reglab/housing_qa huggingface dataset:
ID Code § 41-4918 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4918 - CANCELLATION OF INSURANCE.

41-4918. CANCELLATION OF INSURANCE. Any insured owner or operator of a storage tank may cancel his insurance by returning his insurance contract to the administrator for cancellation. There shall be no refund of any application fees paid to the trust fund as all such fees shall be deemed fully earned when an insurance contract is issued or renewed.  History: [(41-4918) 41-4917, added 1990, ch. 119, sec. 1, p. 278; am. 1991, ch. 59, sec. 13, p. 129; am. & redesig. 2003, ch. 96, sec. 20, p. 298.]
ID Code § 41-4919 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4919 - REINSURANCE.

41-4919. REINSURANCE. (1) The administrator of the trust fund may reinsure any risk, or any part thereof, and may enter into agreements of reinsurance in the same way and to the same extent as other insurance carriers, the cost of which shall be paid out of the trust fund balance. (2) Such reinsurance contracts may be on a specific excess basis for each liability loss sustained, or on a quota share basis of each liability loss sustained, or on a treaty basis wherein a line of credit is available to pay losses in excess of a given amount with the money obtained from such a loan arrangement to be paid back only from expendable surplus funds, or on a facultative basis with one (1) or more reinsurers whereby successive portions of the loss are paid on a given share basis, and/or on a net annual aggregate stop loss basis whereby the reinsurer must contribute to all losses when such losses exceed a given amount in any policy year, or any other reinsurance agreement found to be necessary, prudent and reasonable by competent actuaries.  History: [(41-4919) 41-4918, added 1990, ch. 119, sec. 1, p. 278; am. & redesig. 2003, ch. 96, sec. 21, p. 298.]
ID Code § 41-4920 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4920 - PAYMENTS FROM THE TRUST FUND BY STATE TREASURER.

41-4920. PAYMENTS FROM THE TRUST FUND BY STATE TREASURER. The administrator of the trust fund shall submit each month to the state board of examiners an estimate of the amount necessary to meet the current disbursements for liability insurance losses to be paid in behalf of insured owners or operators of the trust fund during each succeeding calendar month, and when such estimate shall be approved by the state board of examiners, the state treasurer is authorized to pay the same out of the fund upon sight drafts drawn by the administrator. At the end of each calendar month the administrator shall account to the state board of examiners and the board for all money so received, furnishing proper vouchers therefor.  History: [(41-4920) 41-4919, added 1990, ch. 119, sec. 1, p. 279; am. 1991, ch. 59, sec. 14, p. 129; am. & redesig. 2003, ch. 96, sec. 22, p. 298.]
ID Code § 41-4921 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4921 - RESERVE FUNDS.

41-4921. RESERVE FUNDS. The Idaho petroleum clean water trust fund shall establish and maintain the following reserves or financial resources, which shall constitute liabilities in any determination of the financial condition of the trust fund: (1) An amount sufficient for the payment of all claims made against the trust fund, which shall include reasonable estimates for claim adjustment expense, legal fees and other claim settlement costs, and including claims reported and not yet paid and claims incurred but not reported to the trust fund but only to the extent that a reasonable estimate can be made based on prior statistical evidence and the condition of storage tanks insured by the trust fund. (2) An amount adequate under reasonable estimates for the payment of any unpaid contractual obligations, taxes and any other services and expenses incurred but not paid.  History: [(41-4921) 41-4920, added 1990, ch. 119, sec. 1, p. 279; am. & redesig. 2003, ch. 96, sec. 23, p. 299.]
ID Code § 41-4922 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4922 - PLAN OF OPERATION.

41-4922. PLAN OF OPERATION. The administrator shall establish a plan of operation to be approved by the director of the department of insurance for the state of Idaho.  History: [(41-4922) 41-4921, added 1990, ch. 119, sec. 1, p. 279; am. 1991, ch. 59, sec. 15, p. 129; am. & redesig. 2003, ch. 96, sec. 24, p. 299.]
ID Code § 41-4923 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4923 - REGISTRATION OF THE TRUST FUND.

