Idaho § 22-5114 INSURANCE — CANCELLATION PROCEDURE — SUSPENSION OF LICENSE — SELF-INSURANCE

Idaho Statutes

§ 22-5114 — INSURANCE — CANCELLATION PROCEDURE — SUSPENSION OF LICENSE — SELF-INSURANCE

Idaho § 22-5114

Title 22AGRICULTURE AND HORTICULTURE

Ch. 51SEED INDEMNITY FUND LAW

This text of Idaho § 22-5114 (INSURANCE — CANCELLATION PROCEDURE — SUSPENSION OF LICENSE — SELF-INSURANCE) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 22-5114 (2026).

Text

(1)Every seed buyer who has a seed facility where seed crops are stored for withdrawal or transferred, shall maintain a "commercial property policy" of insurance, or its equivalent, issued by a company qualified to do business in the state in which the facility is located. The amount of insurance shall be sufficient to cover the property loss of the insured and such additional amounts that are:

(a)greater than or equal to the total seed buyer indebtedness and the value of seed crop stored for withdrawal during the previous license year, or (b) estimated current calendar year seed crop indebtedness to producers and the value of seed crop to be stored for withdrawal. The department rules shall enumerate the perils to be covered by the policy.

(2)The insurance company issuing the policy of

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(1) Every seed buyer who has a seed facility where seed crops are stored for withdrawal or transferred, shall maintain a "commercial property policy" of insurance, or its equivalent, issued by a company qualified to do business in the state in which the facility is located. The amount of insurance shall be sufficient to cover the property loss of the insured and such additional amounts that are: (a) greater than or equal to the total seed buyer indebtedness and the value of seed crop stored for withdrawal during the previous license year, or (b) estimated current calendar year seed crop indebtedness to producers and the value of seed crop to be stored for withdrawal. The department rules shall enumerate the perils to be covered by the policy.
(2) The insurance company issuing the policy of insurance shall give ninety (90) days’ advance notice to the department by registered or certified mail, return receipt requested, of cancellation of the policy.
(3) When the insurance policy of a seed buyer is canceled, the department shall immediately suspend the license of the seed buyer, and the suspension shall be in effect until satisfactory evidence exists that an effective policy of insurance complying with the requirements of this chapter has been submitted to the department.
(4) Seed buyers desiring to be self-insured shall apply to the department for authorization to self-insure. Application shall be made on forms prescribed by the department.