41-3112A. ADVANCE PREMIUMS — RETURN PREMIUMS. (1) Advance premiums. A county mutual insurer having a surplus over all liabilities of not less than $50,000, including a liability for unearned premiums, and for so long as such surplus is continuously maintained, such insurer may bill and collect assessments on the advance premium basis.
(2) Return premium. Upon the termination of any policy of insurance during any effective policy year, the unearned premium shall be returned to a member policyholder in accordance with the rules for pro-rata and short rate cancelations applying to casualty insurance policies.
(3) The limitations as to the emergency fund imposed by section 41-3112(3) shall not apply to a county mutual insurer qualifying under this section to collect premiums in advance.
History:
[I.C., sec. 41-3112A, as added by 1965, ch. 277, sec. 1, p. 724.]
Structure Idaho Code
Chapter 31 - COUNTY MUTUAL INSURERS
Section 41-3101 - SCOPE OF CHAPTER — PROVISIONS EXCLUSIVE.
Section 41-3102 - ORGANIZATION OF COUNTY MUTUAL FIRE INSURERS.
Section 41-3102A - CONVERSION INTO DOMESTIC MUTUAL.
Section 41-3103 - FILING OF ARTICLES — COMMENCEMENT OF BUSINESS.
Section 41-3104 - INSURING POWERS.
Section 41-3104A - PROPERTY USED TO FIGHT FIRES — CHARGES.
Section 41-3105 - INSURER’S TERRITORY.
Section 41-3106 - LIMIT OF RISK.
Section 41-3107 - REINSURANCE.
Section 41-3108 - CERTIFICATE OF AUTHORITY REQUIRED.
Section 41-3111 - ADVANCE PAYMENTS BY MEMBERS.
Section 41-3112 - ASSESSMENTS.
Section 41-3112A - ADVANCE PREMIUMS — RETURN PREMIUMS.
Section 41-3114 - INVESTMENTS.
Section 41-3115 - SITE FOR HEAD OFFICE.
Section 41-3116 - RECORDS — ANNUAL STATEMENT.