Idaho State Statutes - Idaho Attorney Directory

(1) Any amendment to the plan
of operation prepared by the administrator for the purpose of deferring the
issuance of contracts of insurance to any category of petroleum storage tank
owners or operators or for issuing contracts of insurance to any deferred
category of petroleum storage tank owners or operators shall be submitted to
the director of the department of insurance.
(2) The director shall review the amendment and shall, with all
reasonable promptness, approve, approve as modified, or disapprove of the
amendment to the plan of operation. If the amendment is approved, the
administrator may issue contracts of insurance and otherwise operate the trust
fund in a manner consistent with the amended plan of operation. If the
amendment is disapproved, the administrator must operate the trust fund in a
manner consistent with the provisions of the plan of operation as submitted to
the director in the trust fund's application for registration under section
41-4925, Idaho Code.
(3) The director may request such relevant documentation and information,
including an actuarial analysis of the underwriting capacity of the trust
fund, as is reasonably necessary to evaluate the proposed amendment to the
plan of operation.
(4) All procedures and policies concerning the approval, modification or
disapproval of any amendment to the plan of operation are subject to the
provisions of chapter 52, title 67, Idaho Code, as well as the rules of
practice and procedure of the department of insurance.

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