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(1) There is hereby created an account in the agency asset fund in the state treasury, to be designated the “arson, fire and fraud prevention account.” The account shall be used by the director of the department of insurance for enforcement of this act, investigation of alleged cases of arson, fraud and related alleged violations of the laws of this state, and prevention of fire, explosions and other conditions necessary for the public safety, health, peace and welfare.
(2) In addition to moneys, if any, appropriated to the account by the legislature, the director shall deposit with the state treasurer for credit to the arson, fire and fraud prevention account:
(a) Penalties collected under the provisions of sections 41-261 and 41-263, Idaho Code;
(b) That portion of the annual continuation fee as determined by the director pursuant to subsection (3) of this section;
(c) Other moneys now or hereinafter in the state fire prevention account;
(d) Other moneys or revenues derived from whatever source for arson or fraud investigation or fire prevention.
(3) A portion of the annual continuation fee, as determined by the director, will be used to fund the arson, fire and fraud account.
(4) All claims against the account shall be examined, audited and allowed in the manner now or hereafter provided by law.
(5) All moneys placed in the account are hereby perpetually appropriated to the department of insurance for the purposes of the provisions of this section.
(6) Pending use for purposes of the provisions of this section, moneys in the account shall be invested by the state treasurer in the same manner as provided under section 67-1210, Idaho Code, with respect to other surplus or idle moneys in the state treasury. Interest earned on the investments shall be returned to the account.
Cite this article: FindLaw.com - Idaho Statutes Title 41. Insurance § 41-268. Arson, fire and fraud prevention account - last updated January 01, 2020 | https://codes.findlaw.com/id/title-41-insurance/id-st-sect-41-268/
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