reglab/housing_qa huggingface dataset:
ID Code § 41-708 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-708 - OBLIGATIONS AND STOCK OF CERTAIN FEDERAL AGENCIES.

41-708. OBLIGATIONS AND STOCK OF CERTAIN FEDERAL AGENCIES. An insurer may invest in the obligations, and/or stock where stated, of the following agencies of the government of the United States of America, whether or not such obligations are guaranteed by such government: (1) Commodity credit corporation. (2) Federal intermediate credit banks. (3) Federal land banks. (4) Central bank for cooperatives. (5) Federal home loan banks, and stock thereof. (6) Federal national mortgage association, and stock thereof when acquired in connection with sale of mortgage loans to such association. (7) Any other similar agency of the government of the United States of America and of similar financial quality.  History: [41-708, added 1961, ch. 330, sec. 145, p. 645.]
ID Code § 41-709 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-709 - IRRIGATION DISTRICT BONDS.

41-709. IRRIGATION DISTRICT BONDS. An insurer may invest in the legally issued bonds, not delinquent as to principal or interest, of any solvent irrigation district created as provided by law in this state, or in any other state, whose water rights shall have been legally acquired and finally determined, and shall be fully adequate to supply sufficient water to properly irrigate all the land within such district, and which shall be adequately irrigating not less than thirty per cent (30%) of the lands within such irrigation district.  History: [41-709, added 1961, ch. 330, sec. 146, p. 645.]
ID Code § 41-710 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-710 - INTERNATIONAL BANK.

41-710. INTERNATIONAL BANK. An insurer may invest in obligations issued, assumed or guaranteed by the International Bank for Reconstruction and Development or the African Development Bank.  History: [41-710, added 1961, ch. 330, sec. 147, p. 645; am. 1988, ch. 240, sec. 1, p. 469.]
ID Code § 41-711 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-711 - CORPORATE OBLIGATIONS.

41-711. CORPORATE OBLIGATIONS. An insurer may invest any of its funds in obligations other than those eligible for investment under section 41-721, Idaho Code, (mortgage loans and contracts), if they are issued, assumed, or guaranteed by any solvent institution created or existing under the laws of the United States or of any state, district or territory thereof, or of the government of Canada or any province thereof, and if said institution is not in default as to principal or interest on any of its obligations.  History: [41-711, added 1961, ch. 330, sec. 148, p. 645; am. 1969, ch. 214, sec. 18, p. 625; am. 1978, ch. 142, sec. 1, p. 322; am. 1983, ch. 189, sec. 3, p. 511.]
ID Code § 41-712 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-712 - CERTAIN TERMS DEFINED.

41-712. CERTAIN TERMS DEFINED. (1) Certain terms used are defined for the purposes of this chapter as follows: (a) "Obligation" includes bonds, debentures, notes or other evidences of indebtedness. (b) "Institution" includes corporations, joint-stock associations, and business trusts.  History: [41-712, added 1961, ch. 330, sec. 149, p. 645; am. 1969, ch. 214, sec. 19, p. 625.]
ID Code § 41-713 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-713 - PREFERRED STOCKS — DIVERSIFICATION.

41-713. PREFERRED STOCKS — DIVERSIFICATION. An insurer may invest any of its funds, in an aggregate amount not exceeding fifteen percent (15%) of its assets in preferred stocks or shares, other than common stocks, of solvent institutions existing under the laws of the United States or of any state, district, or territory thereof, or of the government of Canada or any province thereof, if all of the prior obligations and prior preferred stocks, if any, of such institution at the date of acquisition by the insurer are not then in default as to principal, interest or dividends.  History: [41-713, added 1961, ch. 330, sec. 150, p. 645; am. 1969, ch. 214, sec. 20, p. 625; am. 1983, ch. 189, sec. 4, p. 512; am. 2006, ch. 27, sec. 1, p. 86.]
ID Code § 41-714 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-714 - COMMON STOCKS.

