514.15 - NONEXEMPT FROM TAXATION.

        514.15  NONEXEMPT FROM TAXATION.         Every corporation organized under the provisions of this chapter      is hereby declared to be a charitable and benevolent institution but      its property and funds, including subscribers' contracts, shall not      be exempt from taxation.  For purposes of this section, the term      "subscriber contract" shall mean only those benefit contracts issued      or delivered in Iowa by corporations subject to this chapter,      including certificates issued under such contracts, and which provide      coverage to residents of Iowa on a risk basis.  
         Section History: Early Form
         [C39, § 8895.15; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79,      81, § 514.15; 82 Acts, ch 1003, § 6] 
         Section History: Recent Form
         85 Acts, ch 239, §3         Rate of tax; §432.2