2004 Legislation
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HOUSE BILL NO. 492 – Insurer, certificate of authority

HOUSE BILL NO. 492

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Bill Status



H0492...........................................................by BUSINESS
INSURER - CERTIFICATE OF AUTHORITY - Amends existing law relating to
insurers to require foreign corporations to submit one copy and domestic
corporations to submit three copies of specified corporate documents with
an application for an original certificate of authority; and to delete
document requirements relating to worker's compensation insurers and
authorized representation.
                                                                        
01/20    House intro - 1st rdg - to printing
01/21    Rpt prt - to Bus
02/10    Rpt out - rec d/p - to 2nd rdg
02/11    2nd rdg - to 3rd rdg
02/16    3rd rdg - PASSED - 64-5-1
      AYES -- Andersen, Barraclough, Barrett, Bauer, Bayer, Bedke, Bell,
      Black, Block, Boe, Bolz, Bradford, Campbell, Cannon, Clark, Collins,
      Crow, Deal, Denney, Douglas, Eberle, Edmunson, Ellsworth, Field(18),
      Field(23), Gagner, Garrett, Harwood, Henbest, Jaquet, Jones,
      Kellogg(Nonini), Lake, Langhorst, Martinez, McGeachin, McKague,
      Meyer, Miller, Mitchell, Moyle, Naccarato, Pasley-Stuart, Raybould,
      Ridinger, Ring, Ringo, Roberts, Robison, Rydalch, Sayler, Schaefer,
      Shepherd, Shirley, Skippen, Smith(30), Smith(24), Smylie, Snodgrass,
      Stevenson, Trail, Wills, Wood, Mr. Speaker
      NAYS -- Eskridge, Kulczyk, Langford, Nielsen, Sali
      Absent and excused -- Cuddy
    Floor Sponsor - Collins
    Title apvd - to Senate
02/17    Senate intro - 1st rdg - to Com/HuRes
02/25    Rpt out - rec d/p - to 2nd rdg
02/26    2nd rdg - to 3rd rdg
03/10    3rd rdg - PASSED - 35-0-0
      AYES -- Andreason(Andreason), Bailey, Brandt, Bunderson, Burkett,
      Burtenshaw, Calabretta, Cameron, Compton, Darrington, Davis, Gannon,
      Geddes, Goedde, Hill, Ingram, Kennedy, Keough, Little, Lodge,
      Malepeai, Marley, McKenzie, McWilliams, Noble, Noh, Pearce,
      Richardson, Schroeder, Sorensen, Stegner, Stennett, Sweet, Werk,
      Williams
      NAYS -- None
      Absent and excused -- None
    Floor Sponsor - Compton
    Title apvd - to House
03/11    To enrol
03/12    Rpt enrol - Sp signed
03/15    Pres signed
03/16    To Governor
03/19    Governor signed
         Session Law Chapter 89
         Effective: 07/01/04

Bill Text


                                                                        
                                                                        
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-seventh Legislature                 Second Regular Session - 2004
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                                     HOUSE BILL NO. 492
                                                                        
                                   BY BUSINESS COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO AUTHORIZATION OF INSURERS; AMENDING SECTION 41-319, IDAHO CODE, TO
  3        REQUIRE FOREIGN CORPORATIONS TO SUBMIT ONE COPY AND DOMESTIC  CORPORATIONS
  4        TO  SUBMIT  THREE COPIES OF SPECIFIED CORPORATE DOCUMENTS WITH AN APPLICA-
  5        TION FOR AN ORIGINAL CERTIFICATE  OF  AUTHORITY  AND  TO  DELETE  DOCUMENT
  6        REQUIREMENTS  RELATING  TO  WORKER'S  COMPENSATION INSURERS AND AUTHORIZED
  7        REPRESENTATION.
                                                                        
  8    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  9        SECTION 1.  That Section 41-319, Idaho Code, be, and the  same  is  hereby
 10    amended to read as follows:
                                                                        
