reglab/housing_qa huggingface dataset:
ID Code § 41-4935 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4935 - POLITICAL CONTRIBUTIONS PROHIBITED.

41-4935. POLITICAL CONTRIBUTIONS PROHIBITED. The administrator shall not make or knowingly permit the making, directly or indirectly, of any political contribution by or from the trust fund.  History: [(41-4935) 41-4938, added 1990, ch. 119, sec. 1, p. 286; am. & redesig. 2003, ch. 96, sec. 39, p. 305.]
ID Code § 41-4936 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4936 - RECOVERY OF DEPLETED FUNDS.

41-4936. RECOVERY OF DEPLETED FUNDS. If after notice and hearing, the director finds that the trust fund has been depleted by reason of any wrongful or negligent act or omission of the board or any other person, he shall transmit a copy of his findings to the attorney general of this state, who may bring an action in the name of the people of this state, or intervene in any action brought by or on behalf of an insured owner or operator for the recovery of the amount of such depletion, for the benefit of the trust fund.  History: [(41-4936) 41-4939, added 1990, ch. 119, sec. 1, p. 286; am. 1991, ch. 59, sec. 25, p. 134; am. & redesig. 2003, ch. 96, sec. 40, p. 305.]
ID Code § 41-4937 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4937 - IMPAIRED TRUST FUND.

41-4937. IMPAIRED TRUST FUND. (1) If the assets of the trust fund are at any time insufficient to discharge its liabilities, and to maintain the required surplus, the administrator shall forthwith request authority from the director to make up the deficiency by borrowed surplus or other subordinated indebtedness. (2) If the director finds that future estimated revenues from the transfer fees imposed under section 41-4909, Idaho Code, are not sufficient to justify any borrowed surplus funds or other subordinated indebtedness, then the director shall request the administrator to submit a plan of action whereby priority is given to the payment of cleanup costs of petroleum discharges that constitute a clear and present danger to persons or property, including discharges into underground or surface water that may seriously contaminate the water used for domestic and commercial use, agricultural products, livestock, fish, game and other wildlife. Consideration shall be given in this plan of action to establishing a claim payment priority based on the severity of the contamination, the possible endangerment of life and health including, but not limited to, possible toxic fumes, fire and explosion hazards, economic impact, population density, and the need for immediate cleanup action versus action that can be delayed with only minimal adverse effects. This plan of action shall also establish similar criteria for the prioritization of the payment of bodily injury and property damage claims. (3) Upon receiving this plan of action, the director shall promptly hold a public hearing with appropriate notice to determine any possible adverse effects of the plan of action on the owners or operators of insured tanks, the claimants and potential claimants, and the environment. After giving due consideration to the testimony of those parties affected by the proposed plan of action, the director shall either approve or disapprove the plan in writing, stating the reasons therefor, so that a plan of action that does meet with the director’s approval can be placed into effect with due diligence and dispatch. (4) Upon receiving the director’s approval of the plan of action, the administrator shall promptly commence the prioritization of claims and pay such valid and compensable claims according to this priority as funds become available from collection of the transfer fees.  History: [(41-4937) 41-4940, added 1990, ch. 119, sec. 1, p. 286; am. 1991, ch. 59, sec. 26, p. 134; am. & redesig. 2003, ch. 96, sec. 41, p. 305.]
ID Code § 41-4938 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4938 - LIQUIDATION OF TRUST FUND.

41-4938. LIQUIDATION OF TRUST FUND. (1) The annual tank application fees and transfer fees are perpetually appropriated as dedicated funds for the purposes of this chapter, and the trust fund shall remain in existence as long as the need exists for the trust fund to insure the costs of corrective actions and the need exists for the trust fund to insure the legal liability of petroleum tank owners and operators as provided in this chapter. (2) In the event other more appropriate means come into existence to provide the insurance provided by the trust fund, then the trust fund shall be liquidated according to the provisions of this section. (3) Liquidation shall be conducted by the board under a written plan of liquidation filed with and approved by the director. If the director finds the plan to be fair and equitable to all persons having a pecuniary interest in the trust fund, he shall approve it. Any balance remaining after payment or adequate provision for payment of all claims and charges against the trust fund has been made shall be disposed of in the manner provided for in the plan of liquidation. Unless under the plan of liquidation the liability for all unpaid claims and obligations of the trust fund has been assumed by another financially responsible person or persons, the existence of surplus funds for such disposition shall not be determined prior to the expiration of two (2) years after termination of the certificate of registration issued to the trust fund as provided in section 41-4930(2), Idaho Code. (4) After its approval by the director, the plan of liquidation for the trust fund shall be binding upon all persons pecuniarily interested in the trust fund. Pending the effectuation of the plan of liquidation the director may impose such prohibitions or restrictions upon disbursement or use of trust fund moneys as the director deems advisable for the protection of all interested persons. (5) If the trust fund is then insolvent and a plan of liquidation thereof satisfactory to the director as being fair and equitable is not filed within sixty (60) days after the effective date of termination of the plan’s registration, or if liquidation of a solvent trust fund is not being carried out in accordance with the plan of liquidation theretofore approved by the director, the director shall liquidate the trust fund under the applicable provisions of chapter 33, title 41, Idaho Code, and for this purpose the trust fund shall be deemed to be an insolvent domestic insurer. (6) If after all indebtedness and other obligations of the trust fund are discharged to the satisfaction of the director and the trust fund is dissolved, its remaining assets, if any, shall inure to the benefit of the state.  History: [(41-4938) 41-4941, added 1990, ch. 119, sec. 1, p. 287; am. 1991, ch. 59, sec. 27, p. 135; am. & redesig. 2003, ch. 96, sec. 42, p. 306.]
ID Code § 41-4939 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4939 - VOUCHERS FOR EXPENDITURES.

