Iowa § 515.14 Membership in mutuals

Iowa Statutes

§ 515.14 — Membership in mutuals

Iowa § 515.14

Title XIIICOMMERCE

Ch. 515INSURANCE OTHER THAN LIFE

This text of Iowa § 515.14 (Membership in mutuals) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 515.14 (2026).

Text

Any public or private corporation, board, or association in this state, or elsewhere, may
make applications, enter into agreements for and hold policies in any such mutual insurance
company. Any officer, stockholder, trustee, or local representative of any such corporation,
board, association, or estate may be recognized as acting for, or on its behalf for the purpose
of such membership, but shall not be personally liable upon such contract of insurance by
reasonofactinginsuchrepresentativecapacity. Therightofanycorporationorganizedunder
the laws of this state to participate as a member of any such mutual insurance company is
hereby declared to be incidental to the purpose for which such corporation is organized and
as much granted as the rights and powers expressly conferred.

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Any public or private corporation, board, or association in this state, or elsewhere, may
make applications, enter into agreements for and hold policies in any such mutual insurance
company. Any officer, stockholder, trustee, or local representative of any such corporation,
board, association, or estate may be recognized as acting for, or on its behalf for the purpose
of such membership, but shall not be personally liable upon such contract of insurance by
reasonofactinginsuchrepresentativecapacity. Therightofanycorporationorganizedunder
the laws of this state to participate as a member of any such mutual insurance company is
hereby declared to be incidental to the purpose for which such corporation is organized and
as much granted as the rights and powers expressly conferred.