US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 43
                   IDAHO LIFE AND HEALTH INSURANCE GUARANTY
                               ASSOCIATION ACT
    41-4305.  DEFINITIONS. As used in this act:
    (1)  "Account" means either of the three (3) accounts created under
section 41-4306, Idaho Code.
    (2)  "Association" means the Idaho life and health insurance guaranty
association created under section 41-4306, Idaho Code.
    (3)  "Director" means director of the department of insurance of this
state.
    (4)  "Contractual obligation" means any obligation under covered policies.
    (5)  "Covered policy" means any policy or contract within the scope of
this act under section 41-4303, Idaho Code.
    (6)  "Impaired insurer" means a member insurer deemed by the director
after the effective date of this act to be potentially unable to fulfill its
contractual obligations and not an insolvent insurer.
    (7)  "Insolvent insurer" means a member insurer which after the effective
date of this act, becomes insolvent and is placed under a final order of
liquidation, rehabilitation or conservation by a court of competent
jurisdiction.
    (8)  "Member insurer" means any person licensed to transact in this state
any kind of insurance to which this act applies under section 41-4303, Idaho
Code.
    (9)  "Premiums" means [mean] direct gross insurance premiums and annuity
considerations received on covered policies, less return premiums and
considerations thereon and dividends paid or credited to policyholders on such
direct business. "Premiums" do not include premiums and considerations on
contracts between insurers and reinsurers.
    (10)  "Person" means any individual, corporation, partnership, association
or voluntary organization.
    (11)  "Resident" means any person who resides in this state at the time a
member insurer is determined to be an impaired or insolvent insurer and to
whom contractual obligations are owed.
    (12)  "Unallocated annuity contract" means any annuity contract which is
not issued to and owned by an individual.