A foreign or alien society shall not transact business in this state without a license issued by the commissioner. A society desiring admission to this state shall substantially comply with the requirements and limitations of this chapter applicable to domestic societies. A society may be licensed to transact business in this state upon filing with the commissioner all of the following:
 1. A duly certified copy of its articles of incorporation.

Terms Used In Iowa Code 512B.27

  • Alien society: means an association organized under the laws of another country. See Iowa Code 512B.2
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Certificate: means the document issued as written evidence of the benefit contract. See Iowa Code 512B.2
  • Commissioner: means the commissioner of insurance or the commissioner's designee. See Iowa Code 512B.2
  • 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
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Society: means a fraternal benefit society, unless otherwise indicated. See Iowa Code 512B.2
  • 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
 2. A copy of its bylaws, certified by its secretary or a corresponding officer.
 3. A power of attorney to the commissioner of insurance as prescribed in section 512B.33.
 4. A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, duly verified by an examination made by the supervising insurance official of its state of domicile, satisfactory to the commissioner.
 5. Certification from the proper official of its state of domicile that the society is legally incorporated and licensed to transact business in that state.
 6. Copies of its certificate forms.
 7. Other information the commissioner requires.
 8. A showing that its assets are invested in accordance with this chapter.