reglab/housing_qa huggingface dataset:
ID Code § 41-3616 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 36 - INSURANCE GUARANTY ASSOCIATION|Section 41-3616 - CREDITS FOR ASSESSMENTS PAID.

41-3616. CREDITS FOR ASSESSMENTS PAID. (1) A member insurer may offset against its premium tax liability to this state under section 41-402, Idaho Code, an assessment described in subsection (1)(d) of section 41-3608, Idaho Code. An offset is allowable to the extent of twenty percent (20%) of the amount of such assessment for each of five (5) calendar years beginning with the premium tax due under section 41-402(4), Idaho Code, with respect to the year of payment of the assessment and thereafter with the premium tax due under section 41-402(4), Idaho Code, during each of the four (4) succeeding years. An allowable offset, or portion thereof, not used in any calendar year cannot be carried over or back to any other year. An insurer that is exempt from the premium tax imposed by section 41-402, Idaho Code, may offset against its premium tax liability to the industrial administration fund in the same manner as an offset to the premium tax imposed by section 41-402(4). (2) Notwithstanding any provision to the contrary in section 41-3608(2)(f), Idaho Code, any sums acquired by refund from insurance company receiverships by the association which have heretofore been written off by contributing insurers and offset against premium taxes as provided in subsection (1) of this section, and which, in the opinion of the board of directors, will not be needed for the purposes of this chapter within two (2) years from the date the association receives the refund from the receivership, shall be paid by the association to the director and by him deposited with the state treasurer for credit to the state general fund.  History: [41-3616, added 1970, ch. 152, sec. 16, p. 462; am. 2004, ch. 241, sec. 1, p. 704; am. 2005, ch. 268, sec. 2, p. 831; am. 2013, ch. 265, sec. 1, p. 650.]
ID Code § 41-3617 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 36 - INSURANCE GUARANTY ASSOCIATION|Section 41-3617 - NO LIABILITY FOR ACTIONS TAKEN PURSUANT TO ACT.

41-3617. NO LIABILITY FOR ACTIONS TAKEN PURSUANT TO ACT. There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer, the association or its agents or employees, the board of directors, or any person serving as a representative of any board director, or the director or his representatives for any action taken or any failure to act by them in the performance of their powers and duties under this act.  History: [41-3617, added 1970, ch. 152, sec. 17, p. 462; am. 1997, ch. 109, sec. 12, p. 265.]
ID Code § 41-3618 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 36 - INSURANCE GUARANTY ASSOCIATION|Section 41-3618 - STAY OF COURT PROCEEDINGS FOR INSOLVENCY — SETTING ASIDE JUDGMENT AGAINST INSOLVENT INSURER.

41-3618. STAY OF COURT PROCEEDINGS FOR INSOLVENCY — SETTING ASIDE JUDGMENT AGAINST INSOLVENT INSURER. All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this state shall, subject to written waiver by the association in specific cases involving covered claims, be stayed until the last day fixed by the court for the filing of claims and such additional time thereafter as may be determined by the court from the date the insolvency is determined or an ancillary proceeding is instituted in the state, whichever is later, to permit proper defense by the association of all pending causes of action. As to any covered claims arising from a judgment under any decision, verdict or findings based on the default of the insolvent insurer or its failure to defend an insured, the association either on its own behalf or on behalf of such insured may apply to have such judgment, order, decision, verdict or finding set aside by the same court or administrator that made such judgment, order, decision, verdict or finding and shall be permitted to defend against such claim on the merits. The liquidator, receiver, or statutory successor of an insolvent insurer covered by this act shall permit access by the board or its authorized representative to such of the insolvent insurer’s records which are necessary for the board in carrying out its functions under this act with regard to covered claims. In addition, the liquidator, receiver, or statutory successor shall provide the board or its representative with copies of such records upon the request by the board and at the expense of the board.  History: [41-3618, added 1970, ch. 152, sec. 18, p. 462; am. 1981, ch. 54, sec. 2, p. 84; am. 1997, ch. 109, sec. 13, p. 265.]
ID Code § 41-3619 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 36 - INSURANCE GUARANTY ASSOCIATION|Section 41-3619 - PROTECTION OF ACT NOT USED TO SELL INSURANCE.

