58-29A INSURANCE GUARANTY ASSOCIATION
INSURANCE GUARANTY ASSOCIATION
58-29A-1 to 58-29A-53.
Scope of application of chapter.
Definition of terms.
Creation of association--Membership--Exercise of powers.
Board of directors--Appointment and terms of members--Vacancies on
Representation of member insurers on board--Domestic insurers.
Reimbursement of director's expenses.
General corporate powers of association.
Tax exemption of association.
Notice to director of indications of member insolvency.
Examination of insurer on request by board--Cost of examination--Handling
Insolvency or hazardous condition reported to board of directors.
Recommendations for detection and prevention of insolvencies.
Recommendations on improving regulation for solvency.
Report by directors on history and causes of insolvency.
Obligation of association on claims against insolvent insurer--Deductible and
Association deemed insurer to extent of obligations on covered claims.
Investigation, adjustment, and payment or denial of claims--Review of
previous settlements, releases, and judgments.
Transfer or recovery of claim from certain covered persons.
Means of handling claims--Designation of servicing facility.
Reimbursement of servicing facility--Payment of other expenses.
Separate accounts for administration and assessment.
Allocation of claims, expenses, and assessments to separate accounts--Operating expenses excepted.
Administrative assessments for operating expenses.
Apportionment of assessments among members--Notice of assessment.
Maximum assessment in relation to net premiums.
Offset of payments and expenses against assessment due.
Exemption or deferment of assessments to avoid impairment of capital or
Proration of payments when assets insufficient for full payment.
Refund of surplus to member insurers.
Plan of operation submitted to director--Approval.
Required contents of plan of operation.
Compliance with plan of operation--Violation as misdemeanor.
Delegation of functions to interstate organization--Reimbursement of
organization--Approval of delegation.
Director's rules promulgated in lieu of amendments to plan of operation.
Notice to association of insolvency of insurer.
Statement of members' premiums furnished to association.
Stay of default proceedings against insolvent insurer--Setting aside of prior
Suspension or revocation of certificate of authority for failure to pay
assessment or comply with plan--Fine as alternative.
Revocation of designation of servicing facility.
Duplicate coverage--Insured to exhaust rights against solvent insurer.
Duplicate coverage by insolvent insurers--Factors governing primary
Subrogation of association to rights of claimant.
Restrictions on liability of insured to association.
Liability of insureds for unpaid assessments.
Settlements by association binding on successor of insolvent insurer--Priority
of claim and expenses.
Association's statements of claims paid filed with receiver or liquidator.
Examination and regulation of association--Annual report.
Immunity from liability of persons acting under chapter.
Judicial review of director's actions.
Premiums to include amounts sufficient for assessments.
Unfair trade practice to advertise protection given by chapter.
Payment of claims to be made in any reasonable order.
Association to be recognized as claimant in liquidation of insolvent insurer--Priority of distribution.
Insolvent insurer's records to be made available to board.
Jurisdiction over claims against association.
Citation of chapter.