reglab/housing_qa huggingface dataset:
ID Code § 41-3317 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3317 - GROUNDS FOR LIQUIDATION.

41-3317. GROUNDS FOR LIQUIDATION. The director may petition the district court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis: (1) Of any ground for an order of rehabilitation as specified in section 41-3312, Idaho Code, whether or not there has been a prior order directing the rehabilitation of the insurer; (2) That the insurer is insolvent; or (3) That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.  History: [41-3317, added 1981, ch. 249, sec. 2, p. 515.]
ID Code § 41-3318 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3318 - LIQUIDATION ORDERS.

41-3318. LIQUIDATION ORDERS. (1) An order to liquidate the business of a domestic insurer shall appoint the director and his successors in office liquidator and shall direct the liquidator forthwith to take possession of the assets of the insurer and to administer them under the general supervision of the court. The liquidator shall be vested by operation of law with the title to all of the property, contracts, and rights of action and all of the books and records of the insurer ordered liquidated, wherever located, as of the entry of the final order of liquidation. The filing or recording of the order with the clerk of the district court and the recorder of deeds of the county in which its principal office or place of business is located, or, in the case of real estate, with the recorder of deeds of the county where the property is located, shall impart the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that recorder of deeds would have imparted. (2) Upon issuance of the order, the rights and liabilities of any such insurer and of its creditors, policyholders, shareholders, members, and all other persons interested in its estate shall become fixed as of the date of entry of the order of liquidation, except as provided in sections 41-3319 and 41-3337, Idaho Code. (3) An order to liquidate the business of an alien insurer domiciled in this state shall be in the same terms and have the same legal effect as an order to liquidate a domestic insurer, except that the assets and the business in the United States shall be the only assets and business included therein. (4) At the time of petitioning for an order of liquidation, or at any time thereafter, the director, after making appropriate findings of an insurer’s insolvency, may petition the court for a judicial declaration of such insolvency. After providing such notice and hearing as it deems proper the court may make the declaration. (5) Any order issued under the provisions of this section shall require accounting to the court by the liquidator. Accountings shall be at such intervals as the court specifies in its order.  History: [41-3318, added 1981, ch. 249, sec. 2, p. 515.]
ID Code § 41-3319 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3319 - CONTINUANCE OF COVERAGE.

41-3319. CONTINUANCE OF COVERAGE. (1) All policies, other than life or health insurance or annuities, in effect at the time of issuance of an order of liquidation shall continue in force only for the lesser of: (a) A period of thirty (30) days from the date of entry of the liquidation orders; (b) The expiration of the policy coverage; (c) The date when the insured has replaced the insurance coverage with equivalent insurance in another insurer or otherwise terminated the policy; or (d) The liquidator has effected a transfer of the policy obligation pursuant to section 41-3321(1)(h), Idaho Code. (2) An order or liquidation under the provisions of section 41-3318, Idaho Code, shall terminate coverages at the time specified in subsection (1) of this section for purposes of any other statute. (3) Policies of life or health insurance or annuities shall continue in force for such period and under such terms as are provided for by any applicable guaranty association or foreign guaranty association. (4) Policies of life or health insurance or annuities or any period or coverage of such policies not covered by a guaranty association or foreign guaranty association shall terminate under the provisions of subsections (1) and (2) hereof.  History: [41-3319, added 1981, ch. 249, sec. 2, p. 516.]
ID Code § 41-3320 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3320 - INSURER — DISSOLUTION.

41-3320. INSURER — DISSOLUTION. The director may petition for an order dissolving the corporate existence of a domestic insurer or the United States branch of an alien insurer domiciled in this state at the time he applies for a liquidation order. The court shall order dissolution of the corporation upon petition by the director upon or after the granting of a liquidation order. If the dissolution has not previously been ordered, it shall be effected by operation of law upon the discharge of the liquidator if the insurer is insolvent, but may be ordered by the court upon the discharge of the liquidator if the insurer is under a liquidation order for some other reason.  History: [41-3320, added 1981, ch. 249, sec. 2, p. 516.]
ID Code § 41-3322 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3322 - NOTICE TO CREDITORS AND OTHERS.