41-3619. PROTECTION OF ACT NOT USED TO SELL INSURANCE. It is an unfair trade practice for any insurer or agent to in any manner make use of the protection given policyholders by this chapter as a reason for buying insurance from him.  History: [41-3619, added 1970, ch. 152, sec. 19, p. 462.]
ID Code § 41-3620 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 36 - INSURANCE GUARANTY ASSOCIATION|Section 41-3620 - TERMINATION OF OPERATION OF ASSOCIATION AS TO INSURANCE COVERED BY OTHER PLAN — DISSOLUTION OF ASSOCIATION AND DISTRIBUTION OF ASSETS — EXPIRATION OF ACT.

41-3620. TERMINATION OF OPERATION OF ASSOCIATION AS TO INSURANCE COVERED BY OTHER PLAN — DISSOLUTION OF ASSOCIATION AND DISTRIBUTION OF ASSETS — EXPIRATION OF ACT. (1) The director shall by order terminate the operation of the Idaho insurance guaranty association as to any kind of insurance covered by this act with respect to which he has found, after hearing, that there is in effect a statutory or voluntary plan which: (a) Is a permanent plan which is adequately funded or for which adequate funding is provided. (b) Extends, or will extend to the Idaho policyholders and residents protection and benefits with respect to insolvent insurers not substantially less favorable and effective to such policyholders and residents than the protection and benefits provided with respect to such kinds of insurance under this act. (2) The director shall by the same such order authorize discontinuance of future payments by insurers to the Idaho insurance guaranty association with respect to the same kinds of insurance; provided, the assessments and payments shall continue, as necessary, to liquidate covered claims of insurers adjudged insolvent prior to said order and the related expenses not covered by such other plan. (3) In the event the operation of the Idaho insurance guaranty association shall be so terminated as to all kinds of insurance otherwise within its scope, the association as soon as possible thereafter shall distribute the balance of moneys and assets remaining (after discharge of the functions of the association with respect to prior insurer insolvencies not covered by such other plan, together with related expenses) to the insurers which are then writing in this state policies of the kinds of insurance covered by this act and which had made payments to the association, pro rata upon the basis of the aggregate of such payments made by the respective insurers during the period of five (5) years next preceding the date of such order. Upon completion of such distribution with respect to all of the kinds of insurance covered by this act, this act shall be deemed to have expired.  History: [41-3620, added 1970, ch. 152, sec. 20, p. 462.]
ID Code § 41-3621 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 36 - INSURANCE GUARANTY ASSOCIATION|Section 41-3621 - COOPERATION OF LIQUIDATOR, RECEIVER, OR STATUTORY SUCCESSOR OF AN INSOLVENT INSURER.

41-3621. COOPERATION OF LIQUIDATOR, RECEIVER, OR STATUTORY SUCCESSOR OF AN INSOLVENT INSURER. The liquidator, receiver, or statutory successor of an insolvent insurer covered by this act shall permit access by the board of directors or its authorized representative to such of the insolvent insurer’s records which are necessary for the board in carrying out its functions under this act with regard to covered claims. In addition, the liquidator, receiver, or statutory successor shall provide the board of directors or its authorized representative with copies of such records upon the request by the board of directors and at the expense of the board of directors.  History: [41-3621, added 1981, ch. 54, sec. 3, p. 84.]
ID Code § 41-3801 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 38 - ACQUISITIONS OF CONTROL AND INSURANCE HOLDING COMPANY SYSTEMS|Section 41-3801 - PURPOSE.

