PREMIUMS. Such mutual company shall maintain unearned premium and other reserves separately for each kind of insurance, upon the same basis as that required of domestic insurance companies transacting the same kind of insurance; provided that any reserve for losses or claims based upon the premium income shall be computed upon the net premium income, after deducting any so-called dividend or premium returned or credited to the member.          Section History: Early Form [C24, 27, 31, 35, 39, § 8910; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 515.17]