For purposes of division III, the following definitions shall
apply:
"ACORD" means the Association for
Cooperative Operations Research and Development.
"Commercial real estate transaction" means a
non-recourse commercial lending transaction in which the underlying property
serves as the primary collateral securing the borrower's repayment of the loan
and neither the borrower nor any of its members, partners, or shareholders, nor
any related person to any of the aforementioned persons, bears the economic
risk of loss in the event of a payment default under the terms of the lending
transaction.
"Division" means the insurance
division.
"ISO" means the Insurance Services Office,
Inc.
Notes
Iowa Admin. Code r. 191-20.71
ARC 0133C, lAB 5/30/12,
effective 5/9/12
Amended by
IAB
May 5, 2021/Volume XLIII, Number 23, effective
6/9/2021
Adopted by
IAB
March 20, 2024/Volume XLVI, Number 19, effective
4/24/2024