41-4923. REGISTRATION OF THE TRUST FUND. The trust fund established pursuant to the provisions of this chapter shall be registered with the director as set out in this chapter.  History: [(41-4923) 41-4922, added 1990, ch. 119, sec. 1, p. 279; am. & redesig. 2003, ch. 96, sec. 25, p. 299.]
ID Code § 41-4924 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4924 - QUALIFICATIONS FOR REGISTRATION.

41-4924. QUALIFICATIONS FOR REGISTRATION. The director shall not register the trust fund if it is not qualified therefor. To be qualified, the trust fund: (1) Shall require all application fees to be paid in advance and to be deposited in and disbursed from the trust fund duly created under this chapter. (2) Shall have, or provide for, a trustworthy and responsible administrator for competent administration of the trust fund and plan. (3) Shall provide that the administrator furnish to each insured owner or operator a contract of insurance adequately and clearly stating all rights and obligations of the insured owner or operator, together with all applicable restrictions, limitations and exclusions, and the procedure for filing a claim. (4) Shall be actuarially sound; that is, assets, income and other financial resources of the trust fund must be adequate under reasonable estimates for payment of all claims, claims adjustment expenses, taxes, expenses and other obligations. (5) Shall otherwise be in compliance with the provisions of this chapter.  History: [(41-4924) 41-4923, added 1990, ch. 119, sec. 1, p. 279; am. 1991, ch. 59, sec. 16, p. 129; am. & redesig. 2003, ch. 96, sec. 26, p. 299.]
ID Code § 41-4925 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4925 - APPLICATION FOR REGISTRATION — FEE.

41-4925. APPLICATION FOR REGISTRATION — FEE. (1) Application for registration of the trust fund shall be made to the director, on forms furnished and designed by him for the purpose of eliciting information as to whether the trust fund is qualified for registration. The application shall be signed and verified by the board. (2) The application shall be accompanied by: (a) A copy of the bylaws of the trust fund referred to in section 41-4927, Idaho Code; (b) A copy of the proposed contract of insurance; (c) A written plan of operation that outlines the reasonably projected income and disbursements of the trust fund for the twelve (12) month period commencing with date of application and showing also the amount reserved and financial resources available as of the end of such period for claims incurred and not paid or incurred and not reported; (d) A current certified audited financial statement; (e) Such other relevant documentation and information as the director may reasonably require. (3) A nonrefundable filing fee of twenty-five dollars ($25.00) shall be paid to the director at the time the application is filed.  History: [(41-4925) 41-4924, added 1990, ch. 119, sec. 1, p. 280; am. 1991, ch. 59, sec. 17, p. 130; am. & redesig. 2003, ch. 96, sec. 27, p. 300.]
ID Code § 41-4925A (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4925A - AMENDMENTS TO PLAN OF OPERATION.

41-4925A. AMENDMENTS TO PLAN OF OPERATION. (1) Any amendment to the plan of operation prepared by the administrator for the purpose of deferring the issuance of contracts of insurance to any category of petroleum storage tank owners or operators or for issuing contracts of insurance to any deferred category of petroleum storage tank owners or operators shall be submitted to the director of the department of insurance. (2) The director shall review the amendment and shall, with all reasonable promptness, approve, approve as modified, or disapprove of the amendment to the plan of operation. If the amendment is approved, the administrator may issue contracts of insurance and otherwise operate the trust fund in a manner consistent with the amended plan of operation. If the amendment is disapproved, the administrator must operate the trust fund in a manner consistent with the provisions of the plan of operation as submitted to the director in the trust fund’s application for registration under section 41-4925, Idaho Code. (3) The director may request such relevant documentation and information, including an actuarial analysis of the underwriting capacity of the trust fund, as is reasonably necessary to evaluate the proposed amendment to the plan of operation. (4) All procedures and policies concerning the approval, modification or disapproval of any amendment to the plan of operation are subject to the provisions of chapter 52, title 67, Idaho Code, as well as the rules of practice and procedure of the department of insurance.  History: [(41-4925A) 41-4924A, added 1991, ch. 59, sec. 18, p. 130; am. & redesig. 2003, ch. 96, sec. 28, p. 300.]
ID Code § 41-4926 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4926 - GRANT OR DENIAL OF REGISTRATION.

