reglab/housing_qa huggingface dataset:
ID Code § 41-2826 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2826 - AMENDMENT OF ARTICLES OF INCORPORATION — STOCK INSURERS.

41-2826. AMENDMENT OF ARTICLES OF INCORPORATION — STOCK INSURERS. (1) A domestic stock insurer may amend its articles of incorporation or bylaws for any lawful purpose through procedures prescribed by the statutes of this state as to business corporations in general, and by complying with the requirements of subsection (2) below. (2) No such amendment to an insurer’s articles of incorporation shall be effectuated until a fully executed copy of the certificate of amendments has been filed with the director, and has been approved by him. The director shall approve the amendment unless found by him not to be in compliance with law. At time of filing, the fee therefor shall be paid in the amount prescribed in section 41-401 (fee schedule).  History: [41-2826, added 1961, ch. 330, sec. 594, p. 645; am. 2004, ch. 239, sec. 1, p. 702.]
ID Code § 41-2827 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2827 - AMENDMENT OF ARTICLES OF INCORPORATION — MUTUAL INSURER.

41-2827. AMENDMENT OF ARTICLES OF INCORPORATION — MUTUAL INSURER. (1) A domestic mutual insurer heretofore or hereafter formed may amend its articles of incorporation for any lawful purpose by affirmative vote of a majority of those of its members present or represented by proxy at any regular annual meeting of its members, or at any special meeting called for the purpose. (2) Upon adoption of such an amendment the insurer shall make a certificate thereof in triplicate under its corporate seal, setting forth such amendment and the date and manner of the adoption thereof, which certificate shall be executed by the insurer’s president or vice-president and secretary or assistant secretary, and be verified by one of them before a notary public. The insurer shall deliver to the director the triplicate originals of the certificate together with the filing fee specified therefor in section 41-401 (fee schedule). The director shall transmit one (1) original of the proposed amendment to the attorney general for examination. If the director and the attorney general find that the certificate and the amendments comply with law, the director shall endorse his approval upon each of the triplicate originals, place one (1) set on file in his office and return the remaining originals to the insurer. The insurer shall file one (1) of such originals with the secretary of state and retain the third original for its corporate records. The amendment shall be effective when filed with the secretary of state. (3) If the director or the attorney general find that the proposed amendment or certificate does not comply with law, the director shall not approve the same, and shall return all certificates of amendment to the insurer together with his written statement of reasons for nonapproval. The filing fee shall not be returnable.  History: [41-2827, added 1961, ch. 330, sec. 595, p. 645; am. 1985, ch. 251, sec. 2, p. 585.]
ID Code § 41-2828 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2828 - INSURANCE BUSINESS EXCLUSIVE.

41-2828. INSURANCE BUSINESS EXCLUSIVE. A domestic insurer heretofore or hereafter formed shall not have corporate power to engage, and shall not directly or indirectly engage, in any business other than the insurance business and in business activities reasonably and necessarily incidental to such insurance business; except that a title insurer may also engage in business as an escrow agent.  History: [41-2828, added 1961, ch. 330, sec. 596, p. 645.]
ID Code § 41-2829 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2829 - MEMBERSHIP IN MUTUALS.

41-2829. MEMBERSHIP IN MUTUALS. (1) Each policyholder of a domestic mutual insurer, other than of a reinsurance contract, is a member of the insurer during the period of the insurance with all rights and obligations of such membership, and the policy shall so specify. (2) Any person, government or governmental agency, state or political subdivision thereof, public or private corporation, board, association, estate, trustee or fiduciary may be a member of a mutual insurer.  History: [41-2829, added 1961, ch. 330, sec. 597, p. 645.]
ID Code § 41-2830 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2830 - BY-LAWS OF MUTUAL.

41-2830. BY-LAWS OF MUTUAL. (1) A domestic mutual insurer shall have by-laws for the government of its affairs. The insurer’s initial board of directors shall adopt original by-laws, subject to the approval of the insurer’s members at the next meeting of members. (2) The by-laws shall contain provisions, consistent with this code, relating to: (a) The voting rights of members; (b) Election of directors, and the number, qualifications, terms of office and powers of directors; (c) Annual and special meetings of members; (d) The number, designation, election, terms and powers and duties of the respective corporate officers; (e) Deposit, custody, disbursement and accounting for corporate funds; (f) Fidelity bonds covering such officers and employees of the insurer handling its funds, to be issued by corporate surety and to be in such amount as may be reasonable; and (g) Such other matters as may be customary, necessary, or convenient for the management or regulation of corporate affairs. (3) The insurer shall promptly file with the director a copy, certified by the insurer’s secretary, of its by-laws and of every modification thereof or addition thereto. The director shall disapprove any by-law provision deemed by him, after a hearing held thereon, to be unlawful, unreasonable, inadequate, unfair or detrimental to the proper interests or protection of the insurer’s members or any class thereof. The insurer shall not, after receiving written notice of such disapproval and during the existence thereof, effectuate any by-law provision so disapproved.  History: [41-2830, added 1961, ch. 330, sec. 598, p. 645.]
ID Code § 41-2831 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2831 - RIGHTS OF MUTUAL MEMBERS IN GENERAL.

