reglab/housing_qa huggingface dataset:
ID Code § 41-405 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 4 - FEES AND TAXES|Section 41-405 - PREMIUM TAX IN LIEU OF OTHER TAXES — LOCAL TAXES PROHIBITED.

41-405. PREMIUM TAX IN LIEU OF OTHER TAXES — LOCAL TAXES PROHIBITED. (1) Payment to the director by an insurer of the tax upon its premiums as in this chapter required, shall be in lieu of all other taxes upon premiums, taxes upon income, franchise or other taxes measured by income, and upon the personal property of the insurer and the shares of stock or assets thereof; provided, that all real property, if any, of the insurer shall be listed, assessed and taxed the same as real property of like character of individuals. (2) The state of Idaho hereby preempts the field of imposing excise, privilege, franchise, income, license, permit, registration, and similar taxes, licenses and fees upon insurers and their agents and other representatives as such; and no county, city, municipality, district, or other political subdivision or agency in this state shall levy upon insurers, or upon their agents and representatives as such, any such tax, license or fee; nor shall any such county, city, municipality, district, political subdivision or agency require of any such insurer, agent or representative, duly authorized or licensed as such under this code, any additional authorization, license, or permit of any kind for conducting therein transactions otherwise lawful under the authority or license granted under this code.  History: [41-405, added 1961, ch. 330, sec. 108, p. 645.]
ID Code § 41-501 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-501 - DEFINITIONS NOT MUTUALLY EXCLUSIVE.

41-501. DEFINITIONS NOT MUTUALLY EXCLUSIVE. It is intended that certain insurance coverages may come within the definitions of two (2) or more kinds of insurance as defined in this chapter, and the inclusion of such coverage within one (1) definition shall not exclude it as to any other kind of insurance within the definition of which such coverage is likewise reasonably includable.  History: [41-501, added 1961, ch. 330, sec. 110, p. 645.]
ID Code § 41-502 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-502 - “LIFE INSURANCE” DEFINED.

41-502. "LIFE INSURANCE" DEFINED. "Life insurance" is insurance on human lives. The transaction of life insurance includes also the granting of endowment benefits, additional benefits in event of death or dismemberment by accident or accidental means, additional benefits in event of the insured’s disability, and optional modes of settlement of proceeds of life insurance. Life insurance does not include workmen’s compensation coverages.  History: [41-502, added 1961, ch. 330, sec. 111, p. 645.]
ID Code § 41-503 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-503 - “DISABILITY INSURANCE” DEFINED.

41-503. "DISABILITY INSURANCE" DEFINED. (1) "Disability insurance" includes: (a) Insurance of human beings against bodily injury, disablement, or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness, and every insurance appertaining thereto. Disability insurance does not include worker’s compensation coverages; and (b) A managed care plan for which a certificate of authority is required pursuant to chapter 39, title 41, Idaho Code.  History: [41-503, added 1961, ch. 330, sec. 112, p. 645; am. 1997, ch. 204, sec. 36, p. 606.]
ID Code § 41-504 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-504 - “PROPERTY INSURANCE” DEFINED.

41-504. "PROPERTY INSURANCE" DEFINED. "Property insurance" is insurance on real or personal property of every kind and of every interest therein, whether on land, water, or in the air, against loss or damage from any and all hazard or cause, and against loss consequential upon such loss or damage, other than noncontractual legal liability for any such loss or damage. Property insurance does not include title insurance, as defined in section 41-508[, Idaho Code].  History: [41-504, added 1961, ch. 330, sec. 113, p. 645.]
ID Code § 41-505 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-505 - “MARINE AND TRANSPORTATION INSURANCE” DEFINED.

