512B.27 - FOREIGN OR ALIEN SOCIETY -- ADMISSION.
512B.27 FOREIGN OR ALIEN SOCIETY -- ADMISSION. 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. 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.
Section History: Recent Form 90 Acts, ch 1148, §28