41-2831. RIGHTS OF MUTUAL MEMBERS IN GENERAL. (1) A domestic mutual insurer is owned by and shall be operated in the interest of its members. (2) With respect to the management, records and affairs of the insurer, a member of a mutual insurer shall have the same character of rights and relationship as a stockholder has toward a domestic stock insurer, subject to the provisions of this code.  History: [41-2831, added 1961, ch. 330, sec. 599, p. 645.]
ID Code § 41-2832 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2832 - MEETINGS OF MEMBERS OF MUTUAL INSURER.

41-2832. MEETINGS OF MEMBERS OF MUTUAL INSURER. (1) Meetings of members of a domestic mutual insurer shall be held in the city or town of its registered office in this state, except as may otherwise be provided in the insurer’s by-laws with the director’s approval. (2) Each such insurer shall, during the first six (6) months of each calendar year, hold the annual meeting of its members to fill vacancies existing or occurring in the board of directors, receive and consider reports of the insurer’s officers as to its affairs and transact such other business as may properly be brought before it. (3) Notice of the time and place of the annual meeting of members shall be given by imprinting such notice plainly on the policies issued by the insurer. Any change of the date or place of the annual meeting shall be made only by an annual meeting of members. Notice of such change may be given: (a) By imprinting such new date or place on all policies which will be in effect as of the date of such changed meeting; or (b) Unless the director otherwise orders, notice of the new date or place need be given only through policies issued after the date of the annual meeting at which such change was made and in premium notices and renewal certificates issued during the twenty-four (24) months immediately following such meeting. (4) If more than six (6) months are allowed to elapse after an annual meeting of members is due to be held and without such annual meeting being held, the director shall, upon written request of any officer, director, or member of the insurer, cause written notice of such meeting to be given to the insurer’s members, and the meeting shall be held as soon as reasonably possible thereafter. The director shall attend the meeting. (5) Subsections (2) and (3) above shall not apply as to a fraternal insurer, as defined in section 41-3101(2), which shall hold the annual meeting of its members and give notice thereof, at such reasonable time and place and in such reasonable manner as may be provided by the insurer’s by-laws with the director’s approval.  History: [41-2832, added 1961, ch. 330, sec. 600, p. 645.]
ID Code § 41-2833 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2833 - SPECIAL MEETINGS OF MEMBERS OF MUTUAL INSURER.

41-2833. SPECIAL MEETINGS OF MEMBERS OF MUTUAL INSURER. (1) A special meeting of the members of a mutual insurer may be held for any lawful purpose. The meeting shall be called by the corporate secretary pursuant to request of the insurer’s president or of its board of directors, or upon request in writing signed by not less than one-tenth (1/10) of the insurer’s members. The meeting shall be held at such time as the secretary may fix, but not less than ten (10) nor more than thirty (30) days after receipt of the request. If the secretary fails to issue such call, the president, directors, or members making the request may do so. (2) Not less than ten (10) days’ written notice of the meeting shall be given. Notice addressed to the insurer’s members at their respective post office addresses last of record with the insurer and deposited, postage prepaid, in a letter depository of the United States post office, shall be deemed to have been given when so mailed. In lieu of mailed notice the insurer may publish the notice in such publication or publications as shall afford a majority of its members a reasonable opportunity to have actual advance notice of the meeting. The notice shall state the purposes of the meeting, and no business shall be transacted at the meeting of which notice was not so given.  History: [41-2833, added 1961, ch. 330, sec. 601, p. 645.]
ID Code § 41-2834 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2834 - VOTING RIGHTS OF MUTUAL MEMBERS.

