Iowa Code § 512B.21: Investments.

A society shall invest the society’s funds only as authorized by the laws of this state for the investment of assets of life insurers and subject to the same limitations. A foreign or alien society permitted or seeking to do business in this state which invests its funds in accordance with the laws of the state or nation in which the foreign or alien society is incorporated, shall be held to meet the requirements of this section for the investment of funds.