# Iowa Code § 508C.2: Purpose

> Iowa · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.2

## Section

- **Citation:** Iowa Code § 508C.2
- **Heading:** Purpose
- **Jurisdiction:** Iowa
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** IA Code / Title XIII / Chapter 508C / Section 508C.2

## Text

(1) The purpose of this chapter is to protect, subject to certain limitations, the persons specified in section 508C.3, subsection 1, against failure in the performance of contractual obligations under life, health, and annuity policies, plans, or contracts specified in section 508C.3, subsection 2, because of the impairment or insolvency of the member insurer which issued the policies, plans, or contracts.

(2) To provide this protection, an association of member insurers is created to enable the guaranty of payments of benefits and continuation of coverages as limited by this chapter. Members of the association are subject to assessment to provide funds to carry out the purpose of this chapter.

87 Acts, ch 223, §2; 2019 Acts, ch 12, §2, 35, 36

## Nearby sections

- [Iowa Code § 508C.1 Title.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.1.md)
- [Iowa Code § 508C.2 Purpose.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.2.md)
- [Iowa Code § 508C.3 Scope.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.3.md)
- [Iowa Code § 508C.4 Construction.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.4.md)
- [Iowa Code § 508C.5 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.5.md)
- [Iowa Code § 508C.6 Creation of association.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.6.md)
- [Iowa Code § 508C.7 Board of directors.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.7.md)
- [Iowa Code § 508C.8 Powers and duties of association.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.8.md)
- [Iowa Code § 508C.8A Principal place of business determination.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.8A.md)
- [Iowa Code § 508C.9 Assessments.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.9.md)
- [Iowa Code § 508C.10 Plan of operation.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.10.md)
- [Iowa Code § 508C.11 Duties and powers of commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.11.md)
- [Iowa Code § 508C.12 Prevention of insolvencies.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.12.md)
- [Iowa Code § 508C.13 Miscellaneous provisions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.13.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C508C_S508C.2. Check the current official text before relying on it. Not legal advice.