COMPILED CODE - Iowa Legislature - State of Iowa

371
Tit. XVÎII, Ch. 6. FRATERNAL BENEFICIARY SOCIETIES. §§ 5573-5576.
3 the commissioner of insurance its by-laws or rules by which it is to
4 be governed, and also its articles of incorporation, if a corporation,
5 which shall include its plan of business. The commissioner shall
6 thereupon submit its articles of incorporation to the attorney general
7 for examination, and if found by him to be in harmony with this
8 title, chapter and with law, he shall so certify upon said articles and
9 return them to the commissioner. If the commissioner shall approve
10 the articles and also the by-laws or rules, he shall issue to the society,
11 order or association a permit in writing, authorizing it to transact
12 business within this state for a period of one year from the first day
13 of April of the year of its issue, for which certificate and all proceed-
14 ings in connection therewith, there shall be paid to the commissioner
15 a fee of twenty-five dollars, and for each annual renewal thereof a
16 like fee shall be paid; provided, however, that before such certificate
17 shall be issued, the fraternal society, order or association shall have
18 actual bona fide applications upon the lives of at least five hundred
19 persons, residents of this state, for at least one thousand dollars of
20 insurance each, and the commissioner may require the presentation
21 of such applications, signed by the applicants themselves. No renewal
22 of certificate of authority shall be made to any society, order, or asso-
23 ciation whose membership, in good standing, or the amount of whose
24 insurance in force shall be reduced below the above requirements.
25 Societies, orders or associations not organized under the laws of this
26 state, in addition to the requirements of the provisions of section
27 fifty-five hundred sixty-one of the compiled code must also comply
28 with all of the provisions of this chapter, except as to the residence
29 of membership; provided that no such society, order or association
30 shall be authorized to transact business within this state unless it
31 shall be shown to have actual members, in good standing, of at least
32 one thousand, and at least one million dollars of insurance in force.
[C, '97, § 1832 ; S., '13, § 1832 ; 39 G. A., ch. 270, § 1.]
SEC. 5573. Examination.
1 The commissioner of insurance may, at any time he may deem it
2 advisable, either in person or by his legally appointed representative,
S make an examination of or inquire into the affairs of any fraternal
4 beneficiary association authorized or seeking to be authorized to trans-
5 act business within this state, provided the examination of associa-
6 tions organized under the laws of this state shall not be less frequent
7 than once during each biennial period.
[S., '13, § 1839-b; 38 G. A., ch. 348, § 12; 39 G. A., ch. 209,
§18.]
SEC. 5576. Expenses—how paid.
1 In addition to the compensation of the assistants, the commis-
2 sioner of insurance or examiner and assistants shall be entitled to
3 actual and necessary traveling, hotel and other expenses while con-
4 ducting examinations away from their respective places of residence,
5 the same to be paid by the treasurer of state upon warrants drawn
6 by the auditor of state, bills therefor having been filed under oath
7 and approved by the state board of audit. Such expense and com-
8 pensation shall, by the commissioner, be charged to and collected from
9 the associations examined and should any association neglect or re-