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2018 Idaho Statutes
Title 41 - INSURANCE
Chapter 3 - AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS
Section 41-331 - IMPAIRED INSURERS — LIABILITY OF OFFICERS.
Universal Citation: ID Code § 41-331 (2018)
41-331. IMPAIRED INSURERS — LIABILITY OF OFFICERS. The president and each director of a stock insurer who, after knowing that the insurer’s capital is impaired, permits or assents in the writing of new business by the insurer in this state during the existence of such impairment, shall, together with their respective estates, be severally and jointly liable for the amount of any loss or losses which may be incurred by the insured under any such new insurance.
History:
[41-331, added 1961, ch. 330, sec. 94, p. 645.]
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