Bill Text: IA SSB1185 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act relating to the election of directors for county and state mutual insurance associations, and including effective date provisions.(See SF 510.)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2023-03-02 - Committee report approving bill, renumbered as SF 510. [SSB1185 Detail]
Download: Iowa-2023-SSB1185-Introduced.html
Senate
Study
Bill
1185
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
COMMERCE
BILL
BY
CHAIRPERSON
BROWN)
A
BILL
FOR
An
Act
relating
to
the
election
of
directors
for
county
and
1
state
mutual
insurance
associations,
and
including
effective
2
date
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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S.F.
_____
Section
1.
Section
518.7,
Code
2023,
is
amended
to
read
as
1
follows:
2
518.7
Officers
and
directors
——
election.
3
Officers
or
directors
shall
be
elected
in
the
manner
and
for
4
the
length
of
time
prescribed
in
the
articles
of
incorporation.
5
The
same
person
shall
not
simultaneously
hold
the
offices
of
6
president
and
secretary.
A
director
shall
be
a
member
of
the
7
association
unless
otherwise
approved
by
the
commissioner
.
8
Sec.
2.
Section
518A.6,
Code
2023,
is
amended
to
read
as
9
follows:
10
518A.6
Officers
——
election.
11
Officers
or
directors
shall
be
elected
in
the
manner
and
for
12
the
length
of
time
prescribed
in
the
articles
of
incorporation
13
or
bylaws.
The
same
person
shall
not
simultaneously
hold
14
the
offices
of
president
and
secretary.
A
director
shall
be
15
a
member
of
the
association
unless
otherwise
approved
by
the
16
commissioner
.
17
Sec.
3.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
18
importance,
takes
effect
upon
enactment.
19
EXPLANATION
20
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
21
the
explanation’s
substance
by
the
members
of
the
general
assembly.
22
This
bill
relates
to
the
election
of
directors
for
county
and
23
state
mutual
insurance
associations.
24
Under
current
law,
to
be
elected
as
a
director
of
either
a
25
county
or
state
mutual
insurance
association,
an
individual
26
must
be
a
member
of
the
county
or
the
state
mutual
insurance
27
association.
28
The
bill
allows
the
commissioner
of
insurance
to
approve
the
29
election
of
an
individual
as
a
director
of
either
a
county
or
30
state
mutual
insurance
association
if
the
individual
is
not
a
31
member
of
the
county
or
the
state
mutual
insurance
association.
32
The
bill
is
effective
upon
enactment.
33
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