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State Statutes
- Idaho
- Title 41
- Chapter 33
- 41-3306
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| Idaho Statutes |
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| 41-3306 - COOPERATIONS OF OFFICERS, OWNERS, AND EMPLOYEES |
(1) Any
officer, manager, director, trustee, owner, employee, or agent of any insurer,
or any other persons with authority over or in charge of any segment of the
insurer's affairs, shall cooperate with the director in any proceeding under
this act or any investigation preliminary to the proceeding. The term
"person," as used in this section, shall include any person who exercises
control directly or indirectly over activities of an insurer through any
holding company or other affiliate of the insurer. "To cooperate" shall
include, but shall not be limited to, the following:
(a) To reply promptly in writing to any inquiry from the director
requesting such a reply; and
(b) To make available to the director any books, accounts, documents, or
other records or information or property of or pertaining to the insurer
and in his possession, custody or control.
(2) No person shall obstruct or interfere with the director in the
conduct of any delinquency proceeding or any investigation preliminary or
incidental thereto.
(3) This section shall not be construed to abridge otherwise existing
legal rights, including the right to resist a petition for liquidation or
other delinquency proceedings, or other orders.
(4) Any person included within subsection (1) of this section who fails
to cooperate with the director, or any person who obstructs or interferes with
the director in the conduct of any delinquency proceeding or any investigation
preliminary or incidental thereto, or who violates any order the director
issued validly under this act may:
(a) Be sentenced to pay a fine not exceeding ten thousand dollars
($10,000) or to undergo imprisonment for a term of not more than one (1)
year, or both; or
(b) After a hearing, be subject to the imposition by the director, of a
civil penalty not to exceed ten thousand dollars ($10,000) and shall be
subject further to the revocation or suspension of any insurance licenses
issued by the director. |
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