Title 41, INSURANCE

41-3607. BOARD OF DIRECTORS -- NUMBER -- ELECTION OR APPOINTMENT -- REIMBURSEMENT FOR EXPENSES. (1) The board of directors of the association shall consist of not less than five (5) nor more than nine (9) persons serving terms as established in the plan of operation. The members …

41-3608. OBLIGATIONS AND POWERS OF ASSOCIATION. (1) The association shall: (a) Be obligated to pay covered claims existing prior to the order of liquidation arising within thirty (30) days after the order of liquidation, or before the policy expiration date if less than thirty (3…

41-3609. PLAN OF OPERATION -- APPROVAL -- ADOPTION OF INTERIM RULES BY DIRECTOR -- CONTENTS OF PLAN -- DELEGATION OF POWERS AND DUTIES -- REIMBURSEMENT OF DELEGATE CORPORATION OR ORGANIZATION. (1) (a) The association shall submit to the director a plan of operation and any amendm…

41-3610. DUTIES AND POWERS OF DIRECTOR -- JUDICIAL REVIEW. (1) The director shall: (a) Notify the association of the existence of an insolvent insurer not later than three (3) days after he receives notice of the determination of the insolvency. The association shall be entitled …

41-3611. SUBROGATION OF ASSOCIATION TO RIGHTS OF CLAIMANTS -- RECEIVER, LIQUIDATOR, OR SUCCESSOR BOUND BY ASSOCIATION CLAIM SETTLEMENTS -- PERIODIC FILING OF STATEMENTS OF PAID CLAIMS WITH RECEIVER OR LIQUIDATOR. (1) Any person recovering under this act shall be deemed to have as…

41-3612. EXHAUSTION OF OTHER COVERAGE. (1) Any person having a claim against an insurer, whether or not the insurer is a member insurer, under any provision in an insurance policy other than a policy of an insolvent insurer which is also a covered claim, shall be required to exha…

41-3613. PREVENTION OF INSOLVENCIES. To aid in the detection and prevention of insurer insolvencies: (1) The board of directors, upon majority vote, may make recommendations to the director for the detection and prevention of insurer insolvencies. Such recommendations shall not b…

41-3614. REGULATION BY DIRECTOR -- ANNUAL REPORTS TO DIRECTOR. The association shall be subject to examination and regulation by the director. The board of directors shall submit, not later than March 30 of each year, a financial report for the preceding calendar year in a form a…

41-3615. EXEMPTION FROM TAXES -- EXCEPTION. The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on real or personal property.

41-3616. CREDITS FOR ASSESSMENTS PAID. (1) A member insurer may offset against its premium tax liability to this state under section 41-402, Idaho Code, an assessment described in subsection (1)(d) of section 41-3608, Idaho Code. An offset is allowable to the extent of twenty per…

41-3617. NO LIABILITY FOR ACTIONS TAKEN PURSUANT TO ACT. There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer, the association or its agents or employees, the board of directors, or any person serving as a represen…

41-3618. STAY OF COURT PROCEEDINGS FOR INSOLVENCY -- SETTING ASIDE JUDGMENT AGAINST INSOLVENT INSURER. All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this state shall, subject to written waiver by the association in spe…

41-3619. PROTECTION OF ACT NOT USED TO SELL INSURANCE. It is an unfair trade practice for any insurer or agent to in any manner make use of the protection given policyholders by this chapter as a reason for buying insurance from him.

41-3620. TERMINATION OF OPERATION OF ASSOCIATION AS TO INSURANCE COVERED BY OTHER PLAN -- DISSOLUTION OF ASSOCIATION AND DISTRIBUTION OF ASSETS -- EXPIRATION OF ACT. (1) The director shall by order terminate the operation of the Idaho insurance guaranty association as to any kind…

41-3621. COOPERATION OF LIQUIDATOR, RECEIVER, OR STATUTORY SUCCESSOR OF AN INSOLVENT INSURER. The liquidator, receiver, or statutory successor of an insolvent insurer covered by this act shall permit access by the board of directors or its authorized representative to such of the…