Idaho § 41-2930 - Impaired reciprocals
Full text of Idaho Idaho Statutes § 41-2930 — Impaired reciprocals, with citation guidance and answers to common questions.
§ 41-2930. Impaired reciprocals
(1) If the assets of a reciprocal insurer are at any time insufficient to discharge its liabilities, other than any liability on account of funds contributed by the attorney or others, and to maintain the required surplus, its attorney shall forthwith make up the deficiency or levy an assessment upon the subscribers for the amount needed to make up the deficiency; but subject to the limitation set forth in the power of attorney or policy.
(2) If the attorney fails to make up such deficiency or to make the assessment within thirty (30) days after the director orders him to do so, or if the deficiency is not fully made up within sixty (60) days after the date the assessment was made, the insurer shall be deemed insolvent and shall be proceeded against as authorized by this code.
(3) If liquidation of such an insurer is ordered, an assessment shall be levied upon the subscribers for such an amount, subject to limits as provided by this chapter, as the director determines to be necessary to discharge all liabilities of the insurer, exclusive of any funds contributed by the attorney or other persons, but including the reasonable cost of the liquidation.
[41-2930, added 1961, ch. 330, sec. 657, p. 645.]
Frequently Asked Questions About Idaho § 41-2930
What does Idaho Statutes § 41-2930 cover?
Section 41-2930 ("Impaired reciprocals") 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 § 41-2930?
A common citation format is "Idaho Statutes § 41-2930" (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 § 41-2930 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.