Idaho Code > Title 41 > Chapter 12 – Unauthorized Insurers and Surplus Lines
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Terms Used In Idaho Code > Title 41 > Chapter 12 - Unauthorized Insurers and Surplus Lines
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Affiliated: means , with respect to an insured, any entity that controls, is controlled by or is under common control with the insured. See Idaho Code 41-1213
- Affiliated group: means any group of entities that are all affiliated. See Idaho Code 41-1213
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Broker: means a surplus line broker duly licensed as such under this chapter, including resident surplus line brokers and nonresident surplus line brokers. See Idaho Code 41-1213
- commercial insurance: means property and casualty insurance pertaining to a business, profession, occupation, nonprofit organization or public entity. See Idaho Code 41-1213
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Contract: A legal written agreement that becomes binding when signed.
- Control: means :
Idaho Code 41-1213Conviction: A judgement of guilt against a criminal defendant. 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. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Exempt commercial purchaser: means any person purchasing commercial insurance who, at the time of placement, meets the following requirements:
Idaho Code 41-1213Export: means to place in an unauthorized insurer under this surplus line law insurance covering a subject of insurance resident, located, or to be performed in Idaho. See Idaho Code 41-1213 Home state: means :
Idaho Code 41-1213Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Oversight: Committee review of the activities of a Federal agency or program. person: includes a corporation as well as a natural person;
Idaho Code 73-114Plaintiff: The person who files the complaint in a civil lawsuit. principal place of business: means the state where the insured maintains its headquarters and where the insured’s high level officers direct, control and coordinate the business activities of the insured. See Idaho Code 41-1213 Property: includes both real and personal property. See Idaho Code 73-114 Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. Qualified risk manager: means , with respect to a policyholder of commercial insurance, a person who meets all of the following requirements:
Idaho Code 41-1213Registered mail: includes certified mail. See Idaho Code 73-114 Service of process: The service of writs or summonses to the appropriate party. 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 Statute: A law passed by a legislature.