Idaho § 41-2918 FINANCIAL CONDITION — METHOD OF DETERMINING

Idaho Statutes

§ 41-2918 — FINANCIAL CONDITION — METHOD OF DETERMINING

Idaho·Title 41 INSURANCE·Ch. 29 RECIPROCAL INSURERS

In determining the financial condition of a reciprocal insurer the director shall apply the following rules:

(1)He shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.

(2)The surplus deposits of subscribers shall be allowed as assets, except that any premium deposits delinquent for ninety (90) days shall first be charged against such surplus deposit.

(3)The surplus deposits of subscribers shall not be charged as a liability.

(4)All premium deposits delinquent less than ninety (90) days shall be allowed as assets.

(5)An assessment levied upon subscribers, and not collected, shall not be allowed as an asset.

(6)The contingent liability of subscribers shall not be allowed as an asset.

(7)The computatio

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In determining the financial condition of a reciprocal insurer the director shall apply the following rules:
(1) He shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.
(2) The surplus deposits of subscribers shall be allowed as assets, except that any premium deposits delinquent for ninety (90) days shall first be charged against such surplus deposit.
(3) The surplus deposits of subscribers shall not be charged as a liability.
(4) All premium deposits delinquent less than ninety (90) days shall be allowed as assets.
(5) An assessment levied upon subscribers, and not collected, shall not be allowed as an asset.
(6) The contingent liability of subscribers shall not be allowed as an asset.
(7) The computation of reserves shall be based upon premium deposits other than membership fees and without any deduction for expenses and the compensation of the attorney.

Idaho § 41-2918 (FINANCIAL CONDITION — METHOD OF DETERMINING) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

[41-2918, added 1961, ch. 330, sec. 645, p. 645; am. 1979, ch. 318, sec. 3, p. 855; am. 1995, ch. 96, sec. 7, p. 278; am. 2005, ch. 72, sec. 1, p. 248.]