(1) The provisions of this chapter are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the director under such laws, including, but not limited to, chapter 33, title 41, Idaho Code, and rules adopted by the department of insurance relating to the director’s authority for companies deemed to be in hazardous financial condition.
(2)  The director may adopt reasonable rules necessary for the implementation of this chapter in accordance with the provisions of chapter 52, title 67, Idaho Code.

Terms Used In Idaho Code 41-5409

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Health organization: means any hospital service corporation or professional service corporation licensed under chapter 34, title 41, Idaho Code. See Idaho Code 41-5401
  • Insurer: means any insurance company authorized to transact insurance business in this state and includes a fraternal benefit society and a health organization unless the context otherwise requires. See Idaho Code 41-5401
  • Property: includes both real and personal property. See Idaho Code 73-114
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(3)  Upon written application, the director may exempt from compliance with this chapter, for a specified period or periods, any domestic property and casualty insurer, domestic managed care organization or domestic health organization which:
(a)  Writes direct business only in this state; and
(b)  Writes direct annual premiums of two million dollars ($2,000,000) or less; and
(c)  Assumes no reinsurance in excess of five percent (5%) of direct premium written; or
(d)  Is a managed care organization offering only a limited managed care plan, a hospital service corporation or a professional service corporation that covers less than two thousand (2,000) lives.