Iowa Code § 523A.605

Current through bills signed by governor as of 5/17/2024
Section 523A.605 - Allocation of growth or interest

If a purchase agreement funded by insurance proceeds under section 523A.401 or by annuity proceeds under section 523A.402 includes nonguaranteed merchandise or services, the purchaser, beneficiary, or the beneficiary's estate shall receive a credit for, and the benefit of, any growth in death benefits that is at least equal to the percentage of the total price under the purchase agreement that is attributable to the nonguaranteed merchandise or services.

Iowa Code § 523A.605

Added by 2022 Iowa, ch 1047, s 6, eff. 7/1/2022.

Referred to in §523A.807