Idaho § 41-2850 NONASSESSABLE POLICIES — REVOCATION OF AUTHORITY

Idaho Statutes

§ 41-2850 — NONASSESSABLE POLICIES — REVOCATION OF AUTHORITY

Idaho § 41-2850

Title 41INSURANCE

Ch. 28ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS

This text of Idaho § 41-2850 (NONASSESSABLE POLICIES — REVOCATION OF AUTHORITY) 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 § 41-2850 (2026).

Text

(1)The director shall revoke the authority of a domestic mutual insurer to issue policies without contingent liability if

(a)At any time the insurer’s assets are less than the sum of its liabilities and the surplus required for such authority, or

(b)The insurer, by resolution of its board of directors approved by a majority of its members, requests that the authority be revoked.

(2)During the absence of such authority the insurer shall not issue any policy without providing therein for the contingent liability of the policyholder, nor renew any policy which is then in force without endorsing the same to provide for such contingent liability.

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(1) The director shall revoke the authority of a domestic mutual insurer to issue policies without contingent liability if
(a) At any time the insurer’s assets are less than the sum of its liabilities and the surplus required for such authority, or
(b) The insurer, by resolution of its board of directors approved by a majority of its members, requests that the authority be revoked.
(2) During the absence of such authority the insurer shall not issue any policy without providing therein for the contingent liability of the policyholder, nor renew any policy which is then in force without endorsing the same to provide for such contingent liability.