41-714. COMMON STOCKS. After satisfying the requirements of section 41-706(3) and (4), Idaho Code, (investment of capital and life reserves), an insurer may invest funds in an aggregate amount not in excess of fifteen percent (15%) of its assets in common shares of stock of any solvent institution existing under the laws of the United States or of any state, district or territory thereof, or of the government of Canada or any province thereof, that qualify as a sound investment, in addition to the shares of a substantially owned or wholly owned subsidiary corporation. For the purpose of determining the investment limitation imposed by this section, the insurer shall value securities subject to the provisions of this section at the cost of the security or at the market value of the security, whichever is lower. However, investments in the shares of subsidiaries or companion insurance companies shall be governed by sections 41-715 and 41-3803, Idaho Code. The limitations as to investment in common stocks as provided herein shall not apply to nor limit the right of investments in investment trust securities as provided for in section 41-716, Idaho Code.  History: [41-714, added 1961, ch. 330, sec. 151, p. 645; am. 1969, ch. 214, sec. 21, p. 625; am. 1971, ch. 122, sec. 5, p. 408; am. 1993, ch. 194, sec. 8, p. 501; am. 2003, ch. 219, sec. 2, p. 568; am. 2006, ch. 27, sec. 2, p. 86; am. 2013, ch. 266, sec. 4, p. 680.]
ID Code § 41-715 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-715 - INSURANCE STOCKS.

41-715. INSURANCE STOCKS. (1) An insurer may invest in subsidiary and/or companion insurance companies not to exceed fifteen percent (15%) of assets. For the purpose of calculating this fifteen percent (15%) limitation, all investments made under this section and section 41-3803, Idaho Code, must be valued at market value of the security if actively traded, or at cost if not actively traded. (2) The limitations on investments in insurance stocks set forth in this section shall not apply to stocks acquired under a plan for merger of the insurers which has been approved by the director or as to shares received as stock dividends upon shares already owned. (3) Shares acquired and held under this section shall not, for the purposes of the limitations provided under section 41-714, Idaho Code, be included among other common stocks held by the insurer.  History: [41-715, added 1961, ch. 330, sec. 152, p. 645; am. 1969, ch. 214, sec. 22, p. 625; am. 1983, ch. 189, sec. 5, p. 512; am. 1993, ch. 194, sec. 9, p. 501; am. 2013, ch. 266, sec. 5, p. 680.]
ID Code § 41-716 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-716 - INVESTMENT TRUST SECURITIES.

41-716. INVESTMENT TRUST SECURITIES. (1) An insurer may invest in the securities of any open-end management type investment company or investment trust registered with the federal securities and exchange commission under the investment company act of 1940 as from time to time amended, if such investment company or trust has been organized for not less than three (3) years and has assets of not less than twenty-five million dollars ($25,000,000) as at the date of investment by the insurer. The aggregate amount invested under this section shall not exceed twenty-five percent (25%) of the insurer’s assets with limitations of five percent (5%) of the insurer’s assets in any one (1) fund and ten percent (10%) of the insurer’s assets in any one (1) fund family. (2) For the purpose of determining the investment limitation imposed by this section, the insurer shall value securities subject to the provisions of this section at the cost of the security or at the market value of the security, whichever is lower.  History: [41-716, added 1961, ch. 330, sec. 153, p. 645; am. 1983, ch. 189, sec. 6, p. 513; am. 1997, ch. 226, sec. 1, p. 664; am. 2003, ch. 219, sec. 3, p. 569; am. 2014, ch. 97, sec. 26, p. 288.]
ID Code § 41-717 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-717 - EQUIPMENT TRUST OBLIGATIONS.

41-717. EQUIPMENT TRUST OBLIGATIONS. An insurer may invest any of its funds, in an aggregate amount not exceeding ten per cent (10%) of its assets, in equipment trust obligations or certificates which are adequately secured or in other adequately secured instruments evidencing an interest in transportation equipment wholly or in part within the United States and the right to receive determined portions of rental, purchase or other fixed obligatory payments for the use or purchase of such transportation equipment.  History: [41-717, added 1961, ch. 330, sec. 154, p. 645.]
ID Code § 41-718 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-718 - POLICY LOANS.

41-718. POLICY LOANS. A life insurer may lend to its policy holder upon pledge of the policy as collateral security, any sum not exceeding the cash surrender value of the policy; or may lend against pledge or assignment of any of its supplementary contracts or other contracts or obligations, so long as the loan is adequately secured by such pledge or assignment. Loans so made are eligible investments of the insurer.  History: [41-718, added 1961, ch. 330, sec. 155, p. 645.]
ID Code § 41-719 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-719 - COLLATERAL LOANS.

41-719. COLLATERAL LOANS. An insurer may lend and thereby invest its funds upon the pledge of securities eligible for investment under this chapter. As at date made, no such loan shall exceed in amount ninety per cent (90%) of the market value of such collateral pledged. The amount so loaned shall be included pro rata in determining the maximum percentage of funds permitted under this chapter to be invested in the respective categories of securities so pledged.  History: [41-719, added 1961, ch. 330, sec. 156, p. 645.]
ID Code § 41-720 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-720 - SAVINGS AND SHARE ACCOUNTS.

