SF 2361: Relating to the names of reorganized mutual insurance companies

What it does

This bill relates to the naming requirements for reorganized insurance companies. A domestic mutual insurance company that reorganizes by forming an insurance holding company may continue to use the word “mutual” in its name provided that its name also includes the words “stock insurer”, or the abbreviation “SI”. A domestic mutual insurance company that reorganizes by merging its policyholders’ membership interests into a mutual insurance holding company may continue to use the word “mutual” in its name provided that its name also includes the words “stock insurer”, or the abbreviation “SI”.

House subcommittee · named February 22, 2024

• Rep. Mike Vondran (R) · mike.vondran@legis.iowa.gov
• Rep. Brian Best (R)
• Rep. Kenan Judge (D) · kenan.judge@legis.iowa.gov

Lobbying · 1 for, 0 against

For: Grinnell Mutual Reinsurance Company

In plain words

1. February 15, 2024Filed in the Senate
2. February 15, 2024Approved by the Senate committee
3. February 21, 2024Passed the Senate, 46–0
4. February 21, 2024Arrived in the House
5. February 22, 2024House subcommittee named: Vondran, Best and Judge
6. February 29, 2024Subcommittee recommended passing it
7. March 14, 2024Approved by the House committee
8. March 26, 2024Passed the House, 95–0
9. April 10, 2024Sent to the Governor
10. April 10, 2024Signed into law