Iowa Code 512B.32 – Unfair methods of competition and unfair and deceptive acts and practices
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 512B.32
- 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.
- Society: means a fraternal benefit society, unless otherwise indicated. See Iowa Code 512B.2
A society is subject to chapter 507B relating to unfair insurance trade practices. However, chapter 507B does not apply to or affect the right of a society to determine its eligibility requirements for membership, and does not apply to or affect the offering of benefits exclusively to members or persons eligible for membership in the society by a subsidiary corporation or affiliated organization of a society.