Iowa Admin. Code r. 191-46.3 - Application-contents-process
(1) An application
shall be designated as either:
a. A limited
application , or
b. A standard
application .
The filing of a
(2) The application shall be filed in
triplicate with the commissioner and shall include the following information:
a. Designation as a limited or standard
application .
c. A plan to obtain the approval of the
policyholders in accordance with the applicant's articles of incorporation and
bylaws. Policyholders shall be given not less than 20 days' notice of any vote
on approval of reorganization.
d. A
copy of the mutual insurance holding company 's proposed articles of
incorporation and bylaws specifying all membership rights.
e. The names, addresses and occupational
information of all corporate officers and members of the initial mutual
insurance holding company board of directors.
f. Information sufficient to demonstrate that
the financial condition of the applicant will not be diminished upon
reorganization.
g. A copy of the
proposed articles of incorporation and bylaws for any insurance company
subsidiary or intermediate holding company subsidiary.
h. A "Form A" filing as described in
191-Chapter 45, Iowa Administrative Code.
i. An index demonstrating where in the
application information supplied in compliance with each of these rules is
found.
j. Any other information
requested by the commissioner at any time during the course of
proceedings.
(3) Upon
receipt and review by the commissioner of all information provided pursuant to
46.3(2), a hearing shall be held as provided in Iowa Code section
521A.3,
subsection 4, paragraph"b." The applicant shall present
evidence establishing:
a. The application is
in compliance with all pertinent Iowa Code sections and administrative rules;
and
b. The requirements for a plan
of reorganization have been fulfilled.
Notice of the hearing shall be given at least 20 days prior to the hearing by the insurance division by regular mail to all interested parties known to the division.
Notes
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