US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 37
                      IDAHO HOSPITAL LIABILITY TRUST ACT
    41-3722.  LIQUIDATION OF TRUST FUND. (1) Upon termination of
administration, the trust fund of a hospital trust shall be liquidated.
    (2)  Liquidation shall be conducted by its trustee under a plan of
liquidation in writing filed with the director, found by the director to be
fair and equitable to all persons having a pecuniary interest in the trust
fund, and approved by him. Any balance remaining after payment or adequate
provision for all claims and charges against the trust fund shall be disposed
of in such manner as is provided for in the plan of liquidation. Unless under
the plan of liquidation liability for all unpaid claims and obligations of the
trust fund has been assumed by other financially responsible person or
persons, the existence of surplus funds for such disposition shall not be
determined prior to expiration of two (2) years after termination of the
registration.
    (3)  The plan of liquidation of an insolvent trust fund, after such plan
has been approved by the director, shall be binding upon all persons
pecuniarily interested in the trust fund. Pending the effectuation of the plan
of liquidation of an insolvent trust fund the director may impose such
prohibitions or restrictions upon disbursement or use of trust fund moneys as
he deems advisable for the protection of all interested persons.
    (4)  If the trust fund is then insolvent and a plan of liquidation thereof
satisfactory to the director as being fair and equitable is not filed with him
within sixty (60) days after the effective date of termination of the plan's
registration, or if liquidation of a solvent trust fund is not being carried
out in accordance with the plan of liquidation theretofore approved by him,
the director shall liquidate the trust fund under the applicable provisions of
chapter 33, title 41, Idaho Code (rehabilitation and liquidation), and for the
purpose the trust fund shall be deemed to be an insolvent domestic insurer.