41-4939. VOUCHERS FOR EXPENDITURES. (1) The administrator of the trust fund shall not make any disbursement of twenty-five dollars ($25.00) 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 trust fund’s interest therein.  History: [(41-4939) 41-4942, added 1990, ch. 119, sec. 1, p. 288; am. & redesig. 2003, ch. 96, sec. 43, p. 307.]
ID Code § 41-4940 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4940 - BORROWED SURPLUS AND SUBORDINATED INDEBTEDNESS.

41-4940. BORROWED SURPLUS AND SUBORDINATED INDEBTEDNESS. (1) The trust fund 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 trust fund’s surplus in excess of the amount stipulated in such agreement. The agreement may provide for interest, 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. No commission or promotion expense shall be paid in connection with any such loan. (2) Money so borrowed, together with the interest thereon, if so stipulated in the agreement, shall not form a part of the fund’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 approval of the director. The trust fund 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 trust fund 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 trust fund, or that the information so filed by the trust fund is inadequate. (4) Any such loan to the trust fund or substantial portion thereof shall be repaid by the trust fund when no longer reasonably necessary for the purpose originally intended. No repayment of such a loan shall be made by the fund unless approved in advance by the director. (5) In the event of liquidation, repayment of the balance of the borrowed funds and any accrued interest then due and owing shall be paid only out of assets remaining after the payment of all obligations and claims of owners or operators of petroleum tanks insured by the trust fund and general creditors. (6) The provisions of this section shall not apply to loans obtained by the trust fund in ordinary course of business from banks and other financial institutions, nor to loans secured by pledge or mortgage of assets.  History: [(41-4940) 41-4943, added 1990, ch. 119, sec. 1, p. 288; am. 1991, ch. 59, sec. 28, p. 136; am. & redesig. 2003, ch. 96, sec. 44, p. 307.]
ID Code § 41-4941 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4941 - PENALTIES.

41-4941. PENALTIES. (1) Any person who willfully violates or causes or induces a violation of any provision of this chapter or any lawful rule of the director issued thereunder, shall be subject to penalty as provided in subsection (4) of this section. (2) Any person who makes a false statement or representation of a material fact, knowing it to be false, or who knowingly fails to disclose a material fact in any application, examination, or statement required under this act or by lawful rule of the director thereunder, shall be subject to penalty as provided in subsection (4) of this section. (3) Any person who makes a false entry in any book, record, statement, or report required in this chapter or lawful rule of the director thereunder to be kept by him, with intent to injure or defraud the trust fund or any member thereof, or to deceive anyone authorized or entitled to examine the affairs of the trust fund, shall be subject to penalty as provided in subsection (4) of this section. (4) For each such violation, act or omission referred to in this section, unless greater penalty is provided therefor under any other applicable law, the offender shall upon conviction thereof be subject to a fine of not more than one thousand dollars ($1,000) and to imprisonment for not more than one (1) year, or to both such fine and imprisonment.  History: [(41-4941) 41-4944, added 1990, ch. 119, sec. 1, p. 289; am. & redesig. 2003, ch. 96, sec. 45, p. 308.]
ID Code § 41-4942 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4942 - RULES — DIRECTOR — DEPARTMENT OF INSURANCE.

