FRATERNAL BENEFIT SOCIETIES
418:26 Annual License.
On compliance with the foregoing conditions and if the society is found upon examination made by or under the direction of the commissioner to have complied with the laws of the state applicable to it, a license to transact business in this state shall be issued until June 14 thereafter. Annually thereafter, on June 15, such license may be renewed so long as the society shall comply with the requirements of the law and the commissioner shall regard it as safe, reliable, and entitled to confidence; provided, however, a license so issued shall continue in full force and effect until the new license be issued or specifically refused. No unincorporated or voluntary society shall be permitted to transact business in this state. A duly certified copy or duplicate of such license shall be prima facie evidence that the licensee is a fraternal benefit society within the meaning of this chapter.
Source. 2003, 182:1, eff. Jan. 1, 2004.