41-3322. NOTICE TO CREDITORS AND OTHERS. (1) Unless the court otherwise directs, the liquidator shall give or cause to be given notice of the liquidation order as soon as possible: (a) By first class mail and either by telegram or telephone to the insurance director of each jurisdiction in which the insurer is doing business; (b) By first class mail to any guaranty association or foreign guaranty association which is or may become obligated as a result of the liquidation; (c) By first class mail to all insurance agents of the insurer; (d) By first class mail to all persons known or reasonably expected to have claims against the insurer, including, but not limited to, all policyholders, at their last known address as indicated by the records of the insurer and the director of the department of finance and the secretary of state; and (e) By publication in a newspaper of general circulation in the county in which the insurer has its principal place of business and in such other locations as the liquidator deems appropriate. (2) Notice to potential claimants under the provisions of subsection (1) of this section shall require claimants to file their claims with the liquidator together with proper proofs thereof under the provisions of section 41-3336, Idaho Code, on or before a date the liquidator shall specify in the notice. The liquidator need not require persons claiming cash surrender values or other investment values in life insurance and annuities to file a claim. All claimants shall have a duty to keep the liquidator informed of any changes of address. (3) If notice is given in accordance with the provisions of this section, the distribution of assets of the insurer under this chapter shall be conclusive with respect to all claimants, whether or not they received notice.  History: [41-3322, added 1981, ch. 249, sec. 2, p. 519.]
ID Code § 41-3323 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3323 - DUTIES OF AGENTS.

41-3323. DUTIES OF AGENTS. (1) Every person who receives notice in the form prescribed in section 41-3322, Idaho Code, that an insurer which he represents as an agent is the subject of a liquidation order, shall within fifteen (15) days of such notice give notice of the liquidation order. The notice shall be sent by first class mail to the last address contained in the agent’s records to each policyholder or other person named in any policy issued through the agent by the insurer, if he has a record of the address of the policyholder or other person. A policy shall be deemed issued through an agent if the agent has a property interest in the expiration of the policy, or if the agent has had in his possession a copy of the declarations of the policy at any time during the life of the policy, except where the ownership of the expiration of the policy has been transferred to another. The written notice shall include the name and address of the insurer, the name and address of the agent, identification of the policy impaired and the nature of the impairment including termination of coverage, as described in section 41-3319, Idaho Code. Notice by a general agent satisfies the notice requirement for any agents under contract to him. Each agent obligated to give notice under the provisions of this section shall file a report of compliance with the liquidator. (2) Any agent failing to give notice or file a report of compliance as required in subsection (1) of this section may be subject to payment of a penalty of not more than one thousand dollars ($1,000) and may have his license suspended, said penalty to be imposed after a hearing held by the director. (3) The liquidator may waive the duties imposed by this section if he determines that other notice to the policyholders of the insurer under liquidation is adequate.  History: [41-3323, added 1981, ch. 249, sec. 2, p. 519.]
ID Code § 41-3324 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3324 - ACTIONS BY AND AGAINST LIQUIDATOR.

