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Code · Iowa · Chapter 512B — Fraternal Benefit Societies

512B.25 Annual license — renewal.

121 words·~1 min read·/ia/chapter-512b-fraternal-benefit-societies/512b-25·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The authority of a society to transact business in this state may be renewed annually. A license terminates on the first day of June following issuance or renewal. A society shall submit annually on or before March 1 a completed application for renewal of its license. For each license or renewal the society shall pay the commissioner a fee of fifty dollars. A society that fails to timely file an application for renewal shall pay an administrative penalty of five hundred dollars to the treasurer of state for deposit as provided in section 505.7.
A duly certified copy or duplicate of the license is prima facie evidence that the licensee is a fraternal benefit society within the meaning of this chapter.
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