Idaho § 41-2846 - Contingent liability of mutual members
Full text of Idaho Idaho Statutes § 41-2846 — Contingent liability of mutual members, with citation guidance and answers to common questions.
§ 41-2846. Contingent liability of mutual members
(1) Except as provided otherwise in section 41-2849 with respect to nonassessable policies, each member of a domestic mutual insurer shall have a contingent liability, pro rata and not one for another, for the discharge of its obligations, which contingent liability shall be in such maximum amount as is specified in the insurer’s articles of incorporation consistent with section 41-2804 (3)(a)(v).
(2) Every policy issued by the insurer shall contain a statement of the contingent liability.
(3) Termination of the policy of any such member shall not relieve the member of contingent liability for his proportion of the obligations of the insurer which accrued while the policy was in force as provided in section 41-2847 .
(4) Unrealized contingent liability of members does not constitute an asset of the insurer in any determination of its financial condition.
[41-2846, added 1961, ch. 330, sec. 614, p. 645.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 41-2846
What does Idaho Statutes § 41-2846 cover?
Section 41-2846 ("Contingent liability of mutual members") 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 § 41-2846?
A common citation format is "Idaho Statutes § 41-2846" (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 § 41-2846 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.