Print Friendly HOUSE BILL NO. 492 – Insurer, certificate of authority
HOUSE BILL NO. 492
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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
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,
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
]]]] 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
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-
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
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 (1 10) 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
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.
There will be no fiscal impact.
Name: Martha Hopper
Agency: Department of Insurance
Statement of Purpose/Fiscal Impact H 492