508D.4 - FACILITY ESTABLISHED.

        508D.4  FACILITY ESTABLISHED.         The facility may be created by one or more life and health      insurance guaranty associations for the purpose set out in section      508D.2.  The name of the facility shall be the multistate life and      health insurance resolution facility.  A life and health insurance      guaranty association or other entity as approved by the board may      elect to become a member of the association.  The facility shall      perform its functions under a plan of operation established and      approved under section 508D.7 and shall exercise its powers through a      board of directors established under section 508D.5.  Only one      facility shall be established pursuant to this chapter.  
         Section History: Recent Form
         94 Acts, ch 1011, §4         Referred to in § 508D.3