Title XIII, COMMERCE (Ch. 505 - 554I)

A county mutual insurance association authorized to do business in this state shall not terminate a contract of an insurance producer who is an independent contractor but who is not an exclusive insurance producer as defined in section 522B.1 without at least one hundred eighty d…

1. A county mutual insurance association may reinsure a part or all of its coverages written pursuant to this chapter with an association operating under this chapter , or with any other association or company that is in compliance with chapter 521B and authorized to write the ki…

After January 1, 1966, every association doing business under this chapter shall be required to pay to the director of the department of revenue, or a depository designated by the director, as taxes an amount equal to the following: 1. The applicable percent of the gross amount o…

A proof of loss shall contain such information as is required by the policy provisions of the association, which information shall be signed and sworn to by the insured. [C66, 71, 73, 75, 77, 79, 81, §518.19 ] 2009 Acts, ch 145, §33

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. The organization shall file with the commissioner bylaws and subsequent amendments to the …

In the event of loss of livestock, the insured shall give notice to the association in sufficient time to permit the performance by a licensed veterinarian of a postmortem examination of the livestock for which claim is made, but in no event later than forty-eight hours from the …

In the event of loss to growing crops by hail, notice of such loss must be given by mailing to the association a certified letter within ten days from the time such loss or damage occurred. [C66, 71, 73, 75, 77, 79, 81, §518.21 ]

A suit or action on a policy for the recovery of any claim shall not be sustainable in any court of law or equity unless all requirements of the policy have been complied with, and unless commenced within twelve months next after the inception of the loss. [C66, 71, 73, 75, 77, 7…

1. Cancellation by insured. A policy shall be canceled at any time at the request of the insured. 2. Cancellation by association. a. Except as provided in paragraph “b” , notice of cancellation is not effective unless mailed or delivered by the association to the named insured at…

An association organized under this chapter before July 1, 2009, shall at all times maintain a surplus of not less than fifty thousand dollars or one-tenth of one percent of the gross risk in force, whichever is greater. An association organized under this chapter on or after Jul…

Assets or other funds shall not be loaned directly or indirectly to an officer, director, or employee of the association, or directly or indirectly to a relative of an officer, director, or an employee of the association. 95 Acts, ch 185, §28

The form of all policies, applications, agreements, and endorsements modifying the provisions of policies, and all permits and riders used in this state, issued or proposed to be issued by a county mutual insurance association doing business in this state under the provisions of …

Upon the failure of a county mutual insurance association to file a copy of its forms of policies or contracts pursuant to section 518.27 , the commissioner of insurance may suspend its authority to transact business within the state until such forms of policies or contracts have…

1. If the commissioner finds that a filing does not meet the requirements of this chapter , written notice of disapproval shall be sent to the county mutual insurance association specifying in what respect the filing fails to meet the requirements of this chapter and stating that…

If the commissioner of insurance approves the articles of incorporation, the commissioner shall so certify and the articles with the certificates of approval shall then be recorded and certified by the secretary of state. [C66, 71, 73, 75, 77, 79, 81, §518.3 ]

The commissioner of insurance may suspend a county mutual insurance association’s certificate of authority to do business if the association neglects or fails to comply with this chapter . 95 Acts, ch 185, §32

The commissioner may adopt rules pursuant to chapter 17A as necessary for the administration of this chapter . 2009 Acts, ch 145, §37

Any association incorporated under the laws of this state for the purpose of furnishing insurance as provided for in this chapter shall be known as a county mutual insurance association. The words “mutual” and “association” shall be incorporated in and become a part of its name. …

A county mutual insurance association formed on or after July 1, 2009, shall not issue policies until applications for insurance of not less than one hundred thousand dollars, representing at least two hundred applicants, have been received, and no application for insurance durin…

Members of the association shall have the power to make or amend articles of incorporation at any membership meeting, provided that notice of such addition or amendment has been mailed to each member at least ten days in advance of the meeting in which such proposed action is to …

1. Members of any class may participate in any meeting of the members by means of remote communication to the extent the board of directors authorizes such participation for such class. Participation as a member by means of remote communication shall be subject to such guidelines…

Officers or directors shall be elected in the manner and for the length of time prescribed in the articles of incorporation. The same person shall not simultaneously hold the offices of president and secretary. A director shall be a member of the association unless otherwise appr…

The directors of the association shall have the authority to enact such bylaws and regulations not inconsistent with law as they consider necessary for the regulation and conduct of the business. No change in the bylaws shall have the effect of limiting coverage under existing po…

The members of the association shall consist of those persons or organizations insured therein. The words “persons” and “members” as used in this chapter shall be construed to mean trustees, administrators, and all other individuals, public or private corporations or associations…

