Idaho § 22-5114 - Insurance - Cancellation procedure - Suspension of license - Self-insurance
Full text of Idaho Idaho Statutes § 22-5114 — Insurance - Cancellation procedure - Suspension of license - Self-insurance, with citation guidance and answers to common questions.
§ 22-5114. Insurance - Cancellation procedure - Suspension of license - Self-insurance
(1) Every seed buyer who has a seed facility where seed crops are stored for withdrawal or transferred, shall maintain a "commercial property policy" of insurance, or its equivalent, issued by a company qualified to do business in the state in which the facility is located. The amount of insurance shall be sufficient to cover the property loss of the insured and such additional amounts that are: (a) greater than or equal to the total seed buyer indebtedness and the value of seed crop stored for withdrawal during the previous license year, or (b) estimated current calendar year seed crop indebtedness to producers and the value of seed crop to be stored for withdrawal. The department rules shall enumerate the perils to be covered by the policy.
(2) The insurance company issuing the policy of insurance shall give ninety (90) days’ advance notice to the department by registered or certified mail, return receipt requested, of cancellation of the policy.
(3) When the insurance policy of a seed buyer is canceled, the department shall immediately suspend the license of the seed buyer, and the suspension shall be in effect until satisfactory evidence exists that an effective policy of insurance complying with the requirements of this chapter has been submitted to the department.
(4) Seed buyers desiring to be self-insured shall apply to the department for authorization to self-insure. Application shall be made on forms prescribed by the department.
[22-5114, added 2002, ch. 256, sec. 1, p. 742.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 22-5114
What does Idaho Statutes § 22-5114 cover?
Section 22-5114 ("Insurance - Cancellation procedure - Suspension of license - Self-insurance") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 22-5114?
A common citation format is "Idaho Statutes § 22-5114" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 22-5114 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.