Iowa Admin. Code r. 191-6.3

Current through Register Vol. 47, No. 6, September 18, 2024

Rule 191-6.3 - Escrow

All public moneys shall be escrowed 100 percent until the issue is sold unless sooner released by written order of the commissioner of insurance; in the event the issue is not completely sold, all expenses incurred in corporate organization, sale of securities and cost of liquidation shall be paid from funds acquired from promoters.