41-2834. VOTING RIGHTS OF MUTUAL MEMBERS. (1) Each member of a mutual insurer is entitled to one (1) vote upon each matter coming to a vote at meetings of members. (2) A member shall have the right to vote in person or by his written proxy filed with the corporate secretary not less than five (5) days prior to the meeting. No such proxy shall be made irrevocable, nor be valid beyond the earlier of the following dates: (a) The date of expiration set forth in the proxy; or (b) The date of termination of membership; or (c) Five (5) years from the date of execution of the proxy. (3) No member’s vote upon any proposal to divest the insurer of its business or assets, or the major part thereof, shall be registered or taken except in person or by proxy newly executed and specific as to the matter to be voted upon.  History: [41-2834, added 1961, ch. 330, sec. 602, p. 645.]
ID Code § 41-2836 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2836 - NOTICE OF CHANGE OF DIRECTORS OR OFFICERS.

41-2836. NOTICE OF CHANGE OF DIRECTORS OR OFFICERS. An insurer shall promptly give the director written notice of any change of personnel among its directors or principal officers.  History: [41-2836, added 1961, ch. 330, sec. 604, p. 645.]
ID Code § 41-2837 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2837 - PROHIBITED PECUNIARY INTEREST OF OFFICIALS.

41-2837. PROHIBITED PECUNIARY INTEREST OF OFFICIALS. (1) Any officer or director, or any member of any committee or an employee of a domestic insurer who is charged with the duty of investing or handling the insurer’s funds shall not deposit or invest such funds except in the insurer’s corporate name; shall not borrow the funds of such insurer; shall not be pecuniarily interested in any loan, pledge or deposit, security, investment, sale, purchase, exchange, reinsurance, or other similar transaction or property of such insurer except as a stockholder or member; shall not take or receive to his own use any fee, brokerage, commission, gift, or other consideration for or on account of any such transaction made by or on behalf of such insurer. (2) No insurer shall guarantee any financial obligation of any of its officers or directors. (3) This section shall not prohibit such a director or officer, or member of a committee or employee from becoming a policyholder of the insurer and enjoying the usual rights so provided for its policyholders, nor shall it prohibit any such officer, director or member of a committee or employee from participating as beneficiary in any pension trust, deferred compensation plan, profit sharing plan or stock option plan authorized by the insurer and to which he may be eligible, nor shall it prohibit any director or member of a committee from receiving a reasonable fee for lawful services actually rendered to such insurer. (4) The director may, by regulations from time to time, define and permit additional exceptions to the prohibition contained in subsection (1) of this section solely to enable payment of reasonable compensation to a director who is not otherwise an officer or employee of the insurer, or to a corporation or firm in which a director is interested, for necessary services performed or sales or purchases made to or for the insurer in the ordinary course of the insurer’s business and in the usual private professional or business capacity of such director or such corporation or firm.  History: [41-2837, added 1961, ch. 330, sec. 605, p. 645.]
ID Code § 41-2838 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2838 - MANAGEMENT AND EXCLUSIVE AGENCY CONTRACTS.

41-2838. MANAGEMENT AND EXCLUSIVE AGENCY CONTRACTS. (1) No domestic insurer shall hereafter make any contract whereby any person is granted or is to enjoy in fact the management of the insurer to the substantial exclusion of its board of directors or to have the controlling or preemptive right to produce substantially all insurance business for the insurer, or, if an officer, director or otherwise part of the insurer’s management, is to receive any commission, bonus or compensation based upon the volume of the insurer’s business or transactions, unless the contract is filed with and approved by the director. The contract shall be deemed approved unless disapproved by the director within twenty (20) days after date of filing, subject to such reasonable extension of time as the director may require by notice given within such twenty (20) days. Any disapproval shall be delivered to the insurer in writing, stating the grounds therefor. (2) Any such contract, or contract holder, shall provide that any such manager or producer of its business shall within ninety (90) days after expiration of each calendar year furnish the insurer’s board of directors a written statement of amounts received under or on account of the contract and amounts expended thereunder during such calendar year, including the emoluments received therefrom by the respective directors, officers, and other principal management personnel of the manager or producer, and with such classification of items and further detail as the insurer’s board of directors may reasonably require. (3) The director shall disapprove any such contract if he finds that it: (a) Subjects the insurer to unreasonable or excessive charges; or (b) Is to extend for an unreasonable length of time; or (c) Does not contain fair and adequate standards of performance; or (d) Contains other inequitable provision or provisions which impair the proper interests of stockholders or policyholders of the insurer. (4) The director may, after a hearing held thereon, withdraw his approval of any such contract theretofore approved by him, if he finds that the bases of his original approval no longer exist, or that the contract has, in actual operation, shown itself to be subject to disapproval on any of the grounds referred to in subsection (3) above. (5) This section does not apply as to contracts entered into prior to the effective date of this code, nor to extensions or amendments to such contracts.  History: [41-2838, added 1961, ch. 330, sec. 606, p. 645; am. 1969, ch. 214, sec. 67, p. 625.]
ID Code § 41-2840 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2840 - VOUCHERS FOR EXPENDITURES.