41-505. "MARINE AND TRANSPORTATION INSURANCE" DEFINED. "Marine and transportation insurance" includes: (1) Insurance against any kind of loss or damage to: (a) Vessels, craft, aircraft, cars, automobiles and vehicles of every kind, as well as all goods, freights, cargoes, merchandise, effects, disbursements, profits, moneys, bullion, precious stones, securities, choses in action, evidences of debt, valuable papers, bottomry and respondentia interests and all other kinds of property and interests therein, in respect to, appertaining to or in connection with any and all risks or perils of navigation, transit, or transportation, including war risks, on or under any seas or other waters, on land or in the air, or while being assembled, packed, crated, baled, compressed or similarly prepared for shipment or while awaiting the same or during any delays, storage, transshipment, or reshipment incident thereto, including marine builder’s risks and all personal property floater risks, and (b) Person or to property in connection with or appertaining to a marine, inland marine, transit or transportation insurance, including liability for loss of or damage to either, arising out of or in connection with the construction, repair, operation, maintenance or use of the subject matter of such insurance (but not including life insurance or surety bonds nor insurance against loss by reason of bodily injury to the person arising out of the ownership, maintenance or use of automobiles), and (c) Precious stones, jewels, jewelry, gold, silver and other precious metals, whether used in business or trade or otherwise and whether the same be in course of transportation or otherwise, and (d) Bridges, tunnels and other instrumentalities of transportation and communication (excluding buildings, their furniture and furnishings, fixed contents and supplies held in storage) unless fire, tornado, sprinkler leakage, hail, explosion, earthquake, riot and/or civil commotion are the only hazards to be covered; piers, wharves, docks and slips, excluding the risks of fire, tornado, sprinkler leakage, hail, explosion, earthquake, riot and/or civil commotion; other aids to navigation and transportation, including dry docks and marine railways, against all risks. (2) "Marine protection and indemnity insurance," meaning insurance against, or against legal liability of the insured for, loss, damage or expense arising out of, or incident to, the ownership, operation, chartering, maintenance, use, repair or construction of any vessel, craft or instrumentality in use in ocean or inland waterways, including liability of the insured for personal injury, illness or death or for loss of or damage to the property of another person.  History: [41-505, added 1961, ch. 330, sec. 114, p. 645.]
ID Code § 41-507 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-507 - “SURETY INSURANCE” DEFINED.

41-507. "SURETY INSURANCE" DEFINED. "Surety insurance" includes: (1) Fidelity insurance, which is insurance guaranteeing the fidelity of persons holding positions of public or private trust. (2) Insurance or guaranty of the obligations of employers under workmen’s compensation laws. (3) Insurance guaranteeing the performance of contracts, other than insurance policies, and guaranteeing and executing bonds, undertakings, and contracts of suretyship. (4) Insurance indemnifying banks, bankers, brokers, financial or moneyed corporations or associations against loss, resulting from any cause, of bills of exchange, notes, bonds, securities, evidences of debt, deeds, mortgages, warehouse receipts or other valuable papers, documents, money, precious metals and articles made therefrom, jewelry, watches, necklaces, bracelets, gems, precious and semiprecious stones, including any loss while the same are being transported in armored motor vehicles, or by messenger, but not including any other risks of transportation or navigation; also insurance against loss or damage to such an insured’s premises or to his furniture, furnishings, fixtures, equipment, safes, and vaults therein, caused by burglary, robbery, theft, vandalism or malicious mischief, or any attempt thereat.  History: [41-507, added 1961, ch. 330, sec. 116, p. 645.]
ID Code § 41-508 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-508 - “TITLE INSURANCE” DEFINED.

41-508. "TITLE INSURANCE" DEFINED. (1) "Title insurance" is the certification or guarantee of title or ownership, or insurance of owners of property or others having an interest therein or liens or encumbrances thereon, against loss by encumbrance, or defective titles, or invalidity, or adverse claim to title. This definition shall not be deemed to apply as to the business of preparing and issuing abstracts of, but not certifying, guaranteeing, or insuring, title to or ownership of property or certifying to the validity of documents relative to such title. (2) A title insurer may also insure: (a) The identity, due execution, and validity of any note or bond secured by mortgage or deed of trust; and (b) The identity, due execution, validity and recording of any such mortgage or deed of trust.  History: [41-508, added 1961, ch. 330, sec. 117, p. 645.]
ID Code § 41-509 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-509 - LIMIT OF RISK.

