518B.3 Secretary reimbursed.
79 words·~1 min read·
/ia/chapter-518b-riot-reinsurance-program/518b-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The commissioner shall reimburse the secretary in an amount up to five percent of the aggregate property, except farm property insurance premiums earned in this state during the calendar year immediately preceding the calendar year with respect to which the secretary paid losses on lines of insurance reinsured by the secretary in this state during that year and for which the secretary claims reimbursement from the fund in accordance with the Act.
[C71, 73, 75, 77, 79, 81, §518B.3]