41-4926. GRANT OR DENIAL OF REGISTRATION. (1) The director shall act upon an application for registration of the trust fund with all reasonable promptness. He may make such investigation of the proposal as he deems advisable. If the director finds that the application is complete and that the plan meets the qualifications stated in section 41-4924, Idaho Code, he shall issue and deliver a certificate of registration in appropriate form to the applicant; otherwise, the director shall refuse to register the plan and shall give written notice of such refusal to the applicant, stating the reasons therefor. (2) All procedures and policies concerning the grant or denial of registration of the trust fund are subject to the provisions of chapter 52, title 67, Idaho Code, as well as the rules of practice and procedure of the department of insurance.  History: [(41-4926) 41-4925, added 1990, ch. 119, sec. 1, p. 280; am. 1991, ch. 59, sec. 19, p. 131; am. & redesig. 2003, ch. 96, sec. 30, p. 301.]
ID Code § 41-4927 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4927 - BYLAWS OF THE FUND.

41-4927. BYLAWS OF THE FUND. The board shall adopt bylaws subject to the approval of the director, who shall grant his approval only after his determination that the provisions in the bylaws are not inconsistent nor contrary to the applicable provisions of title 41, Idaho Code, as amended in this chapter. These bylaws shall outline the organizational structure of the trust fund, its operational methods of complying with the provisions of this chapter, including the deposit, custody, disbursement and accounting for the moneys in the trust fund, fidelity bonds, if any, required of the administrator, the essential elements of the managerial contract with the administrator, the powers and duties of the administrator of the trust fund, the rights, privileges and responsibilities of insured owners or operators of storage tanks, the manner in which annual and special meetings of the board shall be conducted, and such other matters as may be customary, necessary or convenient for the management and operation of the trust fund.  History: [(41-4927) 41-4930, added 1990, ch. 119, sec. 1, p. 282; am. 1991, ch. 59, sec. 21, p. 131; am. & redesig. 2003, ch. 96, sec. 31, p. 301.]
ID Code § 41-4928 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4928 - RECORDS AND ACCOUNTS — ANNUAL STATEMENT.

41-4928. RECORDS AND ACCOUNTS — ANNUAL STATEMENT. (1) The administrator shall cause full and accurate records and accounts to be entered and maintained covering all financial transactions and affairs of the trust fund. (2) Within sixty (60) days after the close of each calendar year, the administrator shall make an annual statement in writing summarizing the financial transactions of the trust fund for such prior calendar year and its financial condition at the end of such year in accordance with this chapter and generally accepted and applicable accounting principles. The statement shall otherwise be in the form prescribed and shall provide the information required by the director of the department of insurance of the state of Idaho, and the financial information contained therein shall be certified by the accountant by whom such information was prepared and audited. (3) On or before the expiration of such sixty (60) day period the administrator shall cause an original of the annual statement to be filed with the director, and shall pay any filing fee required by the director or any other state agency having jurisdiction. At an appropriate time, consistent with the usual practices of the director, the director shall declare the annual statement to be open to the scrutiny of all interested parties and the public in general.  History: [(41-4928) 41-4931, added 1990, ch. 119, sec. 1, p. 283; am. & redesig. 2003, ch. 96, sec. 32, p. 302.]
ID Code § 41-4929 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4929 - MANAGEMENT CONTRACT WITH THE ADMINISTRATOR — MANDATORY PROVISIONS.

