2005 Idaho Code - 41-316A — DEPOSIT -- GENERAL REQUIREMENT -- DOMESTIC INSURERS

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 3
                          AUTHORIZATION OF INSURERS
                           AND GENERAL REQUIREMENTS
    41-316A.  DEPOSIT -- GENERAL REQUIREMENT -- DOMESTIC INSURERS. This
section shall apply to all domestic insurers.
    (1)  The director shall not authorize the formation of a new domestic
insurer or the redomestication to this state of an insurer unless it makes and
thereafter maintains in trust in this state through the director for the
protection of all its policyholders and creditors, a deposit of cash or
securities eligible for deposit under section 41-803, Idaho Code, in an amount
of the minimum capital for a stock insurer and basic surplus of a mutual or
reciprocal insurer, as required in sections 41-313 and 41-2652, Idaho Code.
    (2)  A domestic insurer holding a valid certificate of authority to
transact insurance in this state immediately prior to January 1, 1994, shall
have a period of three (3) years from and after that date within which to
comply with any increase in deposit requirements.