41-509. LIMIT OF RISK. (1) No insurer shall retain any risk on any one subject of insurance, whether located or to be performed in this state or elsewhere, in an amount exceeding ten percent (10%) of its surplus to policyholders. (2) A "subject of insurance" for the purposes of this section, as to insurance against fire and hazards other than windstorm, earthquake and other catastrophic hazards, includes all properties insured by the same insurer which are customarily considered by underwriters to be subject to loss or damage from the same fire or the same occurrence of any other hazard insured against. (3) Reinsurance ceded as authorized by section 41-511, Idaho Code shall be deducted in determining risk retained. As to surety risks, deduction shall also be made of the amount assumed by any established incorporated cosurety and the value of any security deposited, pledged, or held subject to the surety’s consent and for the surety’s protection. (4) As to alien insurers, this section shall relate only to risks and surplus to policyholders of the insurer’s United States branch. (5) "Surplus to policyholders" for the purposes of this section, in addition to the insurer’s capital and surplus, shall be deemed to include any voluntary reserves which are not required pursuant to law, and shall be determined from the last sworn statement of the insurer on file with the director, or by the last report of examination of the insurer, whichever is the more recent at time of assumption of risk. (6) This section shall not apply to life or disability insurance, annuities, title insurance, insurance of wet marine and transportation risks, worker’s compensation insurance, employers’ liability coverages, nor to any policy or type of coverage as to which the maximum possible loss to the insurer is not readily ascertainable on issuance of the policy.  History: [41-509, added 1961, ch. 330, sec. 118, p. 645; am. 2007, ch. 280, sec. 1, p. 811.]
ID Code § 41-510 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-510 - “REINSURANCE” DEFINED.

41-510. "REINSURANCE" DEFINED. "Reinsurance" is a contract under which an originating insurer (called the "ceding" insurer) procures insurance for itself in another insurer (called the "assuming" insurer or the "reinsurer") with respect to part or all of an insurance risk of the originating insurer.  History: [41-510, added 1961, ch. 330, sec. 119, p. 645.]
ID Code § 41-511 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-511 - AUTHORIZED REINSURANCE.

41-511. AUTHORIZED REINSURANCE. (1) An insurer may accept reinsurance only of such risks, and retain risk thereon within such limits, as it is otherwise authorized to insure. (2) Except as provided in sections 41-512, 41-2856 (mergers and consolidations of stock insurers) and 41-2858, Idaho Code (bulk reinsurance, mutual insurers), an insurer may reinsure all or any part of any particular Idaho risk with an insurer authorized to transact such insurance in this state, or in any other solvent insurer approved or accepted by the director for the purpose of such reinsurance. The director shall not so approve or accept any such reinsurance by a ceding domestic insurer in an unauthorized insurer which he finds for good cause would be contrary to the interests of the policy holders or stockholders of such domestic insurer. The director shall not so approve any foreign reinsurer that possesses surplus as to policy holders in an amount less than that required under section 41-313, Idaho Code, of a foreign stock insurer authorized to transact in this state the same kind or kinds of insurance as that ceded. (3) Upon request of the director, a ceding insurer shall promptly inform the director in writing of the cancellation or any other material change of any of its reinsurance treaties or arrangements. (4) This section does not apply to marine and transportation insurance.  History: [41-511, added 1961, ch. 330, sec. 120, p. 645; 1974, ch. 210, sec. 1, p. 1547; am. 1991, ch. 276, sec. 2, p. 716.]
ID Code § 41-512 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-512 - REINSURANCE BY IMPAIRED OR WITHDRAWING INSURERS — PENALTY FOR VIOLATION.

