Idaho State Statutes - Idaho Attorney Directory

(1) If the assets of the trust fund are at
any time insufficient to discharge its liabilities, and to maintain the
required surplus, the administrator shall forthwith request authority from the
director to make up the deficiency by borrowed surplus or other subordinated
indebtedness.
(2) If the director finds that future estimated revenues from the
transfer fees imposed under section 41-4909, Idaho Code, are not sufficient to
justify any borrowed surplus funds or other subordinated indebtedness, then
the director shall request the administrator to submit a plan of action
whereby priority is given to the payment of cleanup costs of petroleum
discharges that constitute a clear and present danger to persons or property,
including discharges into underground or surface water that may seriously
contaminate the water used for domestic and commercial use, agricultural
products, livestock, fish, game and other wildlife. Consideration shall be
given in this plan of action to establishing a claim payment priority based on
the severity of the contamination, the possible endangerment of life and
health including, but not limited to, possible toxic fumes, fire and explosion
hazards, economic impact, population density, and the need for immediate
cleanup action versus action that can be delayed with only minimal adverse
effects. This plan of action shall also establish similar criteria for the
prioritization of the payment of bodily injury and property damage claims.
(3) Upon receiving this plan of action, the director shall promptly hold
a public hearing with appropriate notice to determine any possible adverse
effects of the plan of action on the owners or operators of insured tanks, the
claimants and potential claimants, and the environment. After giving due
consideration to the testimony of those parties affected by the proposed plan
of action, the director shall either approve or disapprove the plan in
writing, stating the reasons therefor, so that a plan of action that does meet
with the director's approval can be placed into effect with due diligence and
dispatch.
(4) Upon receiving the director's approval of the plan of action, the
administrator shall promptly commence the prioritization of claims and pay
such valid and compensable claims according to this priority as funds become
available from collection of the transfer fees.

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