There is created a nonprofit unincorporated legal entity to be known as the Idaho insurance guaranty association. All insurers defined as member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under section 41-3609, Idaho Code, and shall exercise its powers through a board of directors established under section 41-3607, Idaho Code. For purposes of administration and assessment, the association shall maintain one (1) account. Any accounts in existence on June 30, 2001, shall be consolidated into one (1) account.
Idaho Code § 41-3606
Insurance guaranty association — Insurers required to be members — Purposes
Applied in 1 court decision — leading case Maguire, Ward, Maguire & Eldredge v. Idaho Insurance Guaranty Ass'n (1986)
Most recently applied in Maguire, Ward, Maguire & Eldredge v. Idaho Insurance Guaranty Ass'n (December 1986)
1970, ch. 152, § 6, p. 462; am. 2001, ch. 155, § 2, p. 558.
Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.