TITLE 41

INSURANCE

CHAPTER 3

AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS

41-319.  Application for certificate of authority. To apply for an original certificate of authority an insurer shall file with the director its application therefor, accompanied by the applicable fees set forth by rule pursuant to section 41-401, Idaho Code, showing its name, location of its home office or principal office in the United States (if an alien insurer), the kinds of insurance to be transacted, date of organization or incorporation, form of organization, state or country of domicile, and such additional information as the director may reasonably require, together with the following documents, as applicable:

(1)  If a foreign corporation, one (1) copy (photostatic copy or similar form of reproduction) of its corporate charter, articles of incorporation or other charter documents, with all amendments thereto, currently certified by the public official with whom the originals are on file in the state or country of domicile. If a domestic corporation, three (3) copies pursuant to section 41-2804, Idaho Code.

(2)  If a foreign corporation, one (1) copy (photostatic copy or similar form of reproduction) of its bylaws as amended, certified by the insurer’s corporate secretary. If a domestic corporation, three (3) copies (photostatic copies or similar form of reproduction) of its bylaws as amended, certified by the insurer’s corporate secretary.

(3)  If a reciprocal insurer, a copy of the power of attorney of its attorney in fact, and a copy of its subscribers’ agreement, if any, both certified by the attorney in fact; and if a domestic reciprocal insurer, the declaration provided for in section 41-2908, Idaho Code.

(4)  A complete copy of its financial statement as of not earlier than the December 31 next preceding in form as customarily used in the United States by like insurers, sworn to by at least two (2) executive officers of the insurer, or certified by the public insurance supervisory official of the insurer’s state of domicile or of entry into the United States.

(5)  Copy of report of last examination, if any, made of the insurer within not more than three (3) years next preceding, certified by the public insurance supervisory official of the insurer’s state of domicile or of entry into the United States; or, in the case of newly formed insurers, copy of the report of the "qualifying" examination of the insurer, similarly certified. Provided, however, that if the law of the applicant’s state of domicile requires that examinations shall be completed in a period of more than three (3) years or does not specify any period of time for examinations, then the applicant shall provide a copy of a report within not more than the five (5) years next preceding.

(6)  Appointment of the director pursuant to section 41-333, Idaho Code, as its attorney to receive service of legal process.

(7)  If a foreign insurer, a certificate of the public insurance supervisory official of its state or country of domicile showing that it is authorized to transact in such state or country the kind or kinds of insurance proposed to be transacted in this state.

(8)  If an alien insurer, a copy of the appointment and authority of its United States manager, certified by its officer having custody of its records.

(9)  If a foreign insurer, certificate as to deposit if to be tendered pursuant to section 41-316, Idaho Code.

(10) If a life or disability insurer, one (1) copy of the insurer’s rate book and of each form of policy proposed to be issued in this state. [1]

History:

[41-319, added 1961, ch. 330, sec. 82, p. 645; am. 1963, ch. 120, sec. 1, p. 348; am. 1983, ch. 188, sec. 1, p. 508; am. 2001, ch. 85, sec. 3, p. 213; am. 2004, ch. 89, sec. 1, p. 324; am. 2004, ch. 90, sec. 3, p. 327.]