41-4925A. AMENDMENTS TO PLAN OF OPERATION. (1) Any amendment to the plan of operation prepared by the administrator for the purpose of deferring the issuance of contracts of insurance to any category of petroleum storage tank owners or operators or for issuing contracts of insurance to any deferred category of petroleum storage tank owners or operators shall be submitted to the director of the department of insurance.
(2) The director shall review the amendment and shall, with all reasonable promptness, approve, approve as modified, or disapprove of the amendment to the plan of operation. If the amendment is approved, the administrator may issue contracts of insurance and otherwise operate the trust fund in a manner consistent with the amended plan of operation. If the amendment is disapproved, the administrator must operate the trust fund in a manner consistent with the provisions of the plan of operation as submitted to the director in the trust fund’s application for registration under section 41-4925, Idaho Code.
(3) The director may request such relevant documentation and information, including an actuarial analysis of the underwriting capacity of the trust fund, as is reasonably necessary to evaluate the proposed amendment to the plan of operation.
(4) All procedures and policies concerning the approval, modification or disapproval of any amendment to the plan of operation are subject to the provisions of chapter 52, title 67, Idaho Code, as well as the rules of practice and procedure of the department of insurance.
History:
[(41-4925A) 41-4924A, added 1991, ch. 59, sec. 18, p. 130; am. & redesig. 2003, ch. 96, sec. 28, p. 300.]
Structure Idaho Code
Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT
Section 41-4901 - SHORT TITLE.
Section 41-4902 - LEGISLATIVE FINDINGS AND INTENT.
Section 41-4903 - DEFINITIONS.
Section 41-4904 - BOARD OF TRUSTEES OF THE FUND.
Section 41-4906 - LIMITS OF LIABILITY FOR CONTRACTS OF INSURANCE ISSUED BY THE ADMINISTRATOR.
Section 41-4907 - OWNER OR OPERATOR FINANCIAL RESPONSIBILITY.
Section 41-4908 - EXCLUSIVENESS OF REMEDY.
Section 41-4910 - DISTRIBUTION OF APPLICATION FEES AND TRANSFER FEES.
Section 41-4911A - PROVISIONS OF CONTRACTS OF INSURANCE — RENEWAL.
Section 41-4912 - STORAGE TANKS ELIGIBLE FOR INSURANCE.
Section 41-4912A - STORAGE TANKS LOCATED ON SITES WHERE CONTAMINATION IS PRESENT.
Section 41-4913 - STATE TREASURER CUSTODIAN OF TRUST FUND — DUTIES.
Section 41-4914 - DEPOSIT AND INVESTMENT OF FUNDS — INTEREST.
Section 41-4915 - PERPETUAL APPROPRIATION.
Section 41-4916 - ENROLLED SUBSCRIBERS’ LIABILITY ON JUDGMENT.
Section 41-4918 - CANCELLATION OF INSURANCE.
Section 41-4919 - REINSURANCE.
Section 41-4920 - PAYMENTS FROM THE TRUST FUND BY STATE TREASURER.
Section 41-4921 - RESERVE FUNDS.
Section 41-4922 - PLAN OF OPERATION.
Section 41-4923 - REGISTRATION OF THE TRUST FUND.
Section 41-4924 - QUALIFICATIONS FOR REGISTRATION.
Section 41-4925 - APPLICATION FOR REGISTRATION — FEE.
Section 41-4925A - AMENDMENTS TO PLAN OF OPERATION.
Section 41-4926 - GRANT OR DENIAL OF REGISTRATION.
Section 41-4927 - BYLAWS OF THE FUND.
Section 41-4928 - RECORDS AND ACCOUNTS — ANNUAL STATEMENT.
Section 41-4929 - MANAGEMENT CONTRACT WITH THE ADMINISTRATOR — MANDATORY PROVISIONS.
Section 41-4930 - EXISTING INSURANCE LAWS TO APPLY TO THE TRUST FUND WITH CERTAIN EXCEPTIONS.
Section 41-4932 - EXAMINATION OF BOOKS, RECORDS AND ACCOUNTS.
Section 41-4933 - ADMINISTRATOR — FIDELITY BONDS.
Section 41-4934 - PROHIBITED PECUNIARY INTERESTS IN PLAN MANAGEMENT.
Section 41-4935 - POLITICAL CONTRIBUTIONS PROHIBITED.
Section 41-4936 - RECOVERY OF DEPLETED FUNDS.
Section 41-4937 - IMPAIRED TRUST FUND.
Section 41-4938 - LIQUIDATION OF TRUST FUND.
Section 41-4939 - VOUCHERS FOR EXPENDITURES.
Section 41-4940 - BORROWED SURPLUS AND SUBORDINATED INDEBTEDNESS.
Section 41-4942 - RULES — DIRECTOR — DEPARTMENT OF INSURANCE.
Section 41-4943 - APPLICATION OF CHAPTER.