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 | $50. |
| Affixing official seal (certification) | $10. |
The premium tax rate is 1.0%.
*All fees are subject to retaliation
**Retaliatory fee collected at time of application if greater than Iowa basis