41-2928. SUBSCRIBERS’ SHARE IN ASSETS. Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in section 41-2916 of this chapter, and the return of any unused premium, savings, or credits then standing on subscribers’ accounts, shall be distributed to its subscribers who were such within the twelve (12) months prior to the last termination of its certificate of authority, according to such reasonable formula as the director may approve.
History:
[41-2928, added 1961, ch. 330, sec. 655, p. 645.]
Structure Idaho Code
Chapter 29 - RECIPROCAL INSURERS
Section 41-2901 - “RECIPROCAL” INSURANCE DEFINED.
Section 41-2902 - “RECIPROCAL INSURER” DEFINED.
Section 41-2903 - SCOPE OF CHAPTER — EXISTING INSURERS.
Section 41-2904 - INSURING POWERS OF RECIPROCALS.
Section 41-2905 - NAME — SUITS.
Section 41-2906 - SURPLUS FUNDS REQUIRED.
Section 41-2908 - ORGANIZATION OF RECIPROCAL INSURER.
Section 41-2909 - CERTIFICATE OF AUTHORITY.
Section 41-2910 - POWER OF ATTORNEY OR JOINT POWERS ENTITY.
Section 41-2911 - MODIFICATIONS.
Section 41-2912 - ATTORNEY’S BOND.
Section 41-2913 - DEPOSIT IN LIEU OF BOND.
Section 41-2914 - ACTION ON BOND.
Section 41-2915 - SERVICE OF PROCESS — JUDGMENT.
Section 41-2916 - CONTRIBUTIONS TO INSURER.
Section 41-2917 - ANNUAL STATEMENT.
Section 41-2918 - FINANCIAL CONDITION — METHOD OF DETERMINING.
Section 41-2919 - WHO MAY BE SUBSCRIBERS.
Section 41-2920 - SUBSCRIBERS’ ADVISORY COMMITTEE.
Section 41-2921 - SUBSCRIBERS’ LIABILITY.
Section 41-2922 - SUBSCRIBERS’ LIABILITY ON JUDGMENT.
Section 41-2923 - ASSESSMENTS.
Section 41-2924 - TIME LIMIT FOR ASSESSMENT.
Section 41-2925 - AGGREGATE LIABILITY.
Section 41-2926 - NONASSESSABLE POLICIES.
Section 41-2927 - DISTRIBUTION OF SAVINGS.
Section 41-2928 - SUBSCRIBERS’ SHARE IN ASSETS.