Iowa Code
Chapter 512B - FRATERNAL BENEFIT SOCIETIES
Section 512B.24 - Reports.

512B.24 Reports.
Reports shall be filed in accordance with this section.
1. A society transacting business in this state, on or before March 1 annually, unless for cause shown the time has been extended by the commissioner, shall file with the commissioner a true statement of its financial condition, transactions, and affairs for the preceding calendar year and shall pay a fee of fifty dollars. The statement may be in general form and content as approved by the national association of insurance commissioners for fraternal benefit societies and shall be supplemented by additional information as adopted by rule of the commissioner.
2. As part of the annual statement, a society shall, on or before March 1, file with the commissioner of insurance a valuation of its certificates in force on the last preceding December 31. However, the commissioner may, for cause shown, extend the time for filing the valuation for not more than two calendar months. The valuation shall be done in accordance with the standards specified in section 512B.23. The valuation and underlying data shall be certified by a qualified actuary or, at the expense of the society, verified by the actuary of the department of insurance of the state of domicile of the society.
3. A society failing to file the annual statement in the form and within the time provided by this section shall forfeit one hundred dollars for each day during which the default continues, and, upon notice by the commissioner to that effect, the society’s authority to do business in this state shall cease while the default continues.
90 Acts, ch 1148, §25; 92 Acts, ch 1162, §17

Structure Iowa Code

Iowa Code

Title XIII - COMMERCE

Chapter 512B - FRATERNAL BENEFIT SOCIETIES

Section 512B.1 - Scope of chapter.

Section 512B.2 - Definitions.

Section 512B.3 - Fraternal benefit societies — defined.

Section 512B.4 - Lodge system.

Section 512B.5 - Representative form of government.

Section 512B.6 - Purposes and powers.

Section 512B.7 - Qualifications for membership.

Section 512B.8 - Location of office, meetings, communications to members, grievance procedures.

Section 512B.9 - Personal liability.

Section 512B.10 - Waiver.

Section 512B.11 - Organization.

Section 512B.12 - Amendments to laws.

Section 512B.13 - Institutions.

Section 512B.14 - Reinsurance.

Section 512B.15 - Consolidations and mergers.

Section 512B.15A - Conversion of fraternal benefit society into a mutual life insurance company.

Section 512B.16 - Benefits.

Section 512B.17 - Beneficiaries.

Section 512B.18 - Benefits not attachable.

Section 512B.19 - The benefit contract.

Section 512B.20 - Nonforfeiture benefits, cash surrender values, certificate loans, and other options.

Section 512B.21 - Investments.

Section 512B.21A - Required reserves.

Section 512B.22 - Funds.

Section 512B.23 - Valuation.

Section 512B.24 - Reports.

Section 512B.25 - Annual license — renewal.

Section 512B.26 - Examination of societies — no adverse publications.

Section 512B.27 - Foreign or alien society — admission.

Section 512B.28 - Injunction — liquidation — receivership of domestic society.

Section 512B.29 - Suspension, revocation, or refusal of license of foreign or alien society.

Section 512B.30 - Standing.

Section 512B.31 - Licensing of agents.

Section 512B.32 - Unfair methods of competition and unfair and deceptive acts and practices.

Section 512B.33 - Service of process.

Section 512B.34 - Review.

Section 512B.35 - False or fraudulent statements.

Section 512B.36 - Exemption of certain societies.