COMPILED CODE - Iowa Legislature - State of Iowa

385.
Tit. XVIII, Ch. 12. INSURANCE AGENTS—VOTING BY PROXY. § 5735.
CHAPTER 12.
INSURANCE AGENTS—VOTING BY PROXY.
SECTION 5735. Who deemed agent for certain insurance.
1 The term "agent" used in chapter seven of this title shall include
2 any other person who shall in any manner directly or indirectly trans-
3 act the insurance business for any insurance company complying with
4 the laws of this state. Any officer, agent or representative of an
5 insurance company doing business in this state who may solicit insur-
6 anee, procure applications, issue policies, adjust losses or transact the
7 business generally of such companies, shall be held to be the agent of
8 such insurance company with authority to transact all business within
9 the scope of his employment, anything in the application, policy, con-
10 tract, by-laws or articles of incorporation of such company to the con-
11 trary notwithstanding, but members, of mutual assessment associa-
12 tions which pay no commission, reward or gratuity for the procuring
13 of applications for membership, the income of which associations is
14 derived solely from assessments, dues and fees collected from its mem-
15 bers for the sole purpose of meeting loss and expenses, shall not be
16 deemed to be agents under any section of this chapter.
[C, '97, § 1750; 39 G. A., ch. 123, § 1.]
25