TITLE 69

WAREHOUSES

CHAPTER 2

BONDED WAREHOUSE LAW

69-241.  Insurance — Cancellation procedure — Suspension of license. With the existence of an effective policy of insurance as required by section 69-206(1), Idaho Code, the insurance company involved shall be required to give ninety (90) days’ advance notice to the department by registered or certified mail, return receipt requested, of cancellation of the policy. In the event of any cancellation, the department shall immediately terminate the license of such person without a hearing, and the termination shall be in effect until satisfactory evidence of the existence of an effective policy of insurance complying with the requirements of this chapter has been submitted to the department.

History:

[69-241, added 1982, ch. 25, sec. 31, p. 47; am. 1983, ch. 44, sec. 14, p. 112; am. 1985, ch. 138, sec. 7, p. 381; am. 2002, ch. 259, sec. 29, p. 772.]