41-3801. PURPOSE. The purpose of this chapter is to prevent acquisition or divestiture of control of an insurer or a holding company system of which an insurer is a part where such acquisition would be adverse to the public interest and the interests of policyholders and shareholders. A further purpose of this chapter is to promote the public interest and the interests of policyholders and shareholders by facilitating, consistent with those interests, better use of management skills and services, diversification through acquisitions, free access to capital markets, sound tax planning and open competition. An additional purpose is to monitor and regulate insurance holding company systems.  History: [41-3801, added 2013, ch. 266, sec. 2, p. 652.]
ID Code § 41-3805 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 38 - ACQUISITIONS OF CONTROL AND INSURANCE HOLDING COMPANY SYSTEMS|Section 41-3805 - TENDER OFFER MATERIAL.

41-3805. TENDER OFFER MATERIAL. All requests or invitations for tenders or advertisements making a tender offer or requesting or inviting tenders of such voting securities for control of a domestic insurer made by or on behalf of any person shall contain the information specified in section 41-3804, Idaho Code, as the director may prescribe and shall be filed with the director at least ten (10) days prior to the time such material is first published or sent or provided to security holders. Copies of any additional material soliciting or requesting such tender offers subsequent to the initial solicitation or request shall contain information as the director may prescribe as necessary or appropriate in the public interest or for the protection of policyholders and stockholders and shall be filed with the director at least ten (10) days prior to the time copies of the material are first published or sent or provided to security holders.  History: [41-3805, added 2013, ch. 266, sec. 2, p. 657.]
ID Code § 41-3807 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 38 - ACQUISITIONS OF CONTROL AND INSURANCE HOLDING COMPANY SYSTEMS|Section 41-3807 - MAILING — PAYMENT OF EXPENSES.

41-3807. MAILING — PAYMENT OF EXPENSES. (1) All notices of public hearings held pursuant to section 41-3806, Idaho Code, shall be mailed by the insurer to its shareholders within five (5) business days after the insurer has received such notices. The expenses of such mailing shall be borne by the person making the filing. As security for the payment of such expenses, such person shall file with the director a bond or other deposit deemed acceptable and in an amount determined by the director. (2) The provisions of this section shall not apply to any offers, requests, invitations, agreements or acquisitions by the person referred to in section 41-3804, Idaho Code, of any voting security referred to in section 41-3804, Idaho Code, which, immediately prior to the consummation of such offer, request, invitation, agreement or acquisition, was not issued and outstanding.  History: [41-3807, added 2013, ch. 266, sec. 2, p. 659.]
ID Code § 41-3811 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 38 - ACQUISITIONS OF CONTROL AND INSURANCE HOLDING COMPANY SYSTEMS|Section 41-3811 - ADEQUACY OF SURPLUS.

41-3811. ADEQUACY OF SURPLUS. For purposes of this chapter, in determining whether an insurer’s surplus regarding policyholders is reasonable in relation to the insurer’s outstanding liabilities and adequate to meet its financial needs, the following factors, among others, shall be considered: (1) The size of the insurer as measured by its assets, capital and surplus, reserves, premium writings, insurance in force and other appropriate criteria; (2) The extent to which the insurer’s business is diversified among several lines of insurance; (3) The number and size of risks insured in each line of business; (4) The extent of the geographical dispersion of the insurer’s insured risks; (5) The nature and extent of the insurer’s reinsurance program; (6) The quality, diversification and liquidity of the insurer’s investment portfolio; (7) The recent past and projected future trend in the size of the insurer’s investment portfolio; (8) The surplus regarding policyholders maintained by other comparable insurers; (9) The adequacy of the insurer’s reserves; (10) The quality and liquidity of investments in affiliates; the director may treat any investment in an affiliate as a disallowed asset for purposes of determining the adequacy of surplus regarding policyholders whenever in the judgment of the director the investment so warrants; and (11) The quality of the insurer’s earnings and the extent to which the reported earnings include extraordinary items.  History: [41-3811, added 2013, ch. 266, sec. 2, p. 668.]
ID Code § 41-3812 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 38 - ACQUISITIONS OF CONTROL AND INSURANCE HOLDING COMPANY SYSTEMS|Section 41-3812 - DIVIDENDS AND OTHER DISTRIBUTIONS.

