41-3713 RESERVES. - Idaho Statutes

TITLE 41

INSURANCE

CHAPTER 37

IDAHO HOSPITAL LIABILITY TRUST ACT

41-3713. Reserves. (1) A hospital trust shall establish and maintain the following reserves or financial resources, including but not limited to, bank credit:

(a) An amount sufficient for payment of claims against the trust fund, including both claims reported and not yet paid and claims incurred but not yet reported.

(b) An amount for unearned contributions as computed pro rata on the basis of the unexpired portion of the period for which the contribution has been paid.

(c) An amount adequate under reasonable estimates for payment of all claims, claims adjustment expenses, taxes, expenses and other obligations.

(2) In any determination of the financial condition of the trust fund, the reserves or financial resources relating to subsections (a), (b) and (c) above shall constitute liabilities.