Idaho Code 69-241 – Insurance — Cancellation Procedure — Suspension of License
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 69-241
- Department: means the Idaho state department of agriculture. See Idaho Code 69-202
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Person: means any individual, firm, association, corporation, partnership or limited liability company. See Idaho Code 69-202
- Receipt: means a warehouse receipt. See Idaho Code 69-202
- Termination: means the expiration of a warehouse license due to failure to meet minimum licensing requirements, failure to renew a warehouse license or as requested by the licensee, unless a complaint has been filed against the licensee alleging a violation of any provision of this chapter. See Idaho Code 69-202
With the existence of an effective policy of insurance as required by section 69-206(1), Idaho Code, the insurance company involved shall be required to give ninety (90) days’ advance notice to the department by registered or certified mail, return receipt requested, of cancellation of the policy. In the event of any cancellation, the department shall immediately terminate the license of such person without a hearing, and the termination shall be in effect until satisfactory evidence of the existence of an effective policy of insurance complying with the requirements of this chapter has been submitted to the department.