41-512. REINSURANCE BY IMPAIRED OR WITHDRAWING INSURERS — PENALTY FOR VIOLATION. (1) No authorized insurer whose capital stock (if a stock insurer) or required minimum surplus (if a mutual or reciprocal insurer) is impaired, or which is insolvent, or which is withdrawing from business in this state, shall reinsure its insurance in force on Idaho risks with any insurer not authorized to transact such insurance in this state, until the plan of such reinsurance has been submitted to the director and has been approved by him in writing. (2) The director shall approve such plan of reinsurance unless he finds that one or more of the following grounds for disapproval exist: (a) The proposed reinsurer is in unsound financial condition; or (b) The proposed reinsurance would not provide the Idaho policy holders involved, with reasonably adequate service; or (c) The proposed reinsurer could not qualify for a certificate of authority to transact such insurance in this state; or (d) The proposed reinsurance would be contrary to the interests of such Idaho policy holders. (3) No domestic insurer shall accept reinsurance of all or substantially all of the risks of another insurer unless the plan for such reinsurance has been submitted to and approved by the director, as provided in sections 41-2856[, Idaho Code,] (mergers and consolidations of stock insurers) and 41-2858[, Idaho Code,] (bulk reinsurance, mutual insurers). (4) Upon effectuation of any such reinsurance the reinsurer shall become liable to the insured under the policy for any loss occurring under the policy so reinsured, and shall, within a reasonable time after such effectuation, replace such policies with its own policies, or by endorsement on the original policies acknowledge liability thereunder. In the case of cancelation of such a policy after effectuation of the reinsurance, the reinsurer shall be liable to the insured thereunder for the return premium due. (5) Any person who acts for, or purports to act for, any insurer or reinsurer in violating any of the provisions of this section shall be guilty of a felony and, upon conviction, shall be punished by a fine of not exceeding ten thousand dollars ($10,000) or by imprisonment in the penitentiary for not exceeding ten (10) years, or by both such fine and imprisonment.  History: [41-512, added 1961, ch. 330, sec. 121, p. 645.]
ID Code § 41-513 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-513 - “SHARE AND DEPOSIT INSURANCE” DEFINED.

41-513. "SHARE AND DEPOSIT INSURANCE" DEFINED. Share and deposit insurance is that form of contract which guarantees the redemption of shares and deposits in a bank or a savings and loan association to its account holders and/or which guarantees to members of credit unions the redemption of shares, share accounts and deposits in a credit union.  History: [41-513, added 1983, ch. 177, sec. 3, p. 485.]
ID Code § 41-514 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-514 - PURPOSE.

41-514. PURPOSE. The purpose of sections 41-514 and 41-515, Idaho Code, is to protect the interest of insureds, claimants, ceding insurers, assuming insurers and the public generally. The legislature hereby declares its intent to ensure adequate regulation of insurers and reinsurers and adequate protection for those to whom they owe obligations. In furtherance of that state interest, the legislature hereby provides a mandate that upon the insolvency of a non-United States insurer or reinsurer that provides security to fund its United States obligations in accordance with this chapter, the assets representing the security shall be maintained in the United States, and claims shall be filed with and valued by the state insurance director with regulatory oversight, and the assets shall be distributed, in accordance with the insurance laws of the state in which the trust is domiciled that are applicable to the liquidation of domestic United States insurance companies. The legislature declares that the matters contained in this chapter are fundamental to the business of insurance in accordance with 15 U.S.C. 1011 and 1012.   History: [41-514, added 2017, ch. 76, sec. 1, p. 197.]
ID Code § 41-516 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 5 - KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE|Section 41-516 - INDIVIDUAL OR GROUP ACCIDENT AND SICKNESS INSURANCE DEFINED.

41-516. INDIVIDUAL OR GROUP ACCIDENT AND SICKNESS INSURANCE DEFINED. "Individual or group accident and sickness insurance" means any policy insuring against loss resulting from sickness or from bodily injury or death by accident, or both. "Individual or group accident and sickness insurance" shall also include comprehensive major medical coverage for medical and surgical benefits and high deductible health plans sold or maintained under the applicable provisions of section 223 of the Internal Revenue Code.  History: [41-516, added 2018, ch. 166, sec. 3, p. 341.]
ID Code § 41-602 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 6 - ASSETS AND LIABILITIES|Section 41-602 - ASSETS AS DEDUCTIONS FROM LIABILITIES.

