reglab/housing_qa huggingface dataset:
ID Code § 41-731 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-731 - PROHIBITED INVESTMENTS AND INVESTMENT UNDERWRITING.

41-731. PROHIBITED INVESTMENTS AND INVESTMENT UNDERWRITING. (1) In addition to investments excluded under other provisions of this code, an insurer shall not directly or indirectly invest in or loan its funds upon the security of: (a) Issued shares of its own capital stock, except for the purpose of mutualization under section 41-2854, Idaho Code, or in connection with a plan approved by the director for purchase of such shares by the insurer’s officers, employees, or agents, or for other reasonable purposes under a plan filed with and approved by the director. No such stock shall, however, constitute an asset of the insurer in any determination of its financial condition. (b) Except with the director’s consent, any security issued by any corporation or enterprise the controlling interest of which is, or will after such acquisition by the insurer be, held directly or indirectly by the insurer or any combination of the insurer and the insurer’s directors, officers, parent corporation, subsidiaries, controlling stockholders, and the spouses and children of any of the foregoing individuals. Investments in subsidiaries under sections 41-706(2), 41-715 and 41-3803, Idaho Code, shall not be subject to this provision. (c) Any note or other evidence of indebtedness of any director, officer, or controlling stockholder of the insurer, or the spouse or child of any of the foregoing individuals, except as to policy loans authorized under section 41-718, Idaho Code. (d) Any investment or security which is found by the director to be designed to evade any prohibition of this chapter. (2) No insurer shall underwrite or participate in the underwriting of an offering of securities or property by any other person.  History: [41-731, added 1961, ch. 330, sec. 168, p. 645; am. 1969, ch. 214, sec. 25, p. 625; am. 1971, ch. 122, sec. 7, p. 408; am. 1993, ch. 194, sec. 10, p. 501; am. 2013, ch. 266, sec. 6, p. 680.]
ID Code § 41-732 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-732 - DOMESTIC RECIPROCAL INSURER.

41-732. DOMESTIC RECIPROCAL INSURER. Notwithstanding the provisions of chapter 1, title 57, Idaho Code, and section 67-2328, Idaho Code, funds of a domestic reciprocal insurer which is comprised of and exclusively insures members who are political subdivisions of the state, as defined in section 6-902(2), Idaho Code, and which exclusively insures against risk pertaining to property and casualty claims, shall be invested, reinvested and used in the manner and subject to the conditions, restrictions and limitations set forth in this chapter.  History: [41-732, added 2008, ch. 399, sec. 1, p. 1089.]
ID Code § 41-733 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-733 - SUBSIDIARY INVESTMENTS.

41-733. SUBSIDIARY INVESTMENTS. An insurer may invest in subsidiaries in accordance with section 41-3803, Idaho Code.  History: [I.C., sec. 41-733, as added by 1969, ch. 214, sec. 26, p. 625; am. 1971, ch. 122, sec. 8, p. 408; am. 1974, ch. 91, sec. 5, p. 1187; am. 1983, ch. 189, sec. 7, p. 513; am. 1993, ch. 194, sec. 11, p. 502; am. 2013, ch. 266, sec. 7, p. 681.]
ID Code § 41-734 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-734 - SEPARATE ACCOUNT FUNDS.

41-734. SEPARATE ACCOUNT FUNDS. (1) The amounts allocated to each separate account established by the insurer pursuant to any provision of the Idaho Insurance Code (separate accounts), together with accumulations thereon may be invested and reinvested in any class of investments which may be authorized in the written contract or agreement without regard to any requirements or limitations prescribed by this chapter. The investments in such separate account or accounts shall not be taken into account in applying the investment limitations applicable to other investments of the insurer. (2) Except with the approval of the director and under such conditions as to investments and other matters as he may prescribe, which shall recognize the guaranteed nature of the benefits provided, reserves for (a) benefits guaranteed as to dollar amount and duration and (b) funds guaranteed as to principal amount or stated rate of interest shall not be maintained in a separate account.  History: [I.C., sec. 41-734, as added by 1969, ch. 214, sec. 27, p. 625; am. 1971, ch. 272, sec. 1, p. 1078.]
ID Code § 41-735 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-735 - MISCELLANEOUS INVESTMENTS.

