Idaho Code § 41-2824

Current through Chapter 330 of the 2024 Regular Legislative Session
Section 41-2824 - FORMATION OF MUTUALS - FAILURE TO QUALIFY

If the proposed domestic mutual insurer fails to complete its organization and to secure its original certificate of authority within one (1) year from and after date of its certificate of incorporation, the corporation shall transact no further business, and the director shall return or cause to be returned to the persons entitled thereto all advance deposits or payments of premiums held in trust under section 41-2823.

Idaho Code § 41-2824

[41-2824, added 1961, ch. 330, sec. 592, p. 645.]