2005 Idaho Code - 41-324 — CONTINUANCE, EXPIRATION, OR REINSTATEMENT OF CERTIFICATE OF AUTHORITY

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 3
                          AUTHORIZATION OF INSURERS
                           AND GENERAL REQUIREMENTS
    41-324.  CONTINUANCE, EXPIRATION, OR REINSTATEMENT OF CERTIFICATE OF
AUTHORITY. (1) A certificate of authority shall continue in force as long as
the insurer is entitled thereto under this code and until suspended or revoked
by the director, or terminated at the request of the insurer; subject,
however, to continuance of the certificate by the insurer each year by:
    (a)  Payment prior to March 1 of the continuation fee as required by
    regulation of the department of insurance; and
    (b)  Due filing by the insurer of its annual statement for the calendar
    year preceding as required under section 41-335, Idaho Code; and
    (c)  Payment by the insurer of premium taxes with respect to the preceding
    calendar year as required by sections 41-402 and 41-403, Idaho Code.
    (2)  If not so continued by the insurer, its certificate of authority
shall expire as at midnight on the March 31 next following such failure of the
insurer to continue it in force. The director shall promptly notify the
insurer of the occurrence of any failure resulting in impending expiration of
its certificate of authority.
    (3)  The director may, in his discretion, upon the insurer's request made
within three (3) months after expiration, reinstate a certificate of authority
which the insurer has inadvertently permitted to expire, after the insurer has
fully cured all its failures which resulted in the expiration, and upon
payment by the insurer of the fee for reinstatement specified in section
41-401, Idaho Code (fee schedule). Otherwise the insurer shall be granted
another certificate of authority only after filing application therefor and
meeting all other requirements as for an original certificate of authority in
this state.