41-735. MISCELLANEOUS INVESTMENTS. (1) An insurer may loan or invest its funds in kinds of loans or investments not otherwise specifically made eligible for investment and not specifically prohibited or made ineligible by this or other provisions of the Idaho Code in an aggregate amount not exceeding the lesser of ten percent (10%) of an insurer’s assets, or seventy-five percent (75%) of an insurer’s capital and surplus excluding surplus notes. Investments under this subsection are limited to five percent (5%) of an insurer’s assets in a single investment or in a single entity, its affiliates, and subsidiaries as defined by the first six (6) digits of the committee on uniform security identification procedures (CUSIP) number. (2) The insurer shall keep a separate record of all investments acquired under this section.  History: [I.C., sec. 41-735, as added by 1975, ch. 207, sec. 2, p. 575; am. 1983, ch. 189, sec. 8, p. 514; am. 2019, ch. 112, sec. 3, p. 371.]
ID Code § 41-736 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-736 - PERMITTED INVESTMENTS.

41-736. PERMITTED INVESTMENTS. Subject to other limitation in chapter 7, title 41, Idaho Code, an insurer shall not invest or have invested at any one time more than sixty-five percent (65%) of its assets in investments described in sections 41-721 and 41-728, Idaho Code. Any insurer which, on July 1, 2003, has in excess of sixty-five percent (65%) of its assets so invested shall not make any further such investments while the excess exists. The limitations prescribed in this section shall not apply to mortgage-backed securities rated one or two by the securities valuation office (SVO) of the national association of insurance commissioners or to mortgage-backed securities which qualify as provisionally exempt from filing with the SVO.  History: [41-736, added 2003, ch. 163, sec. 2, p. 460.]
ID Code § 41-801 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-801 - AUTHORIZED DEPOSITS OF INSURERS.

41-801. AUTHORIZED DEPOSITS OF INSURERS. The following deposits of insurers when made through the director shall be accepted and held, and shall be subject to the applicable provisions of this chapter: (1) Deposits required under this code for authority to transact insurance in this state. (2) Deposits of domestic insurers when made pursuant to the laws of other states, provinces and countries as requirement for authority to transact insurance in such state, province or country. (3) Deposits in such additional amounts as are permitted to be made under section 41-808[, Idaho Code,] (excess deposits).  History: [41-801, added 1961, ch. 330, sec. 170, p. 645.]
ID Code § 41-802 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-802 - PURPOSE OF DEPOSIT.

41-802. PURPOSE OF DEPOSIT. Such deposits shall be held for purposes as follows: (1) Deposits made in this state under sections 41-316, Idaho Code, (foreign and alien insurance deposit requirements), and 41-316A, Idaho Code, (domestic insurance deposit requirements), shall be held for the purposes stated in the respective sections. (2) A deposit made in this state by a domestic insurer transacting insurance in another state, province or country, and as required by the laws of such state, province or country, shall be held for the purpose or purposes specified pursuant to such laws. (3) Deposits of foreign insurers required pursuant to the retaliatory provision, section 41-340, Idaho Code, shall be held for such purposes as are required by such law, and as specified by the director’s order by which the deposit is required.  History: [41-802, added 1961, ch. 330, sec. 171, p. 645; am. 1994, ch. 240, sec. 8, p. 756; am. 2004, ch. 90, sec. 4, p. 328.]
ID Code § 41-803 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-803 - SECURITIES ELIGIBLE FOR DEPOSIT.

