2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515 - INSURANCE OTHER THAN LIFE
515.14 - MEMBERSHIP IN MUTUALS.

        515.14  MEMBERSHIP IN MUTUALS.
         Any public or private corporation, board, or association in this
      state, or elsewhere, may make applications, enter into agreements for
      and hold policies in any such mutual insurance company.  Any officer,
      stockholder, trustee, or local representative of any such
      corporation, board, association, or estate may be recognized as
      acting for, or on its behalf for the purpose of such membership, but
      shall not be personally liable upon such contract of insurance by
      reason of acting in such representative capacity.  The right of any
      corporation organized under the laws of this state to participate as
      a member of any such mutual insurance company is hereby declared to
      be incidental to the purpose for which such corporation is organized
      and as much granted as the rights and powers expressly conferred.  

         [C73, § 1124; C97, § 1693; C24, 27, 31, 35, 39, § 8907; C46,
      50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 515.14]