507A.3 Definitions — scope.
243 words·~1 min read·
/ia/chapter-507a-unauthorized-insurers/507a-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. Unless otherwise indicated, “insurer” as used in this chapter includes all corporations, associations, partnerships and individuals engaged in the business of insurance. Any of the following acts in this state, effected by mail or otherwise, by an unauthorized insurer is defined to be doing an insurance business in this state:
a. The making of or proposing to make, as an insurer, an insurance contract.
b. The taking or receiving of any application for insurance.
c. The receiving or collection of any premiums, membership fees, assessments, dues or other considerations for any insurance.
d. The issuance or delivery of contracts of insurance to residents of this state or to corporations or persons authorized to do business in this state.
e. The doing of any kind of insurance business specifically recognized as constituting the doing of an insurance business within the meaning of the statutes relating to insurance.
f. The doing or proposing to do any insurance business in substance equivalent to any of the foregoing in a manner designed to evade the provisions of the insurance laws of this state.
g. Any other transactions of business relating directly to insurance in this state by an insurer.
2. The venue of an act committed by mail is at the point where the matter transmitted by mail is delivered and takes effect.
[C50, 54, 58, 62, 66, §507A.3(1); C71, 73, 75, 77, 79, 81, §507A.3; 81 Acts, ch 165, §1]
Referred to in §507A.7, 522C.2