Retaliatory Statement
A like Foreign company applying for authority to write the same lines of business in this state would be required to have:
Surplus over all Liabilities $5,000,000. Surplus to policyholders including capital stock $5,000,000. Deposit Requirement None
No bond is required.
A like Foreign company to be eligible for admission must have been in continuous operation for 3 years. This requirement is by rule. This requirement is waived for wholly owned subsidiaries of licensed companies.
A like Foreign company to be eligible for admission would be required to furnish an examination made by the Foreign Insurance Department within a period of 3 years. This requirement is by rule. This requirement may be waived upon issuance of a parental surplus guarantee.
A like Foreign company would be required to pay fees and other charges as follows:*
Filing application $ 50. Issuing Certificate of Authority $ 50. Total admission fees** $ 100. Desk audit fee $1500. Filing renewal application $ 50. Issuing renewal Certificate of Authority $ 50. Total renewal fees $ 100. Filing amended Articles of Incorporation $ 50. Filing amendment to Charter $ 50. Filing Articles of Redomestication $ 50. Filing merger agreement none Filing amended Bylaws none Issuing amended Certificate of Authority $ 25. Filing Consent to Service of Process form none Service of Process fee $ 15. Affixing official seal (certification) $ 10.
For life insurers, health maintenance organizations and health service corporations:
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For other than life:
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*All fees are subject to retaliation
**Retaliatory fee collected at time of application if greater than Iowa basis
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