Idaho Code § 41-2509

Current through the 2024 Regular Session

Section 41-2509 - CANCELLATIONS AND NONRENEWAL - EXCEPTIONS TO

Nothing contained in sections 41-2506 through 41-2512 of this act shall be construed to prevent the cancellation or nonrenewal of any such insurance where:

(1) Cancellation or nonrenewal is ordered under or in connection with a statutory delinquency proceeding commenced against the insurer under chapter 33 (rehabilitations and liquidations), Idaho Code, or

(2) Cancellation or nonrenewal has been consented to by the director on a showing that continuation of such insurance can reasonably be expected to create a condition in the insurer hazardous to its policyholders, or to its creditors, or to its members, subscribers, or stockholders, or to the public.

Idaho Code § 41-2509

[I.C., sec. 41-2509, as added by 1969, ch. 214, sec. 62, p. 625.]