1. A stock life insurance company shall not be authorized to transact business under
this chapter with less than five million dollars of capital and surplus paid in cash
or invested as provided by law. A stock life insurance company shall not increase its capital stock unless the amount
of the increase is fully paid in cash. A stock life insurance company authorized to do business in Iowa that undergoes
a change of control as defined under chapter 521A shall maintain the minimum capital
and surplus requirements mandated by this section.
2. Notwithstanding subsection 1, a stock life insurance company, or any other life
insurance company authorized to transact business under this chapter, shall comply
with the minimum capital and surplus requirements of this chapter or chapter 521E,
whichever is greater.
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