44-3712. Motor club; certificate of authority required; issuance; requirements; fee.

(1) No club shall offer, issue, or renew a motor club service contract in this state without first obtaining from the director a certificate of authority to act. A certificate of authority shall be issued by the director to the club upon submission of the items in subdivisions (a) to (f) of this subsection in a form satisfactory to the director. The applicant shall submit:

(a) A formal application for the certificate in such form and detail as the director requires, executed under oath by its president and secretary or two other principal officers of the club or such other persons as the director may require;

(b) A certified copy of its charter or articles of incorporation and its bylaws, if any;

(c) If a corporation, a certified copy of the certificate of authority or good standing certificate from the Secretary of State;

(d) A copy of the club's most recent financial statement prepared in accordance with generally accepted accounting principles and certified by two principal officers of the applicant or, in the event the applicant is not a corporation, such other persons as the director may require;

(e) An explanation of its plan of doing business and copies of the following:

(i) Its application for membership;

(ii) The proposed membership certificate or identification card and any proposed addendum to such certificate or card;

(iii) Any individual insurance policy or group certificate to be offered; and

(iv) Any motor club service contract to be issued; and

(f) Any other relevant information requested by the director.

(2) No certificate of authority shall be issued by the director until the club has paid an initial certificate of authority fee of one hundred dollars.

Source