41-803. SECURITIES ELIGIBLE FOR DEPOSIT. (1) All such deposits required under sections 41-316 and 41-316A, Idaho Code, for authority to transact insurance in this state shall consist of certificates of deposit issued by solvent banks, or any combination of securities the market value of which is readily ascertainable and, if negotiable by delivery or assignment, of the kinds described in the following sections: (a) Section 41-707 (public obligations); (b) Section 41-708 (securities of certain federal agencies); (c) Section 41-709 (irrigation district obligations); (d) Section 41-710 (international bank); (e) Section 41-711 (corporate obligations); (f) Section 41-717 (equipment trust obligations); and (g) Section 41-720 (savings and share accounts). (2) Except that the director shall accept as a security eligible for deposit and recognize as part of the deposit any particular valid and enforceable real estate mortgage already lawfully so on deposit at the effective date of this code, so long as the mortgage continues to qualify for investment of the insurer’s funds therein as under chapter 7 of this code and is not in default in any particular. (3) All such deposits required of a domestic insurer pursuant to the laws of another state, province or country shall be comprised of securities, if negotiable by delivery or assignment, of the kind or kinds required or permitted by the laws of such state, province or country, except stocks, mortgages of any kind and real estate. (4) Deposits of foreign insurers made in this state under the retaliatory provision, section 41-340, Idaho Code, shall consist of such securities or assets as are required by the director pursuant to such provision.  History: [41-803, added 1961, ch. 330, sec. 172, p. 645; am. 1994, ch. 240, sec. 9, p. 756; am. 2004, ch. 90, sec. 5, p. 328.]
ID Code § 41-804 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-804 - CUSTODIAL ARRANGEMENTS FOR DEPOSITS.

41-804. CUSTODIAL ARRANGEMENTS FOR DEPOSITS. (1) All deposits of insurers made in this state under this code shall be made through the director. (2) The deposits shall be made with and held by the trust department of an established bank located in Idaho, approved by the director for the purpose, and under custodial arrangements likewise approved by him. All such custodial arrangements shall comply in substance with the requirements of this code as to the amount, purposes, maintenance, initial amounts, release and withdrawal of such a deposit, and as to the rights of the insurer therein. (3) The securities qualified for deposit under this chapter may be deposited with a clearing corporation or held in the federal reserve book-entry system. Securities deposited with a clearing corporation or held in the federal reserve book-entry system and used to meet the deposit requirements set forth in this chapter shall be under the control of the director of the department of insurance and shall not be withdrawn by the insurer without the approval of the director. Any insurer holding securities in such manner shall provide evidence satisfactory to the director, issued by its custodian or member bank through which such insurer has deposited such securities in a clearing corporation or through which such securities are held in the federal reserve book-entry system, respectively, in order to establish that the securities are actually recorded in an account in the name of the custodian or other direct participant or member bank, and that the records of the custodian, other participant or member bank reflect that such securities are held subject to the order of the director. Definitions contained in section 41-2870, Idaho Code, shall apply to this subsection (3). (4) The cost of any such custodial arrangements shall be borne by the insurer. The state of Idaho shall have no responsibility for the safekeeping of the deposit.  History: [41-804, added 1961, ch. 330, sec. 173, p. 645; am. 1969, ch. 214, sec. 28, p. 625; am. 1981, ch. 174, sec. 3, p. 308; am. 2004, ch. 90, sec. 6, p. 329.]
ID Code § 41-805 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-805 - RECORDS — CERTIFICATE OF DEPOSIT.

41-805. RECORDS — CERTIFICATE OF DEPOSIT. (1) The director shall maintain complete record of all securities deposited through him under this chapter, and of all transactions involving any such deposit. (2) Upon request of the insurer and payment of the fee therefor required under section 41-401 (fee schedule), the director shall furnish to the insurer his certificate under his official seal certifying as to any deposit of the insurer held by him under this code, and as to the amount, composition, and purposes of the deposit.  History: [41-805, added 1961, ch. 330, sec. 174, p. 645.]
ID Code § 41-806 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-806 - ASSIGNMENT OF SECURITIES.

