41-3345. UNCLAIMED AND WITHHELD FUNDS. (1) All unclaimed funds subject to distribution remaining in the liquidator’s hands when he is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member, or other person who is unknown or cannot be found, shall be deposited with the state treasurer, and shall be paid without interest except in accordance with section 41-3342, Idaho Code, to the person entitled thereto or his legal representative upon proof satisfactory to the state treasurer of his right thereto. Any amount on deposit not claimed within six (6) years from discharge of the liquidator shall be deemed to have been abandoned and shall be escheated without formal escheat proceedings and be deposited with the state treasurer pursuant to chapter 5, title 14, Idaho Code.
(2) All funds withheld under section 41-3337, Idaho Code, and not distributed shall upon discharge of the liquidator be deposited with the state treasurer and paid by him in accordance with section 41-3342, Idaho Code. Any sums remaining which under section 41-3342, Idaho Code, would revert to the undistributed assets of the insurer shall be transferred to the state treasurer and become the property of the state under subsection (1) hereof, unless the director in his discretion petitions the court to reopen the liquidation under section 41-3347, Idaho Code.
History:
[41-3345, added 1981, ch. 249, sec. 2, p. 534; am. 2011, ch. 151, sec. 23, p. 430.]
Structure Idaho Code
Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION
Section 41-3301 - CONSTRUCTION AND PURPOSE.
Section 41-3302 - PERSONS COVERED.
Section 41-3303 - DEFINITIONS.
Section 41-3304 - JURISDICTION AND VENUE.
Section 41-3305 - INJUNCTIONS AND ORDERS.
Section 41-3306 - COOPERATIONS OF OFFICERS, OWNERS, AND EMPLOYEES.
Section 41-3308 - CONTINUATION OF DELINQUENCY PROCEEDINGS.
Section 41-3309 - DIRECTOR’S SUMMARY ORDERS AND SUPERVISION PROCEEDINGS.
Section 41-3310 - COURT’S SEIZURE ORDER.
Section 41-3312 - GROUNDS FOR REHABILITATION.
Section 41-3313 - REHABILITATION ORDERS.
Section 41-3314 - POWERS AND DUTIES OF THE REHABILITATOR.
Section 41-3315 - ACTIONS BY AND AGAINST REHABILITATOR.
Section 41-3316 - TERMINATION OF REHABILITATION.
Section 41-3317 - GROUNDS FOR LIQUIDATION.
Section 41-3318 - LIQUIDATION ORDERS.
Section 41-3319 - CONTINUANCE OF COVERAGE.
Section 41-3320 - INSURER — DISSOLUTION.
Section 41-3321 - POWERS OF LIQUIDATOR.
Section 41-3322 - NOTICE TO CREDITORS AND OTHERS.
Section 41-3323 - DUTIES OF AGENTS.
Section 41-3324 - ACTIONS BY AND AGAINST LIQUIDATOR.
Section 41-3325 - COLLECTION AND LIST OF ASSETS.
Section 41-3326 - FRAUDULENT TRANSFERS PRIOR TO PETITION.
Section 41-3327 - FRAUDULENT TRANSFER AFTER PETITION.
Section 41-3328 - VOIDABLE PREFERENCES AND LIENS.
Section 41-3329 - CLAIMS OF HOLDERS OF VOID OR VOIDABLE RIGHTS.
Section 41-3331 - ASSESSMENTS.
Section 41-3332 - REINSURER’S LIABILITY.
Section 41-3333 - RECOVERY OF PREMIUMS OWED.
Section 41-3334 - DOMICILIARY LIQUIDATOR’S PROPOSAL TO DISTRIBUTE ASSETS.
Section 41-3335 - FILING OF CLAIMS.
Section 41-3336 - PROOF OF CLAIM.
Section 41-3337 - SPECIAL CLAIMS.
Section 41-3338 - SPECIAL PROVISIONS FOR THIRD PARTY CLAIMS.
Section 41-3339 - DISPUTED CLAIMS.
Section 41-3340 - CLAIMS OF SURETY.
Section 41-3341 - SECURED CREDITOR’S CLAIMS.
Section 41-3342 - PRIORITY OF DISTRIBUTION.
Section 41-3343 - LIQUIDATOR’S RECOMMENDATIONS TO THE COURT.
Section 41-3344 - DISTRIBUTION OF ASSETS.
Section 41-3345 - UNCLAIMED AND WITHHELD FUNDS.
Section 41-3346 - TERMINATION OF PROCEEDINGS.
Section 41-3347 - REOPENING LIQUIDATION.
Section 41-3348 - DISPOSITION OF RECORDS DURING AND AFTER TERMINATION OF LIQUIDATION.
Section 41-3349 - EXTERNAL AUDIT OF THE RECEIVER’S BOOKS.
Section 41-3350 - CONSERVATION OF PROPERTY OF FOREIGN OR ALIEN INSURERS FOUND IN THIS STATE.
Section 41-3351 - LIQUIDATION OF PROPERTY OF FOREIGN OR ALIEN INSURERS FOUND IN THIS STATE.
Section 41-3352 - DOMICILIARY LIQUIDATORS IN OTHER STATES.
Section 41-3353 - ANCILLARY FORMAL PROCEEDINGS.
Section 41-3354 - ANCILLARY SUMMARY PROCEEDINGS.
Section 41-3355 - CLAIMS OF NONRESIDENTS AGAINST INSURERS DOMICILED IN THIS STATE.
Section 41-3356 - CLAIMS OF RESIDENTS AGAINST INSURERS DOMICILED IN RECIPROCAL STATES.
Section 41-3357 - ATTACHMENT, GARNISHMENT, AND LEVY OF EXECUTION.
Section 41-3358 - INTERSTATE PRIORITIES.
Section 41-3359 - SUBORDINATION OF CLAIMS FOR NONCOOPERATION.