Idaho State Statutes - Idaho Attorney Directory

(1) Nothing
in section 41-337, Idaho Code, shall be construed as preventing the free and
unlimited right to negotiate wholly outside of this state contracts of
insurance by licensed nonresident agents or brokers, provided the policies,
endorsements or evidence of insurance covering properties or insurable
interests in this state are countersigned by a resident agent of this state,
in which event the countersigning agent shall receive a commission of not less
than five per cent (5%) of the premium paid or one-third (1/3) of the
commission paid to the licensed nonresident agent or broker, whichever is
less; provided, however, the payment to the countersigning agent shall not
exceed the sum of two hundred fifty dollars ($250) per policy, and when the
countersigning commission to be paid is less than five dollars ($5.00), the
countersigning agent may waive any commission due him.
(2) Section 41-337, Idaho Code, shall not apply to the following
contracts:
(a) Life insurance and annuities;
(b) Disability insurance;
(c) Title insurance; countersignature of title insurance policies is as
provided in section 41-2702, Idaho Code;
(d) Policies covering property in transit while in the possession or
custody of any common carrier, or the rolling stock or other property of
any common carrier used and employed by it as a common carrier of freight
or passengers, or both;
(e) Reinsurance or retrocessions made by or for authorized insurers;
(f) Contracts issued by domestic reciprocal insurers writing workmen's
compensation for employers commonly known as self-insurers; nor, with
respect to countersignature, to policies issued by a reciprocal insurer
not using agents compensated by commissions in the general solicitation of
business;
(g) Bid bonds issued by a surety insurer in connection with any public or
private contract; or
(h) Ocean marine insurance.
(3) Notwithstanding section 41-337, Idaho Code, and the provisions of
subsection (1) of this section, if the law of another state does not require
the countersignature of a licensed agent who resides in that state for
policies and contracts of insurance or indemnity made, written or placed in
that state by a licensed agent who resides in the state of Idaho, the
countersignature of a licensed agent who resides in the state of Idaho is not
required for policies and contracts of insurance or indemnity made, written or
placed in the state of Idaho by a licensed agent who resides in that other
state.

Click here to visit the Official Idaho State Statutes