Section 41-4319 – PROHIBITED ADVERTISEMENT OF INSURANCE GUARANTY ASSOCIATION ACT IN COMMERCIAL SALES.
41-4319. PROHIBITED ADVERTISEMENT OF INSURANCE GUARANTY ASSOCIATION ACT IN COMMERCIAL SALES. No person, including an insurer, agent or affiliate of an insurer shall make, publish, disseminate, circulate or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated or placed before the public, in any newspaper, magazine or other publication, […]
Section 41-4320 – APPLICATION.
41-4320. APPLICATION. This chapter shall apply to coverage the guaranty association provides in connection with any member insurer that was first placed under an order of liquidation on or after January 1, 2011. History: [41-4320, added 2011, ch. 196, sec. 2, p. 578.]
Section 41-4318 – STAY OF PROCEEDING –- REOPENING DEFAULT JUDGMENTS.
41-4318. STAY OF PROCEEDING –- REOPENING DEFAULT JUDGMENTS. All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed one hundred eighty (180) days from the date an order of liquidation, rehabilitation or conservation is final to permit proper legal action by the association on any matters […]
Section 41-4303 – COVERAGE AND LIMITATIONS.
41-4303. COVERAGE AND LIMITATIONS. (1) This chapter shall provide coverage for the policies and contracts specified in subsection (2) of this section: (a) To persons, except for nonresident certificate holders under group policies or contracts who, regardless of where they reside, are the beneficiaries, assignees or payees of the persons covered under paragraph (b) of […]
Section 41-4304 – CONSTRUCTION.
41-4304. CONSTRUCTION. The provisions of this chapter shall be construed to effect the purpose under section 41-4302, Idaho Code. History: [41-4304, added 2011, ch. 196, sec. 2, p. 563.]
Section 41-4305 – DEFINITIONS.
41-4305. DEFINITIONS. As used in this chapter: (1) "Account" means any of the three (3) accounts maintained pursuant to section 41-4306, Idaho Code. (2) "Association" means the Idaho life and health insurance guaranty association. (3) "Authorized assessment" or "authorized," when used in the context of assessments, means a resolution by the board of directors has […]
Section 41-4306 – CREATION OF THE ASSOCIATION.
41-4306. CREATION OF THE ASSOCIATION. (1) This chapter continues the existence of the nonprofit legal entity known as the Idaho life and health insurance guaranty association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions […]
Section 41-4307 – BOARD OF DIRECTORS.
41-4307. BOARD OF DIRECTORS. (1) The board of directors of the association shall consist of not fewer than five (5) nor more than nine (9) member insurers serving terms as established in the plan of operation. The members of the board of directors shall be selected by member insurers subject to the approval of the […]
Section 41-4308 – POWERS AND DUTIES OF THE ASSOCIATION.
41-4308. POWERS AND DUTIES OF THE ASSOCIATION. (1) If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer and that are approved by the director: (a) Guarantee, assume or reinsure, or […]
Section 41-4309 – ASSESSMENTS.
41-4309. ASSESSMENTS. (1) For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time and for such amounts as the board of directors finds necessary. Assessments shall be due not less than […]