41-4942. RULES — DIRECTOR — DEPARTMENT OF INSURANCE. (1) The director may make reasonable rules necessary as an aid to the effectuation of any provision of this chapter. No such rule shall extend, modify or conflict with any provision of this chapter and the reasonable implications thereof. (2) Such rules, or any amendment thereof, shall be made by the director only after a public hearing thereon of which the director has given written notice not less than thirty (30) days in advance to the board of the trust fund then registered with him. If reasonably possible the director shall include with the notice a copy of the proposed rules or amendment, or a condensed summary of material proposed provisions. (3) All procedures and policies concerning the promulgation of such rules, or any amendment thereof, are subject to the provisions of chapter 52, title 67, Idaho Code, and the rules of practice and procedure of the department of insurance.  History: [(41-4942) 41-4945, added 1990, ch. 119, sec. 1, p. 289; am. & redesig. 2003, ch. 96, sec. 46, p. 309.]
ID Code § 41-4943 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4943 - APPLICATION OF CHAPTER.

41-4943. APPLICATION OF CHAPTER. All of the provisions of this chapter shall apply to and confer all rights, privileges, exemptions and immunities upon the trust fund established for the purposes contemplated in this chapter, and the administrator, insured owners or operators of petroleum tanks, beneficiaries, and participants thereof. The provisions of this chapter shall not apply to any railroad, railroad corporation, or any employee thereof when such employee is acting in the course of his employment for any such railroad or railroad corporation.  History: [(41-4943) 41-4946, added 1990, ch. 119, sec. 1, p. 289; am. 1991, ch. 59, sec. 29, p. 136; am. & redesig. 2003, ch. 96, sec. 47, p. 309.]
ID Code § 41-4944 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4944 - INSURANCE.

41-4944. INSURANCE. The coverage provided by the trust fund established pursuant to this chapter shall be deemed insurance for the purposes of any requirements of the Idaho department of environmental quality concerning the financial responsibility of owners or operators of petroleum storage tanks.  History: [(41-4944) 41-4947, added 1990, ch. 119, sec. 1, p. 290; am. 1991, ch. 59, sec. 30, p. 137; am. 2001, ch. 103, sec. 78, p. 318; am. & redesig. 2003, ch. 96, sec. 48, p. 309.]
ID Code § 41-4945 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4945 - PERSONAL LIABILITY.

41-4945. PERSONAL LIABILITY. The board and the administrator shall not, nor shall any person employed by them, be personally liable in a private capacity for or on account of any act performed or contract entered into in good faith and without the intent to defraud, in connection with the administration of the fund or affairs relating thereto.  History: [41-4945, added 2003, ch. 96, sec. 50, p. 309; am. 2004, ch. 175, sec. 3, p. 554.]
ID Code § 41-4946 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4946 - ACTIONS AGAINST THE FUND, THE BOARD, ITS EMPLOYEES, AND ADMINISTRATOR SUBJECT TO THE IDAHO TORT CLAIMS ACT.

41-4946. ACTIONS AGAINST THE FUND, THE BOARD, ITS EMPLOYEES, AND ADMINISTRATOR SUBJECT TO THE IDAHO TORT CLAIMS ACT. Any action against the fund, the board, its employees, and the administrator shall be subject in full to the Idaho tort claims act under chapter 9, title 6, Idaho Code.  History: [41-4946, added 2003, ch. 96, sec. 51, p. 310; am. 2004, ch. 175, sec. 4, p. 554.]
ID Code § 41-5101 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 51 - REINSURANCE INTERMEDIARY ACT|Section 41-5101 - SHORT TITLE.

41-5101. SHORT TITLE. This chapter may be cited as the "Reinsurance Intermediary Act."  History: [41-5101, added 1992, ch. 82, sec. 1, p. 249.]
ID Code § 41-5104 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 51 - REINSURANCE INTERMEDIARY ACT|Section 41-5104 - REQUIRED CONTRACT PROVISIONS — REINSURANCE INTERMEDIARY — BROKERS.

41-5104. REQUIRED CONTRACT PROVISIONS — REINSURANCE INTERMEDIARY — BROKERS. Transactions between a RB and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, provide that: (1) The insurer may terminate the RB’s authority at any time. (2) The RB will render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges and other fees received by, or owing, to the RB, and remit all funds due to the insurer within thirty (30) days of receipt. (3) All funds collected for the insurer’s account will be held by the RB in a fiduciary capacity in a bank which is a qualified United States financial institution as defined herein. (4) The RB will comply with the provisions of section 41-5105, Idaho Code. (5) The RB will comply with the written standards established by the insurer for the cession or retrocession of all risks. (6) The RB will disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.  History: [41-5104, added 1992, ch. 82, sec. 1, p. 251.]
ID Code § 41-5105 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 51 - REINSURANCE INTERMEDIARY ACT|Section 41-5105 - BOOKS AND RECORDS — REINSURANCE INTERMEDIARY BROKERS.