41-4929. MANAGEMENT CONTRACT WITH THE ADMINISTRATOR — MANDATORY PROVISIONS. (1) The management contract entered into between the administrator and the board as required in this chapter, shall not become effective 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 the twenty (20) day period. Any disapproval shall be delivered to the administrator in writing, stating the grounds therefor. (2) Any such contract, or contract holder, shall provide that the administrator shall, within ninety (90) days after expiration of each calendar year, furnish the director 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 principal management personnel of the administrator involved with the affairs of the trust fund, and with such classification of items and further detail as the director may reasonably require. (3) The director shall disapprove any such contract if he finds that it: (a) Subjects the trust fund to unreasonable or excessive charges; or (b) Does not contain fair and adequate standards of performance; or (c) Contains other inequitable provisions which impair the proper interests of the owners or operators insured by the trust fund. (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 basis of his original approval no longer exists, 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) of this section.  History: [(41-4929) 41-4932, added 1990, ch. 119, sec. 1, p. 283; am. 1991, ch. 59, sec. 22, p. 132; am. & redesig. 2003, ch. 96, sec. 33, p. 302.]
ID Code § 41-4930 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4930 - EXISTING INSURANCE LAWS TO APPLY TO THE TRUST FUND WITH CERTAIN EXCEPTIONS.

41-4930. EXISTING INSURANCE LAWS TO APPLY TO THE TRUST FUND WITH CERTAIN EXCEPTIONS. The trust fund shall comply with all of the applicable provisions of title 41, Idaho Code, with certain exceptions as follows: (1) The creation of the trust fund by act of the legislature shall not be deemed to be an ownership, control or operation of an insurer by a governmental entity, as referred to in section 41-309, Idaho Code, and the surplus funds of the trust fund shall be considered to be dedicated and held in reserve for the purpose of providing funds for the payment of claims arising out of the discharge of petroleum products from tanks covered by a contract of insurance issued to the tank owner or operator by the trust fund as provided for in section 41-4906, Idaho Code. The absolute control of the trust fund shall be vested in the board. (2) The provisions of this chapter shall be construed to be contained in the document of organization and bylaws of the trust fund for purposes of sections 41-319, 41-320 and 41-322, Idaho Code, and the director shall issue a certificate of registration to and in the name of the trust fund upon his finding that it has met all other appropriate provisions of the Idaho Code, including sections 41-313, 41-316 and 41-316A, Idaho Code. (3) Section 41-337, Idaho Code, shall not apply to contracts of insurance issued by the trust fund. (4) Sections 41-1004 and 41-1022, Idaho Code, shall not apply to employees of the state insurance fund or the trust fund. (5) Section 41-1103, Idaho Code, shall not apply to employees of the state insurance fund or the trust fund, provided the employees restrict their claims adjusting and investigation operations only to those contracts issued by the trust fund. (6) Except as otherwise provided in this chapter, chapter 28, title 41, Idaho Code, and chapter 14, title 30, Idaho Code, shall not apply to the trust fund nor shall this trust fund be construed to be a domestic mutual insurer, nor a reciprocal insurer, nor any other type of insurer currently regulated by title 41, Idaho Code, and the only organizational requirements of this trust fund shall be those enumerated in this chapter.  History: [(41-4930) 41-4933, added 1990, ch. 119, sec. 1, p. 284; am. 1991, ch. 59, sec. 23, p. 132; am. 1994, ch. 240, sec. 12, p. 759; am. 2001, ch. 296, sec. 9, p. 1068; am. & redesig. 2003, ch. 96, sec. 34, p. 303.]
ID Code § 41-4931 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4931 - TAXES.

41-4931. TAXES. (1) The trust fund shall not be subject to chapter 4, title 41, Idaho Code, as it pertains to premium tax. (2) The state of Idaho hereby preempts the field of imposing excise, privilege, franchise, income, license and similar taxes, licenses and fees upon the trust fund; and no county, city, municipality, district, school district, or other political subdivision or agency of Idaho shall levy upon this trust fund any such tax, license or fee.  History: [(41-4931) 41-4934, added 1990, ch. 119, sec. 1, p. 284; am. & redesig. 2003, ch. 96, sec. 35, p. 304.]
ID Code § 41-4932 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4932 - EXAMINATION OF BOOKS, RECORDS AND ACCOUNTS.