41-602. ASSETS AS DEDUCTIONS FROM LIABILITIES. Assets may be allowed as deductions from corresponding liabilities, and liabilities may be charged as deductions from assets, and deductions from assets may be charged as liabilities, in accordance with the form of annual statement applicable to the insurer as prescribed by the director, or otherwise in his discretion.  History: [41-602, added 1961, ch. 330, sec. 123, p. 645.]
ID Code § 41-603 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 6 - ASSETS AND LIABILITIES|Section 41-603 - ASSETS NOT ALLOWED.

41-603. ASSETS NOT ALLOWED. In addition to assets impliedly excluded by the provisions of section 41-601, Idaho Code, the following expressly shall not be allowed as assets in any determination of the financial condition of an insurer: (1) Good will, trade names and other like intangible assets, except as expressly permitted and as prescribed by the national association of insurance commissioners’ accounting practices and procedures. (2) Advances to officers (other than policy loans) whether secured or not, and advances to employees, agents and other persons on personal security only. (3) Stock of such insurer, owned by it, or any material equity therein or loans secured thereby, or any material proportionate interest in such stock acquired or held through the ownership by such insurer of an interest in another firm, corporation or business unit. (4) Furniture, fixtures, furnishings, safes, vehicles (except as authorized in paragraph (12), section 41-601, Idaho Code), libraries, stationery, literature, and other equipment, machines, and supplies (other than data processing and accounting systems authorized under section 41-601(11), Idaho Code), except in the case of title insurers such materials and plants as the insurer is expressly authorized to invest in under section 41-726, Idaho Code, and except, in the case of any insurer, such personal property as the insurer is permitted to hold pursuant to chapter 7, title 41, Idaho Code, or which is reasonably necessary for the maintenance and operation of real estate lawfully acquired and held by the insurer other than real estate used by it for home office, branch office and similar purposes. (5) The amount, if any, by which the aggregate book value of investments is carried in the ledger assets of the insurer exceeds the aggregate value thereof as determined under this code.  History: [41-603, added 1961, ch. 330, sec. 124, p. 645; am. 1971, ch. 122, sec. 2, p. 408; am. 2006, ch. 207, sec. 1, p. 636.]
ID Code § 41-604 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 6 - ASSETS AND LIABILITIES|Section 41-604 - DISALLOWANCE OF “WASH” TRANSACTIONS.

41-604. DISALLOWANCE OF "WASH" TRANSACTIONS. (1) The director shall disallow as an asset or as a credit against liabilities any reinsurance found by him after a hearing thereon to have been arranged for the purpose principally of deception as to the ceding insurer’s financial condition as of the date of any financial statement of the insurer. Without limiting the general purport of the foregoing provision, reinsurance of any substantial part of the insurer’s outstanding risks contracted for in fact within four (4) months prior to the date of any such financial statement and canceled in fact within four (4) months after the date of such statement, or reinsurance under which the reinsurer bears no substantial insurance risk or substantial risk of net loss to itself, shall prima facie be deemed to have been arranged for the purpose principally of deception within the intent of this provision. (2) The director shall disallow as an asset any deposit, funds or other assets of the insurer found by him after a hearing thereon: (a) Not to be in good faith the property of the insurer, and (b) Not freely subject to withdrawal or liquidation by the insurer at any time for the payment or discharge of claims or other obligations arising under its policies, and (c) To be resulting from arrangements made principally for the purpose of deception as to the insurer’s financial condition as of the date of any financial statement of the insurer. (3) No such disallowance of assets or credits shall be valid unless made by the director after a hearing of which notice was given the insurer within six (6) months after the date the financial statement of the insurer as to which such deception is claimed was filed with the director. (4) The director may suspend or revoke the certificate of authority of any insurer which has knowingly been a party to any such deception or attempt thereat.  History: [41-604, added 1961, ch. 330, sec. 125, p. 645.]