41-720. SAVINGS AND SHARE ACCOUNTS. An insurer may invest or deposit any of its funds in time certificates or share or savings accounts of banks, savings and loan associations and credit unions; provided, however, that funds may be deposited in any one (1) such savings and loan association or credit union only to the extent that such an account is insured by either the federal savings and loan insurance corporation or the national credit union insurance fund.  History: [41-720, added 1961, ch. 330, sec. 157, p. 645; am. 1971, ch. 122, sec. 6, p. 408; am. 1982, ch. 212, sec. 1, p. 586.]
ID Code § 41-721 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-721 - MORTGAGE LOANS AND CONTRACTS.

41-721. MORTGAGE LOANS AND CONTRACTS. An insurer may invest any of its funds in: (1) Bonds or evidences of debt which are secured by first mortgages or deeds of trust on improved unencumbered real property located in the United States. (2) Purchase money mortgages or like securities received by it upon the sale or exchange of real property acquired pursuant to section 41-728, Idaho Code. (3) Bonds or notes secured by mortgage or trust deed guaranteed or insured by the federal housing administration under the terms of an act of congress of the United States for June twenty-seventh, nineteen hundred thirty-four, entitled the "National Housing Act," as amended. (4) Bonds or notes secured by mortgage or trust deed guaranteed or insured as to principal in whole or in part by the administrator of veterans affairs pursuant to the provisions of title III of an act of congress of the United States of June twenty-second, nineteen hundred forty-four, entitled the "Servicemen’s Readjustment Act of 1944," as amended, or by any other similar agency of the government of the United States. (5) Evidences of debt secured by first mortgages or deeds of trust upon leasehold estates, running for a term of not less than fifteen (15) years beyond the maturity of the loan as made or as extended, in improved real property, otherwise unencumbered, and if the mortgagee is entitled to be subrogated to all the rights under the leasehold. (6) Bonds or notes secured by mortgage and insured by mortgage guarantee insurance as provided by chapter 26A, title 41, Idaho Code. (7) Participation interests in any bond, note or evidence of indebtedness if the entire indebtedness would qualify as an investment under subsections (1) through (6) of this section, and: (a) Such participation is senior and gives the holder substantially the rights of a first mortgagee; or (b) Such participation is of equal priority, to the extent of such interest, with other interests therein.  History: [41-721, added 1961, ch. 330, sec. 158, p. 645; am. 1969, ch. 214, sec. 23, p. 625; am. 1974, ch. 91, sec. 2, p. 1187; am. 2003, ch. 163, sec. 1, p. 459; am. 2006, ch. 26, sec. 1, p. 84.]
ID Code § 41-722 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-722 - MORTGAGE LOAN LIMITED BY PROPERTY VALUE.

41-722. MORTGAGE LOAN LIMITED BY PROPERTY VALUE. (1) No commercial or residential mortgage loan or investment therein upon any one (1) parcel of real property shall exceed in amount, at the time of acquisition, eighty percent (80%) of the fair value of the property and the loan is required to be amortized within not more than thirty (30) years by payment of installments of principal and interest thereon at regular intervals not less frequent than every year. (2) The extent to which a mortgage loan made under subsection (3) or (4) of section 41-721, Idaho Code, is guaranteed by the administrator of veterans affairs may be deducted before application of the limitations contained in subsection (1) of this section.  History: [41-722, added 1961, ch. 330, sec. 159, p. 645; am. 1969, ch. 214, sec. 24, p. 625; am. 2002, ch. 364, sec. 1, p. 1028; am. 2006, ch. 26, sec. 2, p. 85.]
ID Code § 41-723 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-723 - APPRAISAL — LIMIT OF AMOUNT LOANED.

41-723. APPRAISAL — LIMIT OF AMOUNT LOANED. (1) The fair value of property shall be determined by appraisal by a competent independent appraiser at the time of the making or acquisition of a mortgage loan or investing in a contract for the deed thereon; except, that as to bonds or notes secured by mortgage or trust deed guaranteed or insured by the federal housing administration, or guaranteed or insured as to principal in full or in part by the administrator of veterans affairs, or guaranteed or insured by the farmers home administration, the valuation made by such administration or administrator shall be deemed to have been made by a competent appraiser for the purposes of this subsection. (2) An insurer shall not make or acquire a loan or loans upon the security of any one (1) parcel of real property in aggregate amount in excess of ten thousand dollars ($10,000) or more than the amount permissible under section 41-706(1), Idaho Code, (investment in securities, etc., of any one person), whichever is the greater.  History: [41-723, added 1961, ch. 330, sec. 160, p. 645; am. 2003, ch. 219, sec. 4, p. 569.]
ID Code § 41-724 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-724 - “IMPROVED REAL PROPERTY” DEFINED.

