512A.1 Definitions. When used in this chapter: 1. A “benevolent association” shall mean any person, firm, company, partnership, association or corporation, organized to enroll persons as members of a group for the purpose of providing an agency by which persons so enrolled may in the event of the death of any other member of the […]
512A.10 Articles, amendments to articles, and bylaws. 1. The articles of incorporation, and any subsequent amendments, of an organization shall be filed with and approved by the commissioner of insurance before filing with the secretary of state. An organization shall file bylaws and subsequent amendments to bylaws with the commissioner within thirty days of adoption […]
512A.2 Rules promulgated. The commissioner shall promulgate such reasonable rules as the commissioner deems necessary to assure the proper operation of benevolent associations. [C71, 73, 75, 77, 79, 81, §512A.2]
512A.3 Incorporation mandatory. Before a benevolent association shall operate in this state it shall first incorporate in accordance with the laws of this state, and the articles of incorporation and bylaws shall be submitted to the commissioner. If the commissioner finds they conform to the requirements of the law and all rules and regulations promulgated […]
512A.4 Records of transactions. The association shall keep a record of all its transactions and shall file an annual report thereof for the preceding calendar year on or before the first day of March on a form prescribed by the commissioner. The commissioner shall also prescribe the method of keeping books and accounts of benevolent […]
512A.5 Fees to commissioner. The following fees shall be paid to the commissioner for services required under this chapter, which shall be accounted for by the commissioner in the same manner as other fees received in the discharge of the duties of the office: 1. For filing and examination of amendments to the articles of […]
512A.6 Contributions for expenses. Such associations may operate without the establishment of reserves or surplus except for current expenses. Contributions for expenses shall be added as a separate item to contributions for membership benefits. A reasonable membership fee to cover initial expenses may be charged. [C71, 73, 75, 77, 79, 81, §512A.6]
512A.7 Certificate of membership. Within thirty days after acceptance to membership a certificate, the form of which has been approved by the commissioner, shall be delivered to each member. The certificate shall set forth the name of the association, the name of the member, a statement as to the benefits of membership, to whom such […]
512A.8 Violation. Except as otherwise provided by law, it shall be unlawful for any person or corporation to operate a benevolent association in this state except as provided for in this chapter. [C71, 73, 75, 77, 79, 81, §512A.8] 2004 Acts, ch 1110, §33
512A.9 Incorporation of benevolent associations prohibited. Notwithstanding any provision of this chapter to the contrary, a benevolent association shall not be incorporated or reincorporated in this state on or after July 1, 1988. A benevolent association incorporated before July 1, 1988, continues to be subject to the provisions of this chapter. 88 Acts, ch 1111, […]