41-4932. EXAMINATION OF BOOKS, RECORDS AND ACCOUNTS. (1) The books, records, accounts and affairs of the trust fund shall be subject to examination by the director by competent examiners duly authorized by him in writing, at such times or intervals as the director deems advisable. The purposes of the examination shall be to determine compliance of the trust fund with applicable laws, the financial condition and actuarial adequacy of the trust fund, and other factors materially related to the trust fund’s management and operation. (2) The administrator shall make the books, records and accounts of the trust fund available to the examiner and otherwise facilitate the examination. (3) The examiner shall conduct the examination expeditiously, make his report of the examination in writing, and deliver a copy thereof to the administrator and the director. The administrator shall have two (2) weeks after receipt of the report within which to recommend to the director such corrections or changes therein as the administrator may deem appropriate. After making such corrections or changes, if any, as he deems proper, the director shall file the report in his office as a document open to public inspection, and deliver to the administrator a copy of the report as so corrected or changed. (4) At the direction of the director, the costs of the examination shall be borne by the trust fund in accordance with section 41-228, Idaho Code.  History: [(41-4932) 41-4935, added 1990, ch. 119, sec. 1, p. 284; am. 2001, ch. 85, sec. 13, p. 220; am. & redesig. 2003, ch. 96, sec. 36, p. 304.]
ID Code § 41-4933 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4933 - ADMINISTRATOR — FIDELITY BONDS.

41-4933. ADMINISTRATOR — FIDELITY BONDS. The administrator shall cause all individuals handling receipts and disbursements for the trust fund to be bonded at all times under a fidelity bond issued by a surety insurer authorized to transact such insurance in this state. The bond shall be in favor of the trust fund and for such aggregate penalty amount, not less than twenty-five thousand dollars ($25,000), as the director may deem reasonably advisable in relation to the amount of funds to be so handled. The bond shall be noncancelable except upon not less than thirty (30) days advance notice in writing to the administrator and the director. The cost of the bond shall be borne by the trust fund.  History: [(41-4933) 41-4936, added 1990, ch. 119, sec. 1, p. 285; am. & redesig. 2003, ch. 96, sec. 37, p. 304.]
ID Code § 41-4934 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT|Section 41-4934 - PROHIBITED PECUNIARY INTERESTS IN PLAN MANAGEMENT.

41-4934. PROHIBITED PECUNIARY INTERESTS IN PLAN MANAGEMENT. (1) Neither the administrator nor any other person having responsibility for the management of the trust fund or the investment or other handling of the trust fund moneys or assets shall: (a) Receive directly or indirectly or be pecuniarily interested in any fee, commission, compensation or emolument, other than salary or other similar compensation regularly fixed and allowed for services regularly rendered to the trust fund, arising out of any transaction to which the trust fund is or is to be a party; (b) Receive compensation as a consultant to the trust fund while also acting as a trustee or administrator, or as an employee of either; (c) Have any direct or indirect material pecuniary interest in any loan or investment of the trust fund. (2) The director may, after reasonable notice and a hearing, prohibit the administrator from employing or retaining or continuing to employ or retain any person in the administration of the trust fund upon finding that such employment or retention involves a conflict of interest not in the best interests of the trust fund or adversely affecting the interests of the owners or operators insured by the trust fund. (3) Any conflict of interest or prohibited pecuniary interest involving the members of the board of trustees of the trust fund shall be governed solely by the conflict of interest provisions of the Idaho nonprofit corporation act as set forth in section 30-30-619, Idaho Code.  History: [(41-4934) 41-4937, added 1990, ch. 119, sec. 1, p. 285; am. 1991, ch. 59, sec. 24, p. 133; am. and redesig. 2003, ch. 96, sec. 38, p. 305; am. 2004, ch. 175, sec. 2, p. 554; am. 2017, ch. 58, sec. 27, p. 122.]