41-3812. DIVIDENDS AND OTHER DISTRIBUTIONS. (1) No domestic insurer shall pay any extraordinary dividend or make any other extraordinary distribution to its shareholders until thirty (30) days after the director has received notice of the declaration thereof and has not within that period disapproved the payment, or until the director has approved the payment within the thirty (30) day period. For purposes of this section, an extraordinary dividend or distribution includes any dividend or distribution of cash or other property, whose fair market value together with that of other dividends or distributions made within the preceding twelve (12) months exceeds the greater of: (a) Ten percent (10%) of the insurer’s surplus regarding policyholders as of December 31 of the year immediately preceding; or (b) The net gain from operations of the insurer, if the insurer is a life insurer, or the net income, if the insurer is not a life insurer, not including net realized capital gains or losses, for the twelve (12) month period ending December 31 of the year immediately preceding, but shall not include pro rata distributions of any class of the insurer’s own securities. Notwithstanding any other provision of law, an insurer may declare an extraordinary dividend or distribution that is conditional upon the director’s approval, and the declaration shall confer no rights upon shareholders until the director has approved the payment of the dividend or distribution or until the director has not disapproved payment within the thirty (30) day period referred to in this subsection. (2) Except as provided in this subsection, a domestic insurer shall not make any dividends except from earned surplus. A domestic insurer may declare and distribute a dividend from other than earned surplus if: (a) The director has given approval for the dividend prior to payment; and (b) Following payment of the dividend, the insurer’s surplus regarding policyholders is: (i) Reasonable in relation to its outstanding liabilities; and (ii) Adequate to meet its financial needs. (3) For purposes of subsection (2) of this section, "earned surplus" means unassigned funds as required to be reported on the insurer’s annual statement. (4) A domestic insurer that is a member of a holding company system shall notify the director in writing of any nonextraordinary dividends to be paid or other distributions to be made to shareholders within five (5) business days following the declaration of the dividend or distribution, and shall notify the director in writing at least ten (10) days, commencing from the date of receipt by the director, prior to the payment of any dividends or the making of any other distribution.  History: [41-3812, added 2013, ch. 266, sec. 2, p. 668; am. 2017, ch. 95, sec. 1, p. 244; am. 2018, ch. 89, sec. 1, p. 194.]
ID Code § 41-3815 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 38 - ACQUISITIONS OF CONTROL AND INSURANCE HOLDING COMPANY SYSTEMS|Section 41-3815 - SUPERVISORY COLLEGES.

41-3815. SUPERVISORY COLLEGES. (1) With respect to any insurer registered under section 41-3809, Idaho Code, and in accordance with subsection (3) of this section, the director is authorized to participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations in order to determine compliance by the insurer with this chapter. The powers of the director with respect to supervisory colleges include, but are not limited to, the following: (a) Initiating the establishment of a supervisory college; (b) Clarifying the membership and participation of other supervisors in the supervisory college; (c) Clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a group-wide supervisor; (d) Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities and processes for information sharing; and (e) Establishing a crisis management plan. (2) Each registered insurer subject to this section shall be liable for and shall pay the reasonable expenses of the director’s participation in a supervisory college in accordance with subsection (3) of this section, including reasonable travel expenses. For purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the insurer or its affiliates and the director may establish a regular assessment to the insurer for the payment of these expenses. (3) In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management and governance processes, and as part of the examination of individual insurers in accordance with section 41-3813, Idaho Code, the director may participate in a supervisory college with other regulators charged with supervision of the insurer or its affiliates, including other state, federal and international regulatory agencies. The director may enter into agreements in accordance with section 41-3816(3), Idaho Code, providing the basis for cooperation among the director and the other regulatory agencies, and the activities of the supervisory college. Nothing in this section shall delegate to the supervisory college the authority of the director to regulate or supervise the insurer or its affiliates within its jurisdiction.  History: [41-3815, added 2013, ch. 266, sec. 2, p. 670.]
ID Code § 41-3817 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 38 - ACQUISITIONS OF CONTROL AND INSURANCE HOLDING COMPANY SYSTEMS|Section 41-3817 - RULES.

