Idaho State Statutes - Idaho Attorney Directory

(1) An order to rehabilitate the business
of a domestic insurer, or an alien insurer domiciled in this state, shall
appoint the director and his successors in office the rehabilitator, and shall
direct the rehabilitator forthwith to take possession of the assets of the
insurer, and to administer them under the general supervision of the court.
The filing or recording of the order with the clerk of the district court or
recorder of deeds of the county in which the principal business of the company
is conducted, or the county in which its principal office or place of business
is located, shall impart the same notice as a deed, bill of sale, or other
evidence of title duly filed or recorded with that recorder of deeds would
have imparted. The order to rehabilitate the insurer shall by operation of law
vest title to all assets of the insurer in the rehabilitator.
(2) Any order issued under this section shall require accounting to the
court by the rehabilitator. Accountings shall be at such intervals as the
court specifies in its order.
(3) Entry of an order of rehabilitation shall not constitute an
anticipatory breach of any contracts of the insurer.

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