2005 Idaho Code - 41-2805 — FILING OF ARTICLES

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 28
                    ORGANIZATION AND CORPORATE PROCEDURES
                         OF STOCK AND MUTUAL INSURERS
    41-2805.  FILING OF ARTICLES. (1) The incorporators shall submit the
executed articles of incorporation of a proposed stock or mutual insurer in
triplicate to the director for review. If the director finds the articles to
be in compliance with this code he shall deliver an original thereof to the
attorney general for examination. After examining the articles, the attorney
general shall return them to the director accompanied by his opinion
certifying as to whether or not he has found the articles to be in accordance
with the laws of this state and not inconsistent with the constitution of this
state. If the attorney general has found the articles to be in accordance with
law, the director shall, upon payment of the fees prescribed by law therefor,
and except as provided in subsection (2) of this section, certify his approval
upon each of the three (3) originals of the articles, file one (1) of such
originals in his office and deliver two (2) of such originals to the
incorporators, one (1) to be retained by the corporation as part of its
corporate records, and one (1) to be filed with the secretary of state.
    (2)  If upon reviewing or examining the articles of incorporation as
hereinabove provided, the director or the attorney general finds that the
articles do not comply with this code or are not in accordance with the laws
of this state, or are inconsistent with the constitution of this state, as the
case may be, the director shall refuse to approve the articles and shall
return all originals of the articles to the incorporators accompanied by a
written statement of the defects in the articles or reasons upon which his
refusal is based.
    (3)  The secretary of state shall not permit the filing with him or in his
office of any such articles of incorporation unless the same bear the
director's approval endorsed thereon as hereinabove provided. The director's
approval, when so endorsed, shall be deemed to relate only to the form of the
articles of incorporation, and shall not be deemed to constitute an approval
or commitment by the director as to any other aspect or operation of the
proposed insurer.
    (4)  The director and the attorney general shall perform all duties
required of them under this section within a reasonable time after the
articles of incorporation have been submitted to the director as in subsection
(1) above provided.