41-3817. RULES. The director may promulgate rules and issue orders as shall be necessary to carry out the provisions of this chapter.  History: [41-3817, added 2013, ch. 266, sec. 2, p. 673.]
ID Code § 41-3820 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 38 - ACQUISITIONS OF CONTROL AND INSURANCE HOLDING COMPANY SYSTEMS|Section 41-3820 - RECEIVERSHIP.

41-3820. RECEIVERSHIP. Whenever it appears to the director that any person has committed a violation of the provisions of this chapter that so impairs the financial condition of a domestic insurer as to threaten insolvency or make its further transaction of business hazardous to its policyholders, creditors, shareholders or the public, the director may proceed as provided in chapter 33, title 41, Idaho Code, to take possession of the property of the domestic insurer and to conduct its business in the capacity of a receiver.  History: [41-3820, added 2013, ch. 266, sec. 2, p. 674.]
ID Code § 41-3821 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 38 - ACQUISITIONS OF CONTROL AND INSURANCE HOLDING COMPANY SYSTEMS|Section 41-3821 - RECOVERY.

41-3821. RECOVERY. (1) If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order shall be authorized to recover on behalf of the insurer: (a) From any parent corporation or holding company or person or affiliate who otherwise controlled the insurer, the amount of distributions, other than distributions of shares of the same class of stock, paid by the insurer on its capital stock; or (b) Any payment in the form of a bonus, termination settlement or extraordinary lump sum salary adjustment made by the insurer or its subsidiary to a director, officer or employee, where the distribution or payment pursuant to this subsection is made at any time during the one (1) year period preceding the petition for liquidation, conservation or rehabilitation, as the case may be, subject to the limitations of subsections (2), (3) and (4) of this section. (2) No distribution shall be recoverable if the parent or affiliate of such domestic insurer shows that when paid the distribution was lawful and reasonable, and that the insurer did not know and could not reasonably have known that the distribution might adversely affect the ability of the insurer to fulfill its contractual obligations. (3) Any person who was a parent corporation or holding company or a person who otherwise controlled the insurer or affiliate at the time the distributions were paid shall be liable up to the amount of distributions or payments under subsection (1) of this section, that the person received. Any person who otherwise controlled the insurer at the time the distributions were declared shall be liable up to the amount of distributions that would have been received if they had been paid immediately. If two (2) or more persons are liable with respect to the same distributions, they shall be jointly and severally liable. (4) The maximum amount recoverable pursuant to this section shall be the amount needed in excess of all other available assets of the impaired or insolvent insurer to pay the contractual obligations of the impaired or insolvent insurer and to reimburse any guaranty funds. (5) To the extent that any person liable under subsection (3) of this section is insolvent or otherwise fails to pay claims due pursuant to subsection (3) of this section, its parent corporation or holding company or person who otherwise controlled it at the time the distribution was paid shall be jointly and severally liable for any resulting deficiency in the amount recovered from the parent corporation or holding company or person who otherwise controlled it.  History: [41-3821, added 2013, ch. 266, sec. 2, p. 675.]
ID Code § 41-3822 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 38 - ACQUISITIONS OF CONTROL AND INSURANCE HOLDING COMPANY SYSTEMS|Section 41-3822 - REVOCATION, SUSPENSION OR NONRENEWAL OF INSURER’S LICENSE.

41-3822. REVOCATION, SUSPENSION OR NONRENEWAL OF INSURER’S LICENSE. Whenever it appears to the director that any person has committed a violation of the provisions of this chapter that makes the continued operation of an insurer contrary to the interests of policyholders or the public, the director may, after giving notice and the opportunity for a hearing, suspend, revoke or refuse to renew the insurer’s license or certificate of authority to do business in this state for such period as the director finds is required for the protection of policyholders or the public. Any such determination shall be accompanied by specific findings of fact and conclusions of law.  History: [41-3822, added 2013, ch. 266, sec. 2, p. 675.]