Iowa Code § 514.15

Current through bills signed by governor as of 5/17/2024

Section 514.15 - Nonexempt from taxation

Every corporation organized under chapter 504, Code 1989, or current chapter 504, and governed by 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.

Iowa Code § 514.15

Amended by 2017 Iowa, ch 29,s 149, eff. 7/1/2017.

C39, § 8895.15; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 514.15; 82 Acts, ch 1003, §685 Acts, ch 239, §3

Rate of tax; §432.2