41-806. ASSIGNMENT OF SECURITIES. (1) The insurer shall duly assign to the director and his successors in office in trust all securities being deposited through him under this code which are not negotiable by delivery; or, in lieu of such assignment, the insurer may give the director an irrevocable power of attorney authorizing him to transfer the securities or any part thereof for any purpose within the scope of this chapter. (2) Upon release to the insurer, or other person entitled thereto, of any such security the director shall reassign the same to such insurer or person; or, in the case of power of attorney given pursuant to subsection (1) above, he shall deliver the power of attorney, together with the securities covered thereby, to the insurer or person entitled thereto.  History: [41-806, added 1961, ch. 330, sec. 175, p. 645.]
ID Code § 41-807 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-807 - APPRAISAL.

41-807. APPRAISAL. The director may, in his discretion, prior to acceptance for deposit of any particular asset or security, or at any time thereafter while so deposited, have the same appraised or valued by competent appraisers. The reasonable costs of any such appraisal or valuation shall be borne by the insurer.  History: [41-807, added 1961, ch. 330, sec. 176, p. 645.]
ID Code § 41-808 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-808 - EXCESS DEPOSITS.

41-808. EXCESS DEPOSITS. (1) If securities or assets deposited by an insurer under this chapter are subject to material fluctuations in market value, the director may, in his discretion, require the insurer to deposit and maintain on deposit additional securities or assets in such amount as may be reasonably necessary to assure that the deposit will at all times have a market value of not less than the amount specified under or pursuant to the law by which the deposit is required. (2) If not so required by the director, an insurer may at its option so deposit assets or securities in an amount exceeding its deposit required or otherwise permitted under this code by not more than twenty per cent (20%) of such required or permitted deposit, or twenty thousand dollars ($20,000), whichever is the larger amount, for the purpose of absorbing fluctuations in the value of securities and assets deposited, and to facilitate the exchange and substitution of such securities and assets. During the solvency of the insurer any such excess shall be released to the insurer upon its request. During the insolvency of the insurer, such excess deposit shall be released only as provided in section 41-812(2)(e)[, Idaho Code].  History: [41-808, added 1961, ch. 330, sec. 177, p. 645.]
ID Code § 41-809 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-809 - RIGHTS OF INSURER DURING SOLVENCY.

41-809. RIGHTS OF INSURER DURING SOLVENCY. So long as the insurer remains solvent and is in compliance with this code it may: (1) Demand, receive, sue for and recover the income from the securities or assets deposited; (2) Exchange and substitute for the deposited securities or assets, or any part thereof, other eligible securities and assets of equivalent or greater value; and (3) At any reasonable time inspect any such deposit.  History: [41-809, added 1961, ch. 330, sec. 178, p. 645.]
ID Code § 41-811 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-811 - DEFICIENCY OF DEPOSIT.

41-811. DEFICIENCY OF DEPOSIT. (1) For the purpose of determining the sufficiency of its deposit in this state the assets and securities of the insurer on deposit shall be valued at current market value. (2) If for any reason the current market value of such assets and securities falls below the amount of deposit required of the insurer under this code, the insurer shall promptly deposit other or additional assets or securities eligible for deposit and in amount sufficient to cure the deficiency. If the insurer has failed to cure the deficiency within thirty (30) days after receipt of notice thereof by registered or certified mail from the director, the director shall forthwith without further notice revoke the insurer’s certificate of authority.  History: [41-811, added 1961, ch. 330, sec. 180, p. 645.]
ID Code § 41-812 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-812 - DURATION AND RELEASE OF DEPOSIT.

