TITLE 41

INSURANCE

CHAPTER 31

COUNTY MUTUAL INSURERS

41-3108.  Certificate of authority required. (1) No county mutual fire insurer shall transact insurance except as authorized by a subsisting certificate of authority issued to it by the director.

(2)  To apply for a certificate of authority the insurer shall file with the director its written application therefor showing:

(a)  The name and head office address of the insurer;

(b)  The name, residence address, and occupation of each of the insurer’s directors and officers;

(c)  The kinds of insurance proposed to be transacted;

(d)  The Idaho counties in which the insurer proposes to transact insurance; and

(e)  Such other and additional information relative to the insurer as the director may reasonably require.

(3)  The application shall be accompanied by such of the following as may not already be on file with the director:

(a)  Copy of the insurer’s articles of incorporation and of its by-laws, each certified by the insurer’s corporate secretary;

(b)  Copy of the insurer’s financial statement as of a date within three (3) months prior to the filing of the application;

(c)  Copy of form of insurance policy or policies proposed to be issued;

(d)  Schedule of or statement as to sums proposed to be collected in advance at time of issuance of insurance; and

(e)  Fee for issuance of the certificate of authority in the amount specified in section 41-3118 (fee schedule).

(4)  If the director finds the application and accompanying documents to be consistent with law, he shall issue the insurer a certificate of authority; otherwise, the director shall deny the application for certificate of authority by written order stating the grounds for such denial and refund to the applicant any sum tendered as fee for issuance of the certificate.

(5)  Certificates of authority issued under this section shall continue in force as long as the insurer is entitled thereto under this code and until suspended or revoked by the director, or terminated at the request of the insurer; subject, however, to continuance of the certificate by the insurer each year by payment prior to March 1 of the continuation fee provided in section 41-3118 (fee schedule) and due filing by the insurer of its annual statement for the calendar year preceding as required under section 41-3116. If not so continued by the insurer, its certificate of authority shall expire as at midnight on the March 31 next following such failure of the insurer to continue it in force.

History:

[41-3108, added 1961, ch. 330, sec. 666, p. 645.]