Section 520.17 – Additional security — refusal.
520.17 Additional security — refusal. Should the commissioner of insurance consider the surety on said bond, or the amount thereof, insufficient, the commissioner may require additional security or an increase in the amount of the bond. If such additional security or increase be not furnished within thirty days after notice to furnish the same, the […]
Section 520.18 – Foreign attorney — bonds.
520.18 Foreign attorney — bonds. Where the principal office of the attorney is located in another state, there shall be filed with the commissioner of insurance, in connection with the declaration, provided for by section 520.4, certified copies of all such bonds given by such attorney as security for the funds of subscribers. [C24, 27, […]
Section 520.19 – Annual tax — fees.
520.19 Annual tax — fees. In lieu of all other taxes, licenses, charges, and fees whatsoever, such attorney shall annually pay to the commissioner the same fees as are paid by mutual companies transacting the same kind of business, and an annual tax based upon the applicable percentage stated in section 432.1, subsection 4, calculated […]
Section 520.20 – Form of policy — construction.
520.20 Form of policy — construction. The attorney may insert in any form of policy prescribed by the laws of this state any provisions or conditions required by the plan of reciprocal or interinsurance, provided the same shall not be inconsistent with or in conflict with any law of this state. Such policy, in lieu […]
Section 520.21 – Reinsurance.
520.21 Reinsurance. Such attorney shall not effect any reinsurance on risks in this state unless the insurance carrier granting such reinsurance shall be licensed in this state. [C24, 27, 31, 35, 39, §9102; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §520.21] Referred to in §521.13
Section 520.23 – Deposit of securities by reciprocal or interinsurance exchanges.
520.23 Deposit of securities by reciprocal or interinsurance exchanges. If the commissioner of insurance or chief insurance officer of any other state or territory of the United States, claiming to proceed under existing or future laws of any such state or territory, shall require reciprocal or interinsurance exchanges of this state or the agents thereof […]
Section 520.13 – Fidelity or surety bonds executed.
520.13 Fidelity or surety bonds executed. Fidelity or surety bonds executed by a reciprocal or interinsurance exchange pursuant to authority given by the commissioner of insurance shall be received and accepted as company or corporate bonds, provided, however, that such reciprocal companies before being permitted to qualify for writing fidelity or surety bonds shall be […]
Section 520.14 – Violations — exceptions.
520.14 Violations — exceptions. It shall be unlawful for an attorney to exchange contracts of insurance of the kind and character specified in this chapter, or for an attorney or representative of the attorney to solicit or negotiate any applications for the same without the attorney having first complied with the provisions of sections 520.2 […]
Section 520.15 – Refusal or revocation of certificate.
520.15 Refusal or revocation of certificate. In addition to the penalties provided in sections 520.10 and 520.12, and where not otherwise provided, the penalty for failure or refusal to comply with any of the terms and provisions of this chapter, upon the part of the attorney, shall be the refusal, suspension, or revocation of certificate […]
Section 520.16 – Bonds.
520.16 Bonds. Where the principal office of the attorney in fact is located in this state the attorney shall give a fidelity bond to the subscribers thereof, personal or surety, in such sum as the commissioner of insurance shall deem sufficient, no less, however, than ten thousand dollars, which bond shall be approved by and […]