41-1303. MISREPRESENTATION OR FALSE ADVERTISING OF POLICIES. (1) No person shall make, issue, circulate, or cause to be made, issued, or circulated, any estimate, circular, or statement misrepresenting the terms of any policy issued or to be issued or the benefits or advantages promised thereby or the dividends or share of the surplus to be received thereon, or make any false or misleading statement as to the dividends or share of surplus previously paid on similar policies, or make any misleading representation or any misrepresentation as to the financial condition of any insurer, or as to the legal reserve system upon which any life insurer operates, or use any name or title of any policy or class of policies misrepresenting the true nature thereof.
(2) No person shall misrepresent a policy for the purpose of effecting a pledge or assignment of, or effecting a loan against, any insurance policy.
(3) No person shall misrepresent any insurance policy as being shares of stock.
(4) For reasonable cause the director may in his discretion require any insurer or agent using or proposing to use in this state a prospectus, offering sheet, or other sales literature or printed sales aids in the solicitation of life or disability insurance to file the same with him for review. The director shall forthwith by order disapprove any such prospectus, sheet, literature, or aid found by him to be in violation of this section. The order shall become effective on the effective date specified therein, which date shall not be less than ten (10) days after the date the order was issued and mailed to the insurer or agent affected thereby; except, that if the insurer or agent prior to such effective date makes written request to the director for a hearing relative to the matter the director’s order shall thereby be stayed pending the hearing and the director’s further order on hearing. No insurer, agent, or other representative shall use in this state any prospectus, offering sheet, literature or sales aid after the date an order of disapproval thereof has become effective and has been communicated to the insurer. This provision shall not relieve any person of liability for penalties provided for violation of subsection (1) above.
History:
[41-1303, added 1961, ch. 330, sec. 281, p. 645; am. 1977, ch. 218, sec. 1, p. 654.]
Structure Idaho Code
Chapter 13 - TRADE PRACTICES AND FRAUDS
Section 41-1301 - PURPOSES OF TRADE PRACTICES LAW.
Section 41-1302 - UNFAIR METHODS OF COMPETITION AND DECEPTIVE ACT PROHIBITED.
Section 41-1303 - MISREPRESENTATION OR FALSE ADVERTISING OF POLICIES.
Section 41-1304 - FALSE INFORMATION AND ADVERTISING WITH RESPECT TO INSURANCE BUSINESS.
Section 41-1305 - “TWISTING” PROHIBITED.
Section 41-1306 - FALSE FINANCIAL STATEMENTS.
Section 41-1309 - BOYCOTT, COERCION AND INTIMIDATION.
Section 41-1310 - PERSON FINANCING PURCHASE OF PROPERTY NOT TO FAVOR INSURER OR AGENT.
Section 41-1311 - SELLER OF PROPERTY NOT TO FAVOR INSURER OR AGENT.
Section 41-1312 - RIGHTS WITH RESPECT TO INSURANCE ON PROPERTY SOLD OR PURCHASED.
Section 41-1313 - UNFAIR DISCRIMINATION — LIFE INSURANCE, ANNUITIES, AND DISABILITY INSURANCE.
Section 41-1314 - REBATES — ILLEGAL INDUCEMENTS.
Section 41-1315A - DISCOUNTS TO EMPLOYEES.
Section 41-1316 - STOCK OPERATIONS AND ADVISORY BOARD CONTRACTS.
Section 41-1317 - FICTITIOUS GROUPS.
Section 41-1318 - INTERLOCKING OWNERSHIP OR MANAGEMENT.
Section 41-1321 - PROCEDURES AS TO UNDEFINED PRACTICES.
Section 41-1323 - ILLEGAL DEALING IN PREMIUMS — EXCESS CHARGES FOR INSURANCE.
Section 41-1324 - REPORT OF EXACT CONSIDERATION TO INSURER.
Section 41-1325 - BORROWING MONEY FROM CLIENTS.
Section 41-1327 - VIOLATIONS — PENALTY.
Section 41-1328 - PAYMENT OF CLAIMS BY INSURERS.
Section 41-1328A - REPAIR OF MOTOR VEHICLES.
Section 41-1328B - DEFINITIONS.
Section 41-1328C - IDENTIFICATION OF PARTS.
Section 41-1328D - USE OF PARTS — DISCLOSURE.
Section 41-1329 - UNFAIR CLAIM SETTLEMENT PRACTICES.
Section 41-1329A - UNFAIR CLAIMS SETTLEMENT PRACTICES — PENALTY.
Section 41-1330 - FAILURE TO MAINTAIN COMPLAINT HANDLING PROCEDURES.
Section 41-1331 - CLAIMS FORMS STATEMENT.
Section 41-1332 - RETURN OF UNEARNED PREMIUM FOR DISABILITY POLICIES.
Section 41-1333 - REFUND OF UNEARNED HEALTH INSURANCE PREMIUMS.
Section 41-1334 - DISCLOSURE OF NONPUBLIC PERSONAL INFORMATION.
Section 41-1335 - RELEASE OF PATIENT IDENTIFIABLE PRESCRIPTION INFORMATION PROHIBITED — EXCEPTIONS.
Section 41-1336 - REQUIREMENTS FOR COMPLIANCE.
Section 41-1337 - LIFE INSURANCE — PAYMENT OF INTEREST ON BENEFITS.