41-3324. ACTIONS BY AND AGAINST LIQUIDATOR. (1) Upon issuance of an order appointing a liquidator of a domestic insurer or of an alien insurer domiciled in this state, no action at law or equity shall be brought against the insurer or liquidator, whether in this state or elsewhere, nor shall any such existing actions be maintained or further presented after issuance of such order. The courts of this state shall give full faith and credit to injunctions against the liquidator or the company or the continuation of existing actions against the liquidator or the company, when such injunctions are included in an order to liquidate an insurer issued pursuant to corresponding provisions in other states. Whenever in the liquidator’s judgment, protection of the estate of the insurer necessitates intervention in an action against the insurer that is pending outside this state, he may intervene in the action. The liquidator may defend any action in which he intervenes under the provisions of this section at the expense of the estate of the insurer. (2) The liquidator may, upon or after an order for liquidation, within two (2) years or such time in addition to two (2) years as applicable law may permit, institute an action or proceeding on behalf of the estate of the insurer upon any cause of action against which the period of limitation fixed by applicable law has not expired at the time of the filing of the petition upon which such order is entered. Where, by any agreement, a period of limitation is fixed for instituting a suit or proceeding upon any claim, or for filing any claim, proof of claim, proof of loss, demand, notice, or the like, or where in any proceeding, judicial or otherwise, a period of limitation is fixed, either in the proceeding or by applicable law, for taking any action, filing any claim or pleading, or doing any act, and where in any such case the period had not expired at the date of the filing of the petition, the liquidator may, for the benefit of the estate, take any such action or do any such act, required of or permitted to the insurer, within a period of one hundred eighty (180) days subsequent to the entry of an order for liquidation, or within such further period as is shown to the satisfaction of the court not to be unfairly prejudicial to the other party. (3) No statute of limitations or defense of laches shall run with respect to any action against an insurer between the filing of a petition for liquidation against an insurer and the denial of the petition. Any action against the insurer that might have been commenced when the petition was filed may be commenced for at least sixty (60) days after the petition is denied. (4) Any guaranty association or foreign guaranty association shall have standing to appear in any court proceeding concerning the liquidation of an insurer if such association is or may become liable to act as a result of the liquidation.  History: [41-3324, added 1981, ch. 249, sec. 2, p. 520.]
ID Code § 41-3325 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3325 - COLLECTION AND LIST OF ASSETS.

41-3325. COLLECTION AND LIST OF ASSETS. (1) As soon as practicable after the liquidation order but not later than one hundred twenty (120) days thereafter, the liquidator shall prepare in duplicate a list of the insurer’s assets. The list shall be amended or supplemented from time to time as the liquidator may determine. One (1) copy shall be filed in the office of the clerk of the district court and one (1) copy shall be retained for the liquidator’s files. All amendments and supplements shall be similarly filed. (2) The liquidator shall reduce the assets to a degree of liquidity that is consistent with the effective execution of the liquidation. (3) A submission to the court for disbursement of assets in accordance with section 41-3334, Idaho Code, fulfills the requirements of subsection (1) of this section.  History: [41-3325, added 1981, ch. 249, sec. 2, p. 521.]
ID Code § 41-3326 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3326 - FRAUDULENT TRANSFERS PRIOR TO PETITION.

41-3326. FRAUDULENT TRANSFERS PRIOR TO PETITION. (1) Every transfer made or suffered and every obligation incurred by an insurer within one (1) year prior to the filing of a successful petition for rehabilitation or liquidation under this act is fraudulent as to then existing and future creditors if made or incurred without fair consideration, or with actual intent to hinder, delay, or defraud either existing or future creditors. A transfer made or an obligation incurred by an insurer ordered to be rehabilitated or liquidated under this act, which is fraudulent under the provisions of this section, may be avoided by the receiver, except as to a person who in good faith is a purchaser, lienor, or obligee for a present fair equivalent value, and except that any purchaser, lienor, or obligee, who in good faith has given a consideration less than fair for such transfer, lien, or obligation, may retain the property, lien or obligation as security for repayment. The court may, on due notice, order any such transfer or obligation to be preserved for the benefit of the estate, and in that event, the receiver shall succeed to and may enforce the rights of the purchaser, lienor, or obligee. (2) (a) A transfer of property other than real property shall be deemed to be made or suffered when it becomes so far perfected that no subsequent lien obtainable by legal or equitable proceedings on a simple contract could become superior to the rights of the transferee under the provisions of section 41-3328(3), Idaho Code. (b) A transfer of real property shall be deemed to be made or suffered when it becomes so far perfected that no subsequent bona fide purchaser from the insurer could obtain rights superior to the rights of the transferee. (c) A transfer which creates an equitable lien shall not be deemed to be perfected if there are available means by which a legal lien could be created. (d) Any transfer not perfected prior to the filing of a petition for liquidation shall be deemed to be made immediately before the filing of the successful petition. (e) The provisions of this subsection apply whether or not there are or were creditors who might have obtained any liens or persons who might have become bona fide purchasers. (3) Any transaction of the insurer with a reinsurer shall be deemed fraudulent and may be avoided by the receiver under subsection (1) of this section if: (a) The transaction consists of the termination, adjustment, or settlement of a reinsurance contract in which the reinsurer is released from any part of its duty to pay the originally specified share of losses that had occurred prior to the time of the transaction, unless the reinsurer gives a present fair equivalent value for the release; and (b) Any part of the transaction took place within one (1) year prior to the date of filing of the petition through which the receivership was commenced.  History: [41-3326, added 1981, ch. 249, sec. 2, p. 521.]
ID Code § 41-3327 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3327 - FRAUDULENT TRANSFER AFTER PETITION.

