Idaho § 41-2849 - Nonassessable policies - Mutual insurers
Full text of Idaho Idaho Statutes § 41-2849 — Nonassessable policies - Mutual insurers, with citation guidance and answers to common questions.
§ 41-2849. Nonassessable policies - Mutual insurers
(1) A domestic mutual insurer while maintaining unimpaired surplus funds not less in amount than the minimum paid-in capital stock required of a domestic stock insurer formed under this code for authority to transact the same kind or kinds of insurance, may, upon receipt of the director’s order so authorizing, extinguish the contingent liability to assessment of its members as to all its policies in force and may omit provisions imposing contingent liability in all policies currently issued.
(2) The director shall not authorize a domestic insurer to extinguish the contingent liability of any of its members or in any of its policies to be issued, unless it qualifies to and does extinguish such liability of all its members and in all such policies for all kinds of insurance transacted by it.
(3) A foreign or alien mutual insurer may issue nonassessable policies to its members in this state pursuant to its charter and the laws of its domicile.
[41-2849, added 1961, ch. 330, sec. 617, p. 645.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 41-2849
What does Idaho Statutes § 41-2849 cover?
Section 41-2849 ("Nonassessable policies - Mutual insurers") 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 § 41-2849?
A common citation format is "Idaho Statutes § 41-2849" (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 § 41-2849 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.