41-4801 Short Title
41-4802 Purpose
41-4803 Definitions
41-4804 Risk Retention Groups Chartered in This State
41-4805 Risk Retention Groups Not Chartered in This State
41-4806 Compulsory Associations
41-4807 Counter Signatures Not Required
41-4808 Purchasing Groups — Exemption From Certain Laws Relating to the Group Purchase of Insurance
41-4809 Notice and Registration Requirements of Purchasing Groups
41-4810 Restrictions On Insurance Purchased by Purchasing Groups
41-4811 Administrative and Procedural Authority Regarding Risk Retention Groups and Purchasing Groups
41-4812 Penalties
41-4813 Duty of Agents or Brokers to Obtain License
41-4814 Binding Effect of Orders Issued in U.S. District Courts
41-4815 Rules and Regulations
41-4816 Purchasing Group Taxation

Terms Used In Idaho Code > Title 41 > Chapter 48 - Risk Retention Groups

  • Completed operations liability: means liability arising out of the installation, maintenance or repair of any product at a site which is not owned or controlled by:
Idaho Code 41-4803
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Director: means the director of the department of insurance of this state or the director, commissioner, or superintendent of the department of insurance of any other state. See Idaho Code 41-4803
  • Hazardous financial condition: means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able:
    • Idaho Code 41-4803
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, or any other arrangement for shifting and distributing risk which is determined to be insurance under this code. See Idaho Code 41-4803
  • Jurisdiction: (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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liability: means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses because of injuries to other persons, damage to their property, or other damage or loss to such other persons resulting from or arising out of any business whether profit or nonprofit, trade, product, services including professional services, premises, or operations, or arising out of any activity of any state or local government, or any agency or political subdivision thereof, but does not include personal risk liability or with the exception of an employer’s legal liability with respect to its employees under the federal employers’ liability act (45 U. See Idaho Code 41-4803
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • person: includes a corporation as well as a natural person;
    • Idaho Code 73-114
  • Personal risk liability: means liability for damages because of injury to any person, damage to property, or other loss or damage resulting from any person, familial, or household responsibilities or activities apart from responsibilities or activities referred to in subsection (6) of this section. See Idaho Code 41-4803
  • Plan of operation or feasibility study: means an analysis which presents the expected activities and results of a risk retention group, including, at a minimum:
    • Idaho Code 41-4803
  • Product liability: means liability for damages because of any personal injury, death, emotional harm, consequential economic damage or property damage (including damages resulting from the loss of use of property) arising out of the manufacture, design, importation, distribution, packaging, labeling, lease, or sale of a product, but does not include the liability of any person for those damages if the product involved was in the possession of such a person when the incident giving rise to the claim occurred. See Idaho Code 41-4803
  • Property: includes both real and personal property. See Idaho Code 73-114
  • Purchasing group: means any group which:
    • Idaho Code 41-4803
  • Risk retention group: means any corporation or other limited liability association:
    • Idaho Code 41-4803
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: means any state of the United States or the District of Columbia. See Idaho Code 41-4803