US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 29
                             RECIPROCAL INSURERS
    41-2919.  WHO MAY BE SUBSCRIBERS. (1) Individuals, partnerships,
associations and corporations, public or private, of this state, hereby
designated as subscribers, are authorized to exchange reciprocal or
interinsurance contracts with each other, or with individuals, partnerships,
associations and corporations, public or private, of other states and
countries, providing indemnity among themselves for any loss which may be
insured against by the reciprocal insurer to which they are subscribers;
except, that public corporations of this state may so insure only in an
insurer which has a surplus of three hundred thousand dollars ($300,000) or
more and under an insurance contract as to which such an insured has no
contingent liability.
    (2)  Any corporation now or hereafter organized under the laws of this
state shall, in addition to the rights, powers and franchises specified in its
articles of incorporation have full power and authority to exchange insurance
contracts of the kind and character mentioned in subsection (1) above. The
right to exchange such contracts is declared to be incidental to the purposes
for which such corporations are organized and as much granted as the rights
and powers expressly conferred.
    (3)  Governmental entities of this state as defined by section 6-902,
Idaho Code, may insure with a domestic reciprocal insurer authorized to do
business in this state as a reciprocal insurer so long as said governmental
entity insurer has complied with the applicable provisions of this title.
    (4)  Any officer, representative, trustee, receiver, or legal
representative of any such subscriber shall be recognized as acting for or on
its behalf for the purpose of such contract but shall not be personally liable
upon the contract by reason of acting in such representative capacity.