41-812. DURATION AND RELEASE OF DEPOSIT. (1) Every deposit made in this state by an insurer pursuant to this code shall be so held as long as there is outstanding any liability of the insurer as to which the deposit was required; or, if the deposit was required under the retaliatory provision, section 41-340, Idaho Code, the deposit shall be held for so long as the basis of such retaliation exists. (2) Except for good cause found by the director after a hearing thereon, any such deposit shall be released and returned: (a) To the insurer upon extinguishment by reinsurance or otherwise of all liability of the insurer for the security of which the deposit is held. If by reinsurance, the assuming insurer shall be one authorized to transact such insurance in this state. (b) To the insurer, during solvency, to the extent such deposit is in excess of the amount required. (c) To a depositing foreign or alien insurer, during its solvency, which has made a similar deposit in another state and has filed with the director the certificate or evidence thereof, under the conditions provided for in section 41-316(2)(b) or 41-316(2)(c), Idaho Code. (d) To the resulting or surviving corporation or to such person as it may designate for the purpose, upon effectuation of a merger or consolidation of the depositing insurer, and upon the resulting or surviving corporation being or becoming authorized to transact insurance in this state. (e) Upon order of a court of competent jurisdiction, to the receiver, conservator, rehabilitator, or liquidator of the insurer, or to any other properly designated official or officials who succeed to the management and control of the insurer’s assets pursuant to delinquency proceedings brought against the insurer under chapter 33 of this code. (3) Notwithstanding the provisions of subsections (1) and (2) of this section, the director, in his discretion, may release a deposit made in this state by an insurer pursuant to this code if the insurance regulatory body in the insurer’s state has been appointed the liquidator of the insurer by a court in that state and either of the following applies: (a) The director has no information or belief that there are any outstanding claims against the insurer by policyholders or creditors of the insurer in Idaho; or (b) The director believes that any claims by Idaho policyholders or creditors will be adequately protected pursuant to the liquidation proceedings in the insurer’s domestic state.  History: [41-812, added 1961, ch. 330, sec. 181, p. 645; am. 1995, ch. 289, sec. 4, p. 973.]
ID Code § 41-813 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 8 - ADMINISTRATION OF DEPOSITS|Section 41-813 - PROOFS FOR RELEASE OF DEPOSIT TO INSURER — DIRECTOR’S RESPONSIBILITY.

41-813. PROOFS FOR RELEASE OF DEPOSIT TO INSURER — DIRECTOR’S RESPONSIBILITY. (1) Before authorizing or permitting the release of any deposit or excess portion thereof to the insurer, as provided in section 41-812, Idaho Code, the director shall require the insurer, the applicable insurance regulatory official in the insurer’s domestic state, or other appropriate entity to file with him a written statement in such form and with such verification as he deems advisable setting forth the facts upon which it bases its entitlement to such release. (2) If release of the deposit is claimed by the insurer upon the ground that all its liabilities, as to which the deposit was held, have been assumed by another insurer authorized to transact insurance in this state, the insurer shall file with the director a copy of the contract or agreement of such reinsurance duly attested under the oath of an officer of each of the insurers parties thereto. (3) If release of the deposit is claimed by a domestic insurer upon the ground that all its liabilities, as to which the deposit was held, have been terminated other than by reinsurance, the director shall make an examination of the affairs of the insurer for determination of the actuality of such termination. (4) Upon being satisfied by such statement and reinsurance contract, or examination of the insurer if required under subsection (3) above, and by such other examination if any, of the affairs of the insurer as he deems advisable to make, that the insurer is entitled to the release of its deposit or excess portion thereof as provided in section 41-812, Idaho Code, the director shall release the deposit or excess portion thereof to the insurer or its authorized representative. (5) If the director wilfully fails faithfully to keep, deposit, account for or surrender any such assets or securities deposited through him, in the manner as authorized or required under this chapter, he shall be liable therefor upon his official bond, and suit may be brought upon the bond by any person injured by such failure. The director shall not, however, have any liability as to any assets or securities of an insurer released by him in good faith pursuant to the authority vested in him under this chapter.  History: [41-813, added 1961, ch. 330, sec. 182, p. 645; am. 1995, ch. 289, sec. 5, p. 974.]