2013 Idaho Statutes
Title 41 - INSURANCE
Chapter 36 - INSURANCE GUARANTY ASSOCIATION
Section 41-3609 - PLAN OF OPERATION -- APPROVAL -- ADOPTION OF INTERIM RULES BY DIRECTOR -- CONTENTS OF PLAN -- DELEGATION OF POWERS AND DUTIES -- REIMBURSEMENT OF DELEGATE CORPORATION OR ORGANIZATION.
(2) All member insurers shall comply with the plan of operation.
(3) The plan of operation shall:
(4) The plan of operation may provide that any or all powers and duties of the association, except those under sections 41-3608(1)(d) and 41-3608(2)(b), Idaho Code, are delegated to a corporation, association, or other organization which performs or will perform functions similar to those of this association, or its equivalent, in two (2) or more states. Such a corporation, association or organization shall be reimbursed as a servicing facility would be reimbursed and shall be paid for its performance of any other functions of the association. A delegation under this subsection shall take effect only with the approval of both the board of directors and the director, and may be made only to a corporation, association, or organization which extends protection not substantially less favorable and effective than that provided by this act.
History:
[41-3609, added 1970, ch. 152, sec. 9, p. 462; am. 1997, ch. 109, sec. 7, p. 261.]
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