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 $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 

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