520.5 Actions — venue — commissioner as process agent.
Concurrently with the filing of the declaration provided for by the terms of section 520.4, the attorney shall file with the commissioner of insurance, an instrument in writing executed by the attorney for the subscribers, conditioned that, upon the issuance of certificate of authority provided for in this chapter, action may be brought in the county in which the property or person insured thereunder is located, and that service of process shall be had upon the commissioner of insurance or upon the attorney in fact in all suits in this state, whether arising out of such policies, contracts, agreements or otherwise. Service shall be valid and binding upon all subscribers exchanging at any time reciprocal or interinsurance contracts through such attorney. All suits of every kind and description brought against the reciprocal exchange, or the subscribers on account of their connection with the reciprocal exchange, must be brought against the attorney in fact or the exchange as such, and shall not be brought against any of the subscribers individually on account of their connection with or membership in such reciprocal exchange, and must be brought in the manner and method provided in this section.
[C24, 27, 31, 35, 39, §9087; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §520.5]
2020 Acts, ch 1063, §291
Referred to in §520.14
Structure Iowa Code
Chapter 520 - RECIPROCAL OR INTERINSURANCE CONTRACTS
Section 520.1 - Authorization.
Section 520.2 - Execution of contract.
Section 520.3 - Office of attorney — foreign office.
Section 520.4 - Preliminary declaration.
Section 520.5 - Actions — venue — commissioner as process agent.
Section 520.6 - Service of process.
Section 520.7 - Judgment — satisfaction.
Section 520.8 - Reports — limitations on risks.
Section 520.9 - Standard of solvency.
Section 520.9A - Solvency standard — transition.
Section 520.10 - Annual report — examination — penalties.
Section 520.11 - Implied powers of corporations.
Section 520.12 - Certificate of authority — renewal — penalties.
Section 520.13 - Fidelity or surety bonds executed.
Section 520.14 - Violations — exceptions.
Section 520.15 - Refusal or revocation of certificate.
Section 520.17 - Additional security — refusal.
Section 520.18 - Foreign attorney — bonds.
Section 520.19 - Annual tax — fees.
Section 520.20 - Form of policy — construction.
Section 520.23 - Deposit of securities by reciprocal or interinsurance exchanges.