520.5 - ACTIONS -- VENUE -- COMMISSIONER AS PROCESS AGENT. - Iowa Statutes

520.5 ACTIONS -- VENUE -- COMMISSIONER AS PROCESS AGENT. Concurrently with the filing of the declaration provided for by the terms of section 520.4, the attorney shall file with the commissioner of insurance, an instrument in writing executed by the attorney for said subscribers, conditioned that, upon the issuance of certificate of authority provided for in this chapter, action may be brought in the county in which the property or person insured thereunder is located, and that service of process shall be had upon the commissioner of insurance or upon the attorney in fact in all suits in this state, whether arising out of such policies, contracts, agreements or otherwise, which service shall be valid and binding upon all subscribers exchanging at any time reciprocal or interinsurance contracts through such attorney. All suits of every kind and description brought against such reciprocal exchange or the subscribers thereto on account of their connection therewith, must be brought against the attorney in fact therefor or the exchange as such, and shall not be brought against any of the subscribers thereto individually on account of their connection with or membership in such reciprocal exchange, and must be brought in the manner and method above provided.          Section History: Early Form [C24, 27, 31, 35, 39, § 9087; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 520.5] Referred to in § 520.14