2005 Idaho Code - 41-3323 — DUTIES OF AGENTS

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 33
                            INSURERS SUPERVISION,
                        REHABILITATION AND LIQUIDATION
    41-3323.  DUTIES OF AGENTS. (1) Every person who receives notice in the
form prescribed in section 41-3322, Idaho Code, that an insurer which he
represents as an agent is the subject of a liquidation order, shall within
fifteen (15) days of such notice give notice of the liquidation order. The
notice shall be sent by first class mail to the last address contained in the
agent's records to each policyholder or other person named in any policy
issued through the agent by the insurer, if he has a record of the address of
the policyholder or other person. A policy shall be deemed issued through an
agent if the agent has a property interest in the expiration of the policy, or
if the agent has had in his possession a copy of the declarations of the
policy at any time during the life of the policy, except where the ownership
of the expiration of the policy has been transferred to another. The written
notice shall include the name and address of the insurer, the name and address
of the agent, identification of the policy impaired and the nature of the
impairment including termination of coverage, as described in section 41-3319,
Idaho Code. Notice by a general agent satisfies the notice requirement for any
agents under contract to him. Each agent obligated to give notice under the
provisions of this section shall file a report of compliance with the
liquidator.
    (2)  Any agent failing to give notice or file a report of compliance as
required in subsection (1) of this section may be subject to payment of a
penalty of not more than one thousand dollars ($1,000) and may have his
license suspended, said penalty to be imposed after a hearing held by the
director.
    (3)  The liquidator may waive the duties imposed by this section if he
determines that other notice to the policyholders of the insurer under
liquidation is adequate.