Iowa Code 512B.36 – Exemption of certain societies
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Iowa Code 512B.36
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- year: means twelve consecutive months. See Iowa Code 4.1
512B.36 Exemption of certain societies.
1. This chapter does not affect or apply to any of the following:
a. Grand or subordinate lodges of societies, orders, or associations now doing business
in this state which provide benefits exclusively through local or subordinate lodges.
b. Orders, societies, or associations which admit to membership only persons engaged in
one or more crafts or hazardous occupations, in the same or similar lines of business, insuring
only their own members and their families, and the spouses’ societies or spouses’ auxiliaries
to such orders, societies, or associations.
c. Domestic societies which limit their membership to employees of a particular city or
town, designated firm, business house, or corporation which provide for a death benefit of
not more than four hundred dollars or disability benefits of not more than three hundred fifty
dollars to any person in any one year, or both.
d. Domestic societies or associations of a purely religious, charitable, or benevolent
description, which provide for a death benefit of not more than four hundred dollars or for
disability benefits of not more than three hundred fifty dollars to any one person in any one
year, or both.
2. A society or association described in subsection 1, paragraph “”a”” or “”d””, which provides
for death or disability benefits for which benefit certificates are issued, and any such society
or association included in paragraph “”d”” which has more than one thousand members, is not
exempt from this chapter but shall comply with all requirements of this chapter.
3. A society which is exempt from the requirements of this chapter, except a society
described in subsection 1, paragraph “”b””, shall not give or allow, or promise to give or allow
to any person any compensation for procuring new members.
4. A society which provides for benefits in case of death or disability resulting solely from
accident, and which does not obligate itself to pay natural death or sick benefits, has all of
the privileges and is subject to all the applicable provisions of this chapter and rules adopted
by the commission pursuant to this chapter except that the provisions relating to medical
examination, valuations of benefit certificates, and incontestability, do not apply to such a
society.
5. The commissioner may require from a society, by examination or otherwise,
information that will enable the commissioner to determine whether the society is exempt
from this chapter.
6. A society exempt under this section, is also exempt from all other provisions of the
general insurance laws of this state.
90 Acts, ch 1148, §37
Referred to in §512B.3
1. This chapter does not affect or apply to any of the following:
a. Grand or subordinate lodges of societies, orders, or associations now doing business
in this state which provide benefits exclusively through local or subordinate lodges.
b. Orders, societies, or associations which admit to membership only persons engaged in
one or more crafts or hazardous occupations, in the same or similar lines of business, insuring
only their own members and their families, and the spouses’ societies or spouses’ auxiliaries
to such orders, societies, or associations.
c. Domestic societies which limit their membership to employees of a particular city or
town, designated firm, business house, or corporation which provide for a death benefit of
not more than four hundred dollars or disability benefits of not more than three hundred fifty
dollars to any person in any one year, or both.
d. Domestic societies or associations of a purely religious, charitable, or benevolent
description, which provide for a death benefit of not more than four hundred dollars or for
disability benefits of not more than three hundred fifty dollars to any one person in any one
year, or both.
2. A society or association described in subsection 1, paragraph “”a”” or “”d””, which provides
for death or disability benefits for which benefit certificates are issued, and any such society
or association included in paragraph “”d”” which has more than one thousand members, is not
exempt from this chapter but shall comply with all requirements of this chapter.
3. A society which is exempt from the requirements of this chapter, except a society
described in subsection 1, paragraph “”b””, shall not give or allow, or promise to give or allow
to any person any compensation for procuring new members.
4. A society which provides for benefits in case of death or disability resulting solely from
accident, and which does not obligate itself to pay natural death or sick benefits, has all of
the privileges and is subject to all the applicable provisions of this chapter and rules adopted
by the commission pursuant to this chapter except that the provisions relating to medical
examination, valuations of benefit certificates, and incontestability, do not apply to such a
society.
5. The commissioner may require from a society, by examination or otherwise,
information that will enable the commissioner to determine whether the society is exempt
from this chapter.
6. A society exempt under this section, is also exempt from all other provisions of the
general insurance laws of this state.
90 Acts, ch 1148, §37
Referred to in §512B.3