TITLE 41

INSURANCE

CHAPTER 31

COUNTY MUTUAL INSURERS

41-3119.  Other provisions applicable. The following chapters and provisions of this code shall also apply to county mutual fire insurers to the extent so applicable and not inconsistent with the express provisions of this chapter and the reasonable implications of such express provisions:

(1)  Chapter 1 (scope of code);

(2)  Chapter 2 (the director of the department of insurance);

(3)  The following provisions of chapter 3 (authorization of insurers and general requirements):

(a)  Section 41-305 (certificate of authority required);

(b)  Section 41-308(2) (general eligibility for certificate of authority);

(c)  Section 41-311 (name of insurer);

(d)  Section 41-323 (what certificate evidences–ownership of certificate);

(e)  Section 41-325 (amendment of certificate of authority);

(f)  Section 41-326 (suspension or revocation of certificate of authority, mandatory grounds);

(g)  Section 41-327 (suspension, revocation of certificate of authority, discretionary and special grounds);

(h)  Section 41-328 (order, notice of suspension, revocation or refusal–effect upon agents’ authority);

(i)  Section 41-329 (duration of suspension–insurer’s obligations during suspension period–reinstatement); and

(j)  Section 41-336 (review of annual statement–additional information);

(4)  Section 41-510 ("reinsurance" defined);

(5)  The following sections of chapter 6 (assets and liabilities):

(a)  Sections 41-601 ("assets" defined), 41-602 (assets as deductions from liabilities), and 41-603 (assets not allowed);

(b)  Section 41-604 (disallowance of "wash" transactions); and

(c)  Sections 41-613 (valuation of bonds), 41-614 (valuation of other securities), and 41-615 (valuation of property);

(6)  Sections 41-1201 (representing or aiding unauthorized insurer prohibited), 41-1202 (representing or aiding unauthorized insurer prohibited–penalty), and 41-1203 (suits by unauthorized insurer prohibited);

(7)  Chapter 13 (trade practices and frauds);

(8)  Chapter 18 (the insurance contract);

(9)  Section 41-2401 (standard fire policy);

(10)  The following provisions of chapter 28 (organization and corporate procedures of stock and mutual insurers):

(a)  Section 41-2803 (applicability of general corporation statutes);

(b)  Section 41-2828 (insurance business exclusive);

(c)  Section 41-2829 (membership in mutuals);

(d)  Section 41-2830 (by-laws of mutual);

(e)  Section 41-2831 (rights of mutual members, in general);

(f)  Section 41-2832 (meetings of members of mutual insurer);

(g)  Section 41-2833 (special meetings of members of mutual insurer);

(h)  Section 41-2836 (notice of change of directors, officers);

(i)  Section 41-2837 (prohibited pecuniary interest of officials) except agents may also serve as directors of county mutual insurers;

(j)  Section 41-2838 (management and exclusive agency contracts);

(k)  Section 41-2839 (home office, records, and assets; penalty for unlawful removal);

(l)  Section 41-2840 (vouchers for expenditures);

(m)  Section 41-2841 (borrowed surplus);

(n)  Section 41-2851 (solicitations in other states);

(o)  Sections 41-2857 (mergers and consolidations, mutual insurers) and 41-2858 (bulk reinsurance, mutual insurers); and

(p)  Section 41-2859 (mutual member’s share of assets on liquidation).

(11)  Chapter 33 (rehabilitation and liquidation); and

(12)  Sections 799 to 809 of chapter 330 of the session laws of 1961 (transitory provisions).

History:

[41-3119, added 1961, ch. 330, sec. 677, p. 645; am. 1983, ch. 46, sec. 2, p. 117.]