 11        41-319.  APPLICATION  FOR CERTIFICATE OF AUTHORITY. To apply for an origi-
 12    nal certificate of authority an insurer  shall  file  with  the  director  its
 13    application  therefor,  accompanied  by  the applicable fees set forth by rule
 14    pursuant to section 41-401, Idaho Code, showing its name, location of its home
 15    office or principal office in the United States (if  an  alien  insurer),  the
 16    kinds  of  insurance  to be transacted, date of organization or incorporation,
 17    form of organization, state or country of domicile, and such additional infor-
 18    mation as the director may reasonably require,  together  with  the  following
 19    documents, as applicable:
 20        (1)  If  a  foreign  corporation, two (2) copies one (1) copy (photostatic
 21    copies copy or similar form of reproduction) of its corporate  charter,  arti-
 22    cles of incorporation or other charter documents, with all amendments thereto,
 23    currently certified by the public official with whom the originals are on file
 24    in the state or country of domicile. If a domestic corporation, three (3) cop-
 25    ies pursuant to section 41-2804, Idaho Code.
 26        (2)  If  a  foreign corporation, one (1) copy (photostatic copy or similar
 27    form of reproduction) of its bylaws as amended,  certified  by  the  insurer's
 28    corporate  secretary. If a domestic insurer or mutual insurer corporation, one
 29    (1) copy  three (3) copies (photostatic copy copies or similar form of  repro-
 30    duction) of its bylaws as amended, certified by the insurer's corporate secre-
 31    tary.
 32        (3)  If  a  reciprocal  insurer,  a  copy  of the power of attorney of its
 33    attorney in fact, and a copy of its subscribers' agreement, if any, both  cer-
 34    tified by the attorney in fact; and if a domestic reciprocal insurer, the dec-
 35    laration provided for in section 41-2908, Idaho Code.
 36        (4)  A complete copy of its financial statement as of not earlier than the
 37    December 31 next preceding in form as customarily used in the United States by
 38    like insurers, sworn to by at least two (2) executive officers of the insurer,
 39    or  certified  by  the  public insurance supervisory official of the insurer's
 40    state of domicile or of entry into the United States.
 41        (5)  Copy of report of last examination,  if  any,  made  of  the  insurer
 42    within  not  more than three (3) years next preceding, certified by the public
 43    insurance supervisory official of the insurer's state of domicile or of  entry
                                                                        
                                           2
                                                                        
  1    into  the United States; or, in the case of newly formed insurers, copy of the
  2    report of the "qualifying" examination of the  insurer,  similarly  certified.
  3    Provided,  however,  that  if  the  law  of  the applicant's state of domicile
  4    requires that examinations shall be completed in a period of more  than  three
  5    (3)  years  or  does not specify any period of time for examinations, then the
  6    applicant shall provide a copy of a report within not more than the  five  (5)
  7    years next preceding.
  8        (6)  Appointment  of  the director pursuant to section 41-333, Idaho Code,
  9    as  its attorney to receive service of legal process.
 10        (7)  If a foreign insurer, a certificate of the public insurance  supervi-
 11    sory  official  of  its state or country of domicile showing that it is autho-
 12    rized to transact in such state or country the kind or kinds of insurance pro-
 13    posed to be transacted in this state.
 14        (8)  If a worker's compensation insurer, tender  of  the  special  deposit
 15    required under section 41-317, Idaho Code.
 16        (9)  If  an  alien insurer, a copy of the appointment and authority of its
 17    United States manager, certified by its officer having custody of its records.
 18        (109)  If a foreign insurer, certificate as to deposit if to  be  tendered
 19    pursuant to section 41-316, Idaho Code.
 20        (110) If  a life or disability insurer, one (1) copy of the insurer's rate
 21    book and of each form of policy proposed to be issued in this state.
 22        (12) A certificate of the insurer granting  authority  to  an  officer  or
 23    authorized representative of the insurer to appoint and remove agents.

Statement of Purpose / Fiscal Impact


                     STATEMENT  OF  PURPOSE
                            RS 13506
This bill amends Idaho Code Section 41-319 to change the number of
copies of certain documents that are required to be submitted by an
insurer applying for an Idaho certificate of authority.  It also
eliminates subsections of this code section that require items no
longer deemed necessary by the Department of Insurance.







                         FISCAL  IMPACT
There will be no fiscal impact.





CONTACT   
Name:     Martha Hopper
Agency:   Department of Insurance
Phone:    334-4315

Statement of Purpose/Fiscal Impact                     H 492