41-802. PURPOSE OF DEPOSIT. Such deposits shall be held for purposes as follows:
(1) Deposits made in this state under sections 41-316, Idaho Code, (foreign and alien insurance deposit requirements), and 41-316A, Idaho Code, (domestic insurance deposit requirements), shall be held for the purposes stated in the respective sections.
(2) A deposit made in this state by a domestic insurer transacting insurance in another state, province or country, and as required by the laws of such state, province or country, shall be held for the purpose or purposes specified pursuant to such laws.
(3) Deposits of foreign insurers required pursuant to the retaliatory provision, section 41-340, Idaho Code, shall be held for such purposes as are required by such law, and as specified by the director’s order by which the deposit is required.
History:
[41-802, added 1961, ch. 330, sec. 171, p. 645; am. 1994, ch. 240, sec. 8, p. 756; am. 2004, ch. 90, sec. 4, p. 328.]
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