TITLE 41

INSURANCE

CHAPTER 32

FRATERNAL BENEFIT SOCIETIES

41-3226.  License. (1) No fraternal benefit society shall transact business in this state without a license therefor issued by the director. Such a license issued under this code shall continue in force for as long as the society is entitled thereto under this chapter and until suspended or revoked by the director, or terminated at the request of the society; subject, however, to continuance of the license by the society each year by:

(a)  Payment prior to March 1 of the continuation fee provided in section 41-3235, Idaho Code, (fees); and

(b)  Due filing by the society of its annual statement for the calendar year preceding as required under section 41-3225, Idaho Code.

(2)  If not so continued by the society, its license shall expire at midnight on the March 31 next following such failure of the society to continue it in force. The director shall promptly notify the society of the occurrence of any failure resulting in impending expiration of its license.

(3)  The director may, in his discretion, upon the society’s request made within three (3) months after expiration, reinstate a license which the society has inadvertently permitted to expire, after the society had fully cured all its failures which resulted in the expiration, and upon payment by the society of an additional fee for reinstatement specified in section 41-3235, Idaho Code (fees). Otherwise the society shall be granted another license only after filing application therefor and meeting all other requirements as for an original license.

(4)  For each license the society shall pay the director the fee prescribed in section 41-3235, Idaho Code.

(5)  A duly certified copy or duplicate of the license shall be prima facie evidence that the licensee is a fraternal benefit society within the meaning of this chapter.

History:

[41-3226, added 1995, ch. 213, sec. 2, p. 736.]