TITLE 41

INSURANCE

CHAPTER 3

AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS

41-343.  Articles of redomestication. (1) Upon receiving approval under section 41-342, Idaho Code, articles of redomestication shall be executed in duplicate by an insurance corporation by its president or a vice president and by its secretary or an assistant secretary and verified by one (1) of the officers of the corporation and shall set forth:

(a)  The date of approval of the director of the Idaho department of insurance of the redomestication; and

(b)  The state in which the insurer was originally incorporated, the date the insurer was incorporated in that state, and the date the insurer was authorized to do business as an insurer in the state in which it was originally incorporated.

(2)  The insurer shall attach to the articles of redomestication:

(a)  Articles of incorporation including such amendments as may be required to comply with the requirements of part 10, chapter 29, title 30, Idaho Code;

(b)  A copy of the certificate of redomestication issued by the director of the Idaho department of insurance.

(3)  Duplicate originals of the articles of redomestication shall be delivered to the secretary of state. If the secretary of state finds that such articles conform to law, he shall, when all fees have been paid as prescribed in chapter 21, title 30, Idaho Code:

(a)  Endorse on each of such duplicate originals the word "Filed," and the month, day and year of the filing, together with the date from which the insurer has existed and operated as an insurer which shall be the date the insurer was originally incorporated in the state in which the insurer was originally incorporated;

(b)  File one (1) of such duplicate originals in his office; and

(c)  Issue a certificate of redomestication setting forth the date on which the articles of redomestication were filed and the date from which the insurer has existed and operated as an insurer which shall be the date the insurer was originally incorporated in the state in which the insurer was originally incorporated.

(4)  The certificate of redomestication, together with the duplicate original of the articles of redomestication affixed thereto by the secretary of state, shall be returned to the insurer or to its representative.

History:

[41-343, added 1987, ch. 302, sec. 2, p. 642; am. 2017, ch. 58, sec. 23, p. 117.]