A bill for an act relating to the election of directors for county and state mutual insurance associations, and including effective date provisions. (Formerly HSB 190.) Effective date: 06/01/2023.
Impact
By revising the election procedures, HF465 intends to ensure that mutual insurance associations are managed by individuals who are accountable to their membership. The amendments emphasize the requirement for directors to be members of their respective associations unless otherwise approved by the commissioner. This legislative move reinforces the structure of mutual insurance associations, promoting member representation and organizational integrity.
Summary
House File 465 addresses the election procedures for directors of county and state mutual insurance associations in Iowa. It amends existing statutes related to the governance of these organizations, specifically focusing on the election of officers. The bill outlines that officers or directors must be elected according to the articles of incorporation and prohibits the same person from holding the positions of president and secretary simultaneously. This change aims to enhance governance and transparency within mutual insurance associations.
Sentiment
The general sentiment surrounding HF465 appears to be supportive, as it does not face significant opposition. The amendments are considered a logical enhancement to the existing governance framework, aimed at refining the election process and ensuring better alignment of interests between directors and association members. There is an underlying consensus that improved governance can lead to better operational effectiveness within mutual insurance associations.
Contention
While there are no apparent major points of contention regarding HF465, discussions may arise around the balance of power within these associations and the potential impact of centralizing governance decisions. The requirement that directors be members is a protective measure but could lead to debates about inclusivity and the qualifications necessary for effective governance. Overall, the bill is perceived as a step toward stronger governance in the sector.
Similar To
A bill for an act relating to the election of directors for county and state mutual insurance associations, and including effective date provisions.(Formerly SSB 1185.)
Related
A bill for an act relating to the election of directors for county and state mutual insurance associations, and including effective date provisions.(See HF 465.)
Related
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.)
A bill for an act relating to the election of directors for county and state mutual insurance associations, and including effective date provisions.(Formerly SSB 1185.)
A bill for an act relating to the election of directors for county and state mutual insurance associations, and including effective date provisions.(See HF 465.)
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.)
A bill for an act relating to the reorganization of county and state mutual insurance associations, nonrenewal notices for automobile insurance, and nonrenewal notices by county and state mutual insurance associations, and including effective date provisions. (Formerly HSB 652.) Effective date: 07/01/2024, 01/01/2025.
A bill for an act relating to reinsurance requirements for county and state mutual insurance associations. (Formerly HSB 537.) Effective date: 07/01/2024.
A bill for an act relating to captive insurance companies, and including applicability provisions. (Formerly SF 509, SF 424.) Effective date: 07/01/2023, 01/01/2025. Applicability date: 01/01/2025.
A bill for an act relating to investments of funds by life insurers, and including applicability provisions. (Formerly HSB 96.) Effective date: 07/01/2023.
A bill for an act relating to the conduct of elections, and including effective date and retroactive applicability provisions. (Formerly HSB 281.) Effective date: 07/01/2025, 01/01/2026. Applicability date: 01/01/2024.
A bill for an act concerning the state rulemaking process, related matters pertaining to agency functions, and including effective date provisions. (Formerly HSB 81.) Effective date: 07/01/2023, 01/01/2024.