31A-14-210 - Requirements for foreign fraternals.
31A-14-210. Requirements for foreign fraternals.
(1) A foreign fraternal may not be authorized to do business in this state under Section31A-14-203, unless it strictly complies with:
(a) the financial requirements of Section 31A-9-209 and Chapter 17, Part 6, Risk-BasedCapital;
(b) the requirements of Section 16-6a-1506 and Subsection 31A-5-410(1)(a), thereporting requirements of Subsection 31A-5-410(2), Section 31A-5-413 whenever removal ismade involuntarily under the laws of the domicile, Section 31A-9-202, and Subsections31A-9-204(1)(c), 31A-9-402(2), and 31A-9-602(1); and
(c) for five years after the initial issuance of a certificate of authority in its domiciliaryjurisdiction, the requirements of Subsection 31A-9-213(2).
(2) (a) No foreign fraternal may be authorized to do business in this state unless itsubstantially complies with Sections 31A-5-217 and 31A-5-218, except that the approvalrequirement of Subsection 31A-5-217(2) does not apply.
(b) When any corporate reorganization, transformation, or liquidation of a foreignfraternal, or any levy to cover a deficiency under a law comparable to Subsection 31A-9-209(2),is formally initiated by the fraternal, by the official act of the domiciliary commissioner, or byany other official, the fraternal shall promptly give written notice to the commissioner.
(3) The commissioner may issue orders imposing and eliminating restrictions underSection 31A-9-103 that are applicable to foreign fraternals.
(4) (a) After a hearing, the commissioner may, by order, apply any of the provisions ofSections 31A-9-213, 31A-9-404, 31A-9-411, 31A-9-413, or Subsection 31A-5-415(2) to aforeign fraternal after finding that it is necessary for the protection of the interests of itsmembers, creditors, or the public in this state.
(b) If any provision made applicable to the foreign fraternal under Subsection (4)(a)conflicts with a provision of the law of the domicile, so that it is impossible for the fraternal tocomply with both, the law of the domicile governs.
Amended by Chapter 300, 2000 General Session