41-3606. INSURANCE GUARANTY ASSOCIATION — INSURERS REQUIRED TO BE MEMBERS — PURPOSES. There is created a nonprofit unincorporated legal entity to be known as the Idaho insurance guaranty association. All insurers defined as member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under section 41-3609, Idaho Code, and shall exercise its powers through a board of directors established under section 41-3607, Idaho Code. For purposes of administration and assessment, the association shall maintain one (1) account. Any accounts in existence on June 30, 2001, shall be consolidated into one (1) account.
History:
[41-3606, added 1970, ch. 152, sec. 6, p. 462; am. 2001, ch. 155, sec. 2, p. 560.]
Structure Idaho Code
Chapter 36 - INSURANCE GUARANTY ASSOCIATION
Section 41-3601 - SHORT TITLE.
Section 41-3603 - APPLICATION OF ACT.
Section 41-3605 - DEFINITIONS.
Section 41-3606 - INSURANCE GUARANTY ASSOCIATION — INSURERS REQUIRED TO BE MEMBERS — PURPOSES.
Section 41-3608 - OBLIGATIONS AND POWERS OF ASSOCIATION.
Section 41-3610 - DUTIES AND POWERS OF DIRECTOR — JUDICIAL REVIEW.
Section 41-3612 - EXHAUSTION OF OTHER COVERAGE.
Section 41-3613 - PREVENTION OF INSOLVENCIES.
Section 41-3614 - REGULATION BY DIRECTOR — ANNUAL REPORTS TO DIRECTOR.
Section 41-3615 - EXEMPTION FROM TAXES — EXCEPTION.
Section 41-3616 - CREDITS FOR ASSESSMENTS PAID.
Section 41-3617 - NO LIABILITY FOR ACTIONS TAKEN PURSUANT TO ACT.
Section 41-3619 - PROTECTION OF ACT NOT USED TO SELL INSURANCE.