Idaho § 41-4924 - Qualifications for registration
Full text of Idaho Idaho Statutes § 41-4924 — Qualifications for registration, with citation guidance and answers to common questions.
§ 41-4924. Qualifications for registration
The director shall not register the trust fund if it is not qualified therefor. To be qualified, the trust fund:
(1) Shall require all application fees to be paid in advance and to be deposited in and disbursed from the trust fund duly created under this chapter.
(2) Shall have, or provide for, a trustworthy and responsible administrator for competent administration of the trust fund and plan.
(3) Shall provide that the administrator furnish to each insured owner or operator a contract of insurance adequately and clearly stating all rights and obligations of the insured owner or operator, together with all applicable restrictions, limitations and exclusions, and the procedure for filing a claim.
(4) Shall be actuarially sound; that is, assets, income and other financial resources of the trust fund must be adequate under reasonable estimates for payment of all claims, claims adjustment expenses, taxes, expenses and other obligations.
(5) Shall otherwise be in compliance with the provisions of this chapter.
Frequently Asked Questions About Idaho § 41-4924
What does Idaho Statutes § 41-4924 cover?
Section 41-4924 ("Qualifications for registration") 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 § 41-4924?
A common citation format is "Idaho Statutes § 41-4924" (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 § 41-4924 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.