41-5816. ESCROW OR TRUST ACCOUNTS. A public adjuster who receives, accepts or holds any funds on behalf of an insured, towards the settlement of a claim for loss or damage, shall deposit the funds in a noninterest bearing escrow or trust account in a financial institution that is insured by an agency of the federal government in the public adjuster’s home state or where the loss occurred.
History:
[41-5816, added 2008, ch. 179, sec. 1, p. 541.]
Structure Idaho Code
Chapter 58 - PUBLIC ADJUSTER LICENSING ACT
Section 41-5801 - PURPOSE AND SCOPE.
Section 41-5802 - DEFINITIONS.
Section 41-5803 - LICENSE REQUIRED.
Section 41-5804 - EXCEPTIONS TO LICENSING.
Section 41-5805 - APPLICATION FOR LICENSE.
Section 41-5806 - LICENSE QUALIFICATIONS.
Section 41-5807 - EXAMINATION.
Section 41-5808 - EXEMPTIONS FROM EXAMINATION.
Section 41-5809 - NONRESIDENT LICENSE RECIPROCITY.
Section 41-5811 - LICENSE DENIAL, NONRENEWAL OR REVOCATION.
Section 41-5812 - BOND OR LETTER OF CREDIT.
Section 41-5813 - CONTINUING EDUCATION.
Section 41-5814 - PUBLIC ADJUSTER FEES.
Section 41-5815 - CONTRACT BETWEEN PUBLIC ADJUSTER AND INSURED.
Section 41-5816 - ESCROW OR TRUST ACCOUNTS.
Section 41-5817 - RECORD RETENTION.
Section 41-5818 - STANDARDS OF CONDUCT OF PUBLIC ADJUSTER.