Order of the Falcon republic, new statutes were incorporated for the Order on 11 July 1944. The Republic of Iceland replaced the King by an elected President of Iceland who is the designated Grand Master of this Order. It may be awarded to both Icelanders and citizens of other countries for achievements in Iceland or internationally. A five-member council makes recommendations on awards to the Grand Master, who then grants the award. However, the Grand Master may award the Order without recommendations from the Order Council. The Grand Master and the Chairman of the Order Council then sign the Letters Patent, which are given
Order of the Black Eagle "with the Chain" (""mit der Kette"") or without (""ohne Kette""). By statute, members of the order also held the Grand Cross of the Order of the Red Eagle, and wore the badge of that order from a ribbon around the neck. From 1862, members of the Prussian royal house, upon award of the Order of the Black Eagle, also received the Prussian Crown Order 1st Class. The badge of the Order was a gold Maltese cross, enameled in blue, with gold-crowned black eagles between the arms of the cross. The gold center medallion bore the royal monogram of Friedrich I