2005 Idaho Code - 41-326 — SUSPENSION OR REVOCATION OF CERTIFICATE OF AUTHORITY -- MANDATORY GROUNDS

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 3
                          AUTHORIZATION OF INSURERS
                           AND GENERAL REQUIREMENTS
    41-326.  SUSPENSION OR REVOCATION OF CERTIFICATE OF AUTHORITY -- MANDATORY
GROUNDS. (1) The director shall refuse to continue, or shall suspend or
revoke, an insurer's certificate of authority:
    (a)  If such action is required by any provision of this code; or
    (b)  If a foreign insurer, it no longer meets the requirements for the
authority, on account of deficiency of assets or otherwise; or if a domestic
insurer, it has failed to cure an impairment of capital or surplus within the
time allowed therefor by the director under this code; or
    (c)  If the insurer knowingly exceeds its charter powers or powers granted
under its certificate of authority; or
    (d)  If the insurer's certificate of authority to transact insurance
therein is suspended or revoked by its state of domicile, or state of entry
into the United States if an alien insurer.
    (2)  Except in cases of insolvency or impairment of required capital or
surplus, or suspension or revocation by another state as referred to in
subdivision (d) above, the director shall so refuse, suspend, or revoke the
certificate of authority only after a hearing granted to the insurer thereon,
unless the insurer waives such hearing in writing.