1. Any number of persons may, by incorporating under chapter 491 , enter into contracts with each other for the following kinds of insurance from loss or damage by: a. Any peril or perils resulting in physical loss of or damage to property. b. Theft of personal property. c. Injur…

1. General considerations. The following considerations apply in the interpretation of this section : a. This section applies to the investments of state mutual insurance associations. b. (1) The purpose of this section is to protect and further the interests of policyholders, cl…

1. An association doing business under this chapter , on or before March 1 of each year, shall prepare under oath and file with the commissioner of insurance an accurate and complete statement of the condition of the association as of the last day of the preceding calendar year. …

A proof of loss shall contain such information as is required by the policy provisions of the association, which information shall be signed and sworn to by the insured. [C24, 27, 31, 35, 39, § 9045; C46, 50, 54, 58, 62, §518.19; C66, 71, 73, 75, 77, 79, 81, §518A.19 ] 2009 Acts,…

An entity seeking to organize as or convert to a state mutual insurance association shall submit a plan of organization to the commissioner for approval. 99 Acts, ch 165, §18

Any association incorporated under the laws of this state for the purpose of furnishing insurance as provided for in this chapter is authorized to do business in the county in which its principal place of business is located, the counties contiguous thereto, and the next tier of …

In case of damage or loss to livestock by fire or lightning or loss or damage to automobiles or aircraft by theft or fire, notice of such loss must be given the association by mailing written notice within five days from the time such loss or damage occurred. [C24, 27, 31, 35, 39…

In case of loss to growing crops by hail, notice of such loss must be given the association by mailing a certified mail letter within ten days from the time such loss or damage occurred. [C24, 27, 31, 35, 39, § 9047; C46, 50, 54, 58, 62, §518.21; C66, 71, 73, 75, 77, 79, 81, §518…

A suit or action on a policy for the recovery of any claim shall not be sustainable in any court of law or equity unless all requirements of the policy have been complied with, and unless commenced within twelve months next after the inception of the loss. [C24, 27, 31, 35, 39, §…

The association issuing such policy may show the actual value of said property at date of policy, and any depreciation in the value thereof before the loss occurred; but the said association shall be liable for the actual value of the property insured at the date of the loss, unl…

In any action on a policy to recover loss or damage on personal property, the association shall not be liable in excess of the amount of damage or loss at the time the loss or damage occurs; provided that the value of growing crops may be stated in the policy or contract. [C24, 2…

No recovery on a policy or contract of insurance shall be defeated for failure of the insured to comply, after a loss occurs, with any arbitration or appraisement stipulation as to fixing the value of property. No arbitration shall take place except substantially where the proper…

The commissioner of insurance may address inquiries to any association in relation to its doings and condition and any association so addressed shall promptly reply thereto in writing. If the commissioner of insurance is then satisfied that the association has failed to comply wi…

1. Cancellation by insured. A policy shall be canceled at any time at the request of the insured. 2. Cancellation by association. a. Except as provided in paragraph “b” , notice of cancellation is not effective unless mailed or delivered by the association to the named insured at…

Unless the time and place of holding the annual meeting of the members of any association transacting business under the provisions of this chapter are plainly stated in their articles of incorporation or bylaws, twenty days’ notice of the time and place of holding of said meetin…

1. A state mutual insurance association doing business under this chapter shall on or before the first day of March, each year, pay to the director of revenue, or a depository designated by the director, a sum equivalent to the applicable percent of the gross receipts from premiu…

An association organized under this chapter before July 1, 2009, shall at all times maintain a surplus of not less than one hundred thousand dollars, or one-tenth of one percent of the gross risk in force, whichever is greater. An association organized under this chapter on or af…

In ascertaining such corporate indebtedness, a debt shall be deemed to exist, on account of its liabilities on the policy certificates or contracts of insurance issued by it equal to the amount of surplus or other funds accumulated by such corporation for the purpose of fulfillin…

1. Members of any class may participate in any meeting of members by means of remote communication to the extent the board of directors authorizes such participation for such class. Participation as a member by means of remote communication shall be subject to such guidelines and…

1. Such associations shall pay the same fees for annual reports and annual certificates of authority as are required to be paid by domestic companies organized and doing business under chapter 515 , which certificates shall expire June 1 of the year following the date of issue. 2…

A person or corporation shall not solicit an application for insurance for any association in this state without having procured from the commissioner of insurance a license authorizing the person or corporation to act as an insurance producer. [C24, 27, 31, 35, 39, § 9066; C46, …

A state mutual insurance association authorized to do business in this state shall not terminate a contract of an insurance producer who is an independent contractor but who is not an exclusive insurance producer as defined in section 522B.1 without at least one hundred eighty da…