(1) Any person in whose name more than twenty-five (25) motor vehicles are registered and titled in Idaho, or engaged in the operation of a railroad, street railway system or public utility subject to the regulation of the public utilities commission irrespective of the number of vehicles registered, may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the department.
(2)  The department may, in its discretion, issue a certificate of self-insurance and certificate of liability insurance in a form as the department prescribes when the department is satisfied that the person is possessed and will continue to be possessed of ability to pay judgments obtained against that person upon application, and providing a statement by a certified public accountant attesting the applicant’s net worth is five hundred thousand dollars ($500,000), a list of vehicles and an application fee of seventy dollars ($70.00) which shall be deposited in the state highway account.

Terms Used In Idaho Code 49-1224

  • person: includes a corporation as well as a natural person;
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)  The self-insurer will be required to submit an annual financial statement showing net worth of five hundred thousand dollars ($500,000), a list of vehicles and a seventy dollar ($70.00) issue fee to be deposited in the state highway account.
    (4)  Upon not less than five (5) days’ notice and a hearing pursuant to the notice, the department may upon reasonable grounds cancel a certificate of self-insurance. Failure to pay any judgment within thirty (30) days after a judgment shall have become final shall constitute a reasonable ground for the cancellation of a certificate of self-insurance.