COMPILED CODE - Iowa Legislature - State of Iowa

370
§§ 5556-5564. FRATERNAL BENEFICIARY SOCIETIES. Tit. XVIII, Ch. 6.
44 lently, or if it shall fail to make the statement required by law, he
45 may. revoke its authority and prohibit it from doing business until
46 it shall again comply with the provisions of this chapter.
47 If the commissioner appoints some one not receiving a regular
48 salary in his office to make this examination, such examiner shall
49 receive ten dollars per day for his services in addition to his actual
50 traveling and hotel expenses, to be paid by the association examined,
51 or by the state on the approval of the executive council, if the asso-
52 dation fails to pay the same.
53 The provisions of this section shall apply to fraternal beneficiary
54 associations doing exclusively an accident insurance business, and
55 upon compliance with the provisions of this chapter, and the provi-
56 sions of chapter five of title eighteen, so far as the same are appli-
57 cable, such associations may be authorized to transact business within
58 this state.
[C, '97, § 1794; S., '13, § 1794; 39 G. A., ch. 58, § 2.]
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CHAPTER 6.
FRATERNAL BENEFICIARY SOCIETIES, ORDERS OR ASSOCIATIONS.
SECTION 5556. Insurable age—beneficiary.
No fraternal association created or organized under the provisions
of this chapter shall issue any certificate of membership to any
person under the age of fifteen years, nor over the age of sixty-five
years, nor unless the beneficiary under said certificate shall be the
wife, husband, relative by blood to the fourth degree, father-in-law,
mother-in-law, son-in-law, daughter-in-law, step-father, step-mother,
step-children, children by legal adoption, legal representative or to a
person or persons dependent upon the member; provided that if after
the issuance of the original certificate the member shall become dependent
upon an incorporated charitable institution, he shall have the
privilege, with the consent of the governing body or board of the
society, to make such institution his beneficiary. Within the above
restrictions each member shall have the right to designate his beneficiary
and from time to time have the same changed in accordance
with the laws, rules or regulations of the society, and no beneficiary
shall have or obtain any vested interest in said benefit until the same
has become due and payable upon the death of said member, provided
that any society may, by its laws, limit the scope of beneficiaries within
the above classes; provided further, that any association or society,
whose articles of incorporation, or constitution, or rules, or bylaws,
provide that at the time of the admission to membership into
such society, every member, when joining shall belong to one occupation
or guild, may become a beneficiary as may be provided in its
articles of incorporation, or constitution, or rules, or by-laws.
[C, '97, § 1824; 38 G. A., ch. 240, § 1 ; 39 G. A., ch. 240, § 1.]
SEC. 5564. Annual certificate—amount of insurance required.
1 Before any beneficiary society, order or association shall be au-
2 thorized to commence business within this state, it shall submit to