41-5105. BOOKS AND RECORDS — REINSURANCE INTERMEDIARY BROKERS. (1) For at least ten (10) years after expiration of each contract of reinsurance transacted by the RB, the RB will keep a complete record for each transaction showing: (a) The type of contract, limits, underwriting restrictions, classes or risks and territory; (b) Period of coverage, including effective and expiration dates, cancellation provisions and notice required of cancellation; (c) Reporting and settlement requirements of balances; (d) Rate used to compute the reinsurance premium; (e) Names and addresses of assuming reinsurers; (f) Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the RB; (g) Related correspondence and memoranda; (h) Proof of placement; (i) Details regarding retrocessions handled by the RB including the identity of retrocessionaires and percentage of each contract assumed or ceded; (j) Financial records including, but not limited to, premium and loss accounts; and (k) When the RB procures a reinsurance contract on behalf of a licensed ceding insurer: (i) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or (ii) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that such reinsurer has delegated binding authority to the representative. (2) The insurer will have access and the right to copy and audit all accounts and records maintained by the RB related to its business in a form usable by the insurer.  History: [41-5105, added 1992, ch. 82, sec. 1, p. 252.]
ID Code § 41-5106 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 51 - REINSURANCE INTERMEDIARY ACT|Section 41-5106 - DUTIES OF INSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY — BROKER.

41-5106. DUTIES OF INSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY — BROKER. (1) An insurer shall not engage the services of any person, firm, association or corporation to act as a RB on its behalf unless such person is licensed as required in section 41-5103(1), Idaho Code. (2) An insurer may not employ an individual who is employed by a RB with which it transacts business, unless such RB is under common control with the insurer and subject to the provisions of chapter 38, title 41, Idaho Code. (3) The insurer shall annually obtain a copy of the statement of the financial condition of each RB with which it transacts business.  History: [41-5106, added 1992, ch. 82, sec. 1, p. 252.]
ID Code § 41-5108 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 51 - REINSURANCE INTERMEDIARY ACT|Section 41-5108 - PROHIBITED ACTS.

41-5108. PROHIBITED ACTS. The RM shall not: (1) Cede retrocessions on behalf of the reinsurer, except that the RM may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for such retrocessions. Such guidelines shall include a list of reinsurers with which such automatic agreements are in effect, and for each such reinsurer, the coverages and amounts or percentages that may be reinsured, and commission schedules. (2) Commit the reinsurer to participate in reinsurance syndicates. (3) Appoint any producer without assuring that the producer is lawfully licensed to transact the type of reinsurance for which he is appointed. (4) Without prior approval of the reinsurer, pay or commit the reinsurer to pay a claim, net of retrocessions, that exceeds the lesser of an amount specified by the reinsurer or one per cent (1%) of the reinsurer’s policyholder surplus as of December 31 of the last complete calendar year. (5) Collect any payment from a retrocessionaire or commit the reinsurer to any claim settlement with a retrocessionaire, without prior approval of the reinsurer. If prior approval is given, a report must be promptly forwarded to the reinsurer. (6) Jointly employ an individual who is employed by the reinsurer unless such RM is under common control with the reinsurer subject to chapter 38, title 41, Idaho Code. (7) Appoint a sub-RM.  History: [41-5108, added 1992, ch. 82, sec. 1, p. 254.]
ID Code § 41-5109 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 51 - REINSURANCE INTERMEDIARY ACT|Section 41-5109 - DUTIES OF REINSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY — MANAGER.

41-5109. DUTIES OF REINSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY — MANAGER. (1) A reinsurer shall not engage the services of any person, firm, association or corporation to act as a RM on its behalf unless such person is licensed as required in section 41-5103(2), Idaho Code. (2) The reinsurer shall annually obtain a copy of the statement(s) of the financial condition of each RM which such reinsurer has engaged, prepared by an independent certified accountant in a form acceptable to the director. (3) If a RM establishes loss reserves, the reinsurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the RM. This opinion shall be in addition to any other required loss reserve certification. (4) Binding authority for all retrocessional contracts or participation in reinsurance syndicates shall rest with an officer of the reinsurer who shall not be affiliated with the RM. (5) Within thirty (30) days of termination of a contract with a RM, the reinsurer shall provide written notification of such termination to the director. (6) A reinsurer shall not appoint to its board of directors, any officer, director, employee, controlling shareholder or subproducer of its RM. The provisions of this subsection shall not apply to relationships governed by chapter 38, title 41, Idaho Code, or if applicable, chapter 17, title 41, Idaho Code.  History: [41-5109, added 1992, ch. 82, sec. 1, p. 255; am. 1993, ch. 194, sec. 35, p. 530.]