Idaho § 49-1224 - Self-insurers
Full text of Idaho Idaho Statutes § 49-1224 — Self-insurers, with citation guidance and answers to common questions.
§ 49-1224. Self-insurers
(1) Any person in whose name more than twenty-five (25) motor vehicles are registered and titled in Idaho, or engaged in the operation of a railroad, street railway system or public utility subject to the regulation of the public utilities commission irrespective of the number of vehicles registered, may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the department.
(2) The department may, in its discretion, issue a certificate of self-insurance and certificate of liability insurance in a form as the department prescribes when the department is satisfied that the person is possessed and will continue to be possessed of ability to pay judgments obtained against that person upon application, and providing a statement by a certified public accountant attesting the applicant’s net worth is five hundred thousand dollars ($500,000), a list of vehicles and an application fee of seventy dollars ($70.00) which shall be deposited in the state highway account.
(3) The self-insurer will be required to submit an annual financial statement showing net worth of five hundred thousand dollars ($500,000), a list of vehicles and a seventy dollar ($70.00) issue fee to be deposited in the state highway account.
(4) Upon not less than five (5) days’ notice and a hearing pursuant to the notice, the department may upon reasonable grounds cancel a certificate of self-insurance. Failure to pay any judgment within thirty (30) days after a judgment shall have become final shall constitute a reasonable ground for the cancellation of a certificate of self-insurance.
[49-1224, added 1988, ch. 265, sec. 314, p. 736; am. 1992, ch. 115, sec. 30, p. 374; am. 2009, ch. 331, sec. 6, p. 958.]
Frequently Asked Questions About Idaho § 49-1224
What does Idaho Statutes § 49-1224 cover?
Section 49-1224 ("Self-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 § 49-1224?
A common citation format is "Idaho Statutes § 49-1224" (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 § 49-1224 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.