507.1 - PURPOSE -- DEFINITIONS.

        507.1  PURPOSE -- DEFINITIONS.         1.  The purpose of this chapter is to provide an effective and      efficient system for examining the activities, operations, financial      condition, and affairs of all persons transacting the business of      insurance in this state and all persons otherwise subject to the      jurisdiction of the commissioner.  The chapter is intended to enable      the commissioner to adopt a flexible system of examinations which      directs resources as deemed appropriate and necessary for the      administration of the insurance and insurance-related laws of this      state.         2.  As used in this chapter, unless the context otherwise      requires:         a.  "Commissioner" means the commissioner of insurance of      this state.         b.  "Company" means any person engaging in or proposing or      attempting to engage in any transaction or kind of insurance or      surety business and any person or group of persons who may otherwise      be subject to the administrative, regulatory, or taxing authority of      the commissioner.         c.  "Division" means the division of insurance of the      department of commerce.         d.  "Examiner" means any individual or firm authorized by      the commissioner to conduct an examination pursuant to this chapter.         e.  "Insurer" includes all companies or associations      organized under chapter 508, 511, 512A, 512B, 514, 514B, 515, 515C,      or 518A, associations subject to chapters 518 and 520, and companies      or associations admitted or seeking to be admitted to this state      under any of those chapters.         f.  "Person" means any individual, aggregation of      individuals, trust, association, partnership, or corporation or an      affiliate of any of these.  
         Section History: Early Form
         [S13, § 1821-i; C24, 27, 31, 35, 39, § 8625; C46, 50, 54, 58,      62, 66, 71, 73, 75, 77, 79, 81, § 507.1] 
         Section History: Recent Form
         88 Acts, ch 1112, § 301; 92 Acts, ch 1117, § 1