521E.9 - SUPPLEMENTAL PROVISIONS -- RULES -- EXEMPTION.
521E.9 SUPPLEMENTAL PROVISIONS -- RULES -- EXEMPTION. 1. The provisions of this chapter are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the commissioner under such laws, including, but not limited to, chapter 507C. 2. The commissioner may adopt rules pursuant to chapter 17A necessary for the administration of this chapter. 3. The commissioner may exempt from the application of this chapter any domestic property and casualty insurer which satisfies all of the following: a. Writes direct business only in this state. b. Writes direct annual premiums of one million dollars or less. c. Does not assume reinsurance in excess of five percent of direct premiums written.
Section History: Recent Form 96 Acts, ch 1046, §17