41-4302. PURPOSE. (1) The purpose of this chapter is to protect, subject to certain limitations, the persons specified in section 41-4303(1), Idaho Code, against failure in the performance of contractual obligations under life and health insurance policies and annuity contracts specified in section 41-4303(2), Idaho Code, because of the impairment or insolvency of the member insurer that issued the policies or contracts.
(2) To provide the protection stated in subsection (1) of this section, an association of insurers will pay benefits and continue coverages as provided for and limited by this chapter. Members of the association are subject to assessment to provide funds to carry out the purpose of this chapter.
History:
[41-4302, added 2011, ch. 196, sec. 2, p. 559.]
Structure Idaho Code
Chapter 43 - IDAHO LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION ACT
Section 41-4301 - SHORT TITLE.
Section 41-4303 - COVERAGE AND LIMITATIONS.
Section 41-4304 - CONSTRUCTION.
Section 41-4305 - DEFINITIONS.
Section 41-4306 - CREATION OF THE ASSOCIATION.
Section 41-4307 - BOARD OF DIRECTORS.
Section 41-4308 - POWERS AND DUTIES OF THE ASSOCIATION.
Section 41-4309 - ASSESSMENTS.
Section 41-4310 - PLAN OF OPERATION.
Section 41-4311 - DUTIES AND POWERS OF THE DIRECTOR.
Section 41-4312 - PREVENTION OF INSOLVENCIES.
Section 41-4313 - CREDITS FOR ASSESSMENTS PAID.
Section 41-4314 - MISCELLANEOUS PROVISIONS.
Section 41-4315 - EXAMINATION OF THE ASSOCIATION –- ANNUAL REPORT.
Section 41-4316 - TAX EXEMPTIONS.
Section 41-4318 - STAY OF PROCEEDING –- REOPENING DEFAULT JUDGMENTS.