41-2840. VOUCHERS FOR EXPENDITURES. (1) No insurer shall make any disbursement of twenty-five dollars ($25) or more, unless evidenced by a voucher or other document correctly describing the consideration for the payment and supported by a check or receipt endorsed or signed by or on behalf of the person receiving the money. (2) If the disbursement is for services and reimbursement, the voucher or other document, or some other writing referred to therein, shall describe the services and itemize the expenditures. (3) If the disbursement is in connection with any matter pending before any legislature or public body or before any public official, the voucher or other document shall also correctly describe the nature of the matter and of the insurer’s interest therein.  History: [41-2840, added 1961, ch. 330, sec. 608, p. 645.]
ID Code § 41-2841 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2841 - BORROWED SURPLUS.

41-2841. BORROWED SURPLUS. (1) A domestic stock or mutual insurer may borrow money to defray the expenses of its organization, provide it with surplus funds, or for any purpose of its business, upon a written agreement that such money is required to be repaid only out of the insurer’s surplus in excess of that stipulated in such agreement. The agreement may provide for interest at such rate or rates approved by the director, which interest shall or shall not constitute a liability of the insurer as to its funds other than such excess or surplus, as stipulated in the agreement. A commission or promotion expense may be paid in connection with any such loan upon approval of the director. (2) Money so borrowed, together with the interest thereon if so stipulated in the agreement, shall not form a part of the insurer’s legal liabilities except as to its surplus in excess of the amount thereof stipulated in the agreement, or be the basis of any setoff, but until repaid, financial statements filed or published by the insurer shall show as a footnote thereto the amount thereof then unpaid together with any interest thereon accrued but unpaid. (3) Any such loan shall be subject to the director’s approval. The insurer shall, in advance of the loan, file with the director a statement of the purpose of the loan and a copy of the proposed loan agreement. The loan and agreement shall be deemed approved unless within fifteen (15) days after the date of such filing the insurer is notified of the director’s disapproval and the reasons therefor. The director shall disapprove any proposed loan or agreement if he finds the loan is unnecessary or excessive for the purpose intended, or that the terms of the loan agreement are not fair and equitable to the parties, and to other similar lenders, if any, to the insurer, or that the information so filed by the insurer is inadequate. (4) Any such loan to a mutual insurer or substantial portion thereof shall be repaid by the insurer when no longer reasonably necessary for the purpose originally intended. No repayment of such a loan shall be made by a mutual insurer unless approved in advance by the director. (5) This section shall not apply to loans obtained by the insurer in ordinary course of business from banks and other financial institutions, nor to loans secured by pledge or mortgage of assets.  History: [41-2841, added 1961, ch. 330, sec. 609, p. 645; am. 1973, ch. 11, sec. 1, p. 24; am. 1982, ch. 171, sec. 1, p. 451; am. 2006, ch. 25, sec. 1, p. 83.]
ID Code § 41-2842 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2842 - PARTICIPATING POLICIES.

41-2842. PARTICIPATING POLICIES. (1) As provided in its articles of incorporation, a domestic stock insurer or domestic mutual insurer may issue any or all of its policies with or without participation in profits, savings, unabsorbed portions of premiums, or surplus; may classify policies issued and risks insured on a participating and nonparticipating basis, and, subject to section 41-1933(3), Idaho Code, may determine the right to participate and the extent of participation of any class or classes of policies. Any such classification or determination shall be reasonable. (2) A life insurer may issue both participating and nonparticipating policies only if the right or absence of right to participate is reasonably related to the premium charged. (3) No dividend, otherwise earned, shall be made contingent upon the payment of renewal premium on any policy; except, that a participating life or disability insurance policy providing for participation at the end of the first or second policy year may provide that the dividend or dividends will be paid subject to payment of premium for the next ensuing year.  History: [41-2842, added 1961, ch. 330, sec. 610, p. 645; am. 1972, ch. 70, sec. 1, p. 145.]
ID Code § 41-2843 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS|Section 41-2843 - DIVIDENDS TO STOCKHOLDERS.

41-2843. DIVIDENDS TO STOCKHOLDERS. A domestic stock insurer shall not pay any dividend to stockholders except out of earned surplus. Prior to payment thereof, the director, in his discretion, may approve the payment of a dividend from other than earned surplus. For purposes of this section, "earned surplus" shall include surplus arising from unrealized capital gains or revaluation of assets.  History: [41-2843, added 1961, ch. 330, sec. 611, p. 645; am. 1993, ch. 194, sec. 14, p. 506.]