2016 Idaho Statutes
Title 41 - INSURANCE
Chapter 37 - IDAHO HOSPITAL LIABILITY TRUST ACT
Section 41-3718 - PROHIBITED PECUNIARY INTERESTS IN PLAN MANAGEMENT.

41-3718. Prohibited pecuniary interests in plan management. (1) No trustee, administrator, or other person having responsibility for the management of a hospital trust or the investment or other handling of trust funds shall:

(a) Receive directly or indirectly or be pecuniarily interested in any fee, commission, compensation, or emolument, other than salary or other similar compensation regularly fixed and allowed for services regularly rendered to the hospital trust, arising out of any transaction to which the trust fund is or is to be a party.

(b) Receive compensation as a consultant to the hospital trust while also acting as a trustee or administrator, or as an employee of either.

(c) Have any direct or indirect material pecuniary interest in any loan or investment of the trust fund.

(2) The director may, after reasonable notice and a hearing, require removal of a trustee or prohibit the trustee from employing or retaining or continuing to employ or retain any person in the administration of the trust fund or hospital trust upon finding that continuation of the trustee or such employment or retention involves a conflict of interest not in the best interests of the trust or adversely affecting interests of members.

History:

[41-3718, added 1977, ch. 204, sec. 2, p. 565.]