41-3327. FRAUDULENT TRANSFER AFTER PETITION. (1) After a petition for rehabilitation or liquidation has been filed, a transfer of any of the real property of the insurer made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value, or, if not made for a present fair equivalent value, then to the extent of the present consideration actually paid therefor, for which amount the transferee shall have a lien on the property so transferred. The commencement of a proceeding in rehabilitation or liquidation shall be constructive notice upon the recording of a copy of the petition for or order of rehabilitation or liquidation with the recorder of deeds in the county where any real property in question is located. The exercise by a court of the United States or any state or jurisdiction to authorize or effect a judicial sale of real property of the insurer within any county in any state shall not be impaired by the pendency of such a proceeding unless the copy is recorded in the county prior to the consummation of the judicial sale. (2) After a petition for rehabilitation or liquidation has been filed and before either the receiver takes possession of the property of the insurer or an order of rehabilitation or liquidation is granted: (a) A transfer of any of the property of the insurer, other than real property, made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value, or, if not made for a present fair equivalent value, then to the extent of the present consideration actually paid therefor, for which amount the transferee shall have a lien on the property so transferred; (b) A person indebted to the insurer or holding property of the insurer may, if acting in good faith, pay the indebtedness or deliver the property, or any part thereof, to the insurer or upon his order, with the same effect as if the petition were not pending; (c) A person having actual knowledge of the pending rehabilitation or liquidation shall be deemed not to act in good faith; and (d) A person asserting the validity of a transfer under this section shall have the burden of proof. Except as elsewhere provided in this section, no transfer by or on behalf of the insurer after the date of the petition for liquidation by any person other than the liquidator shall be valid against the liquidator. (3) Nothing in this act shall impair the negotiability of currency or negotiable instruments.  History: [41-3327, added 1981, ch. 249, sec. 2, p. 522.]
ID Code § 41-3329 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3329 - CLAIMS OF HOLDERS OF VOID OR VOIDABLE RIGHTS.

41-3329. CLAIMS OF HOLDERS OF VOID OR VOIDABLE RIGHTS. (1) No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment, or encumbrance, voidable under this act, shall be allowed unless he surrenders the preference, lien, conveyance, transfer, assignment or encumbrance. If the avoidance is effected by a proceeding in which a final judgment has been entered, the claim shall not be allowed unless the money is paid or the property is delivered to the liquidator within thirty (30) days from the date of the entering of the final judgment, except that the court having jurisdiction over the liquidation may allow further time if there is an appeal or other continuation of the proceeding. (2) A claim allowable under subsection (1) of this section by reason of the avoidance, whether voluntary or involuntary, or a preference, lien, conveyance, transfer, assignment, or encumbrance, may be filed as an excused late filing under section 41-3335, Idaho Code, if filed within thirty (30) days from the date of the avoidance, or within the further time allowed by the court under subsection (1) hereof.  History: [41-3329, added 1981, ch. 249, sec. 2, p. 526.]
ID Code § 41-3330 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 33 - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION|Section 41-3330 - SETOFFS.

41-3330. SETOFFS. (1) Mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this act shall be set off and the balance only shall be allowed or paid, except as provided in subsection (2) of this section and section 41-3333, Idaho Code. (2) No setoff shall be allowed in favor of any person where: (a) The obligation of the insurer to the person would not at the date of the filing of a petition for liquidation entitle the person to share as a claimant in the assets of the insurer; (b) The obligation of the insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff; or (c) The obligation of the person is to pay an assessment levied against the members or subscribers of the insurer, or is to pay a balance upon a subscription to the capital stock of the insurer, or is in any other way in the nature of a capital contribution.  History: [41-3330, added 1981, ch. 249, sec. 2, p. 526; am. 1996, ch. 304, sec. 1, p. 1000.]