Idaho § 41-3330 - Setoffs
Full text of Idaho Idaho Statutes § 41-3330 — Setoffs, with citation guidance and answers to common questions.
§ 41-3330. Setoffs
(1) Mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this act shall be set off and the balance only shall be allowed or paid, except as provided in subsection (2) of this section and section 41-3333 , Idaho Code.
(2) No setoff shall be allowed in favor of any person where:
(a) The obligation of the insurer to the person would not at the date of the filing of a petition for liquidation entitle the person to share as a claimant in the assets of the insurer;
(b) The obligation of the insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff; or
(c) The obligation of the person is to pay an assessment levied against the members or subscribers of the insurer, or is to pay a balance upon a subscription to the capital stock of the insurer, or is in any other way in the nature of a capital contribution.
[41-3330, added 1981, ch. 249, sec. 2, p. 526; am. 1996, ch. 304, sec. 1, p. 1000.]
Frequently Asked Questions About Idaho § 41-3330
What does Idaho Statutes § 41-3330 cover?
Section 41-3330 ("Setoffs") 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 § 41-3330?
A common citation format is "Idaho Statutes § 41-3330" (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 § 41-3330 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.