2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 512B - FRATERNAL BENEFIT SOCIETIES
512B.15A - CONVERSION OF FRATERNAL BENEFIT SOCIETY INTO A MUTUAL LIFE INSURANCE COMPANY.

        512B.15A  CONVERSION OF FRATERNAL BENEFIT SOCIETY INTO
      A MUTUAL LIFE INSURANCE COMPANY.
         A domestic fraternal benefit society may be converted and licensed
      as a mutual life insurance company by compliance with all the
      requirements of the general insurance laws for mutual life insurance
      companies.  A plan of conversion shall be prepared in writing by the
      board of directors setting forth in full the terms and conditions of
      conversion.  The affirmative vote of two-thirds of all members of the
      supreme governing body at a regular or special meeting is necessary
      for the approval of the plan of conversion.  A conversion shall not
      take effect unless and until approved by the commissioner.  The
      commissioner may give approval for the conversion if the commissioner
      finds that the proposed change is in conformity with the requirements
      of law and not prejudicial to the certificate holders of the society.
      

         90 Acts, ch 1148, §16