41-724. "IMPROVED REAL PROPERTY" DEFINED. For the purpose of section 41-724 [41-721], Idaho Code, "improved real property" means: (1) Farmland used for tillage, crop or pasture; (2) Real estate on which improvements, or improvements under construction or in process of construction, suitable for residence, institutional, commercial or industrial use, are situated; and (3) Real estate to be developed for the use or uses set forth in subsection (2) of this section on which durable structural improvements, or durable structural improvements under construction or in process of construction, including but not limited to streets, sidewalks, sewers, and utilities which will become an integral part of such development, are situated or abut.  History: [I.C., sec. 41-724, as added by 1974, ch. 91, sec. 4, p. 1187.]
ID Code § 41-725 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-725 - “ENCUMBRANCE” DEFINED.

41-725. "ENCUMBRANCE" DEFINED. (1) Real property shall not be deemed to be encumbered within the meaning of section 41-721 by reason of the existence of instruments reserving mineral, oil, timber or similar rights, rights of way, sewer rights, rights in walls, nor by reason of any liens for taxes or assessments not yet due, or on account of liens not delinquent for community recreational facilities, or for the maintenance of community facilities, nor by reason of building restrictions or other restrictive covenants common to the community in which the property is located, nor by liens for service and maintenance of water rights where not delinquent, nor when such real property is subject to lease under which rents or profits are reserved to the owner if in any event the security for the loan or investment is a first lien upon the real property. (2) If under any of the exceptions set forth in subsection (1) of this section there is any sum owing but not due or delinquent, the total amount of such sum shall be deducted from the amount which otherwise might be loaned on the property. The value of any mineral, oil, timber or similar right reserved shall not be included in the fair value of the property.  History: [41-725, added 1961, ch. 330, sec. 162, p. 645.]
ID Code § 41-726 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-726 - SPECIAL INVESTMENTS BY TITLE INSURER.

41-726. SPECIAL INVESTMENTS BY TITLE INSURER. (1) In addition to other investments eligible under this chapter, a title insurer may invest in its abstract plant and equipment, and in loans secured by mortgages on abstract plants and equipment, which plant investment shall not exceed fifty per cent (50%) of its paid-in capital stock and paid-in surplus unless a greater amount is approved in advance by the director. Except with the director’s consent, the insurer shall not invest or have invested in stocks of subsidiaries and other corporate stocks an amount in excess of the insurer’s surplus funds exclusive of its paid-in capital stock. (2) In any determination of the insurer’s financial condition no investment in abstract plant and equipment, or in loans secured by mortgages thereon, shall be valued at an amount in excess of the lesser of (a) the cost thereof to the insurer, or (b) the fair market value. (3) No investment as determined in subparagraph (2) above shall be credited against the insurer’s unearned premium or loss reserves required under section 41-611, Idaho Code.  History: [41-726, added 1961, ch. 330, sec. 164, p. 645; am. 1972, ch. 138, sec. 1, p. 305.]
ID Code § 41-729 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-729 - TIME LIMIT FOR DISPOSAL OF REAL ESTATE.

41-729. TIME LIMIT FOR DISPOSAL OF REAL ESTATE. (1) Except as provided in subsection (4) below, an insurer shall dispose of real estate within time limits as follows: (a) If acquired under section 41-728(1)(a) (home office and branch office property), the insurer shall sell and dispose of the property within five (5) years after it ceased to be used or to be necessary for the purposes stated therein. (b) If acquired under subdivisions (b) (in satisfaction of debts, etc.), (c) (in part payment on other real estate sold), (d) (by gift or devise), or (e) (merger or consolidation) of section 41-728(1), the insurer shall sell and dispose of the property within five (5) years after the insurer acquired title thereto. (c) If acquired under section 41-728(1)(f) (for production of income), the insurer shall within five (5) years after the termination or expiration of the lease, sell and dispose of the property, or re-lease the property for an additional term under the same conditions provided in such section as for an original leasing. (2) Any real estate otherwise subject to disposal under subdivisions (b) or (c) above, may be retained by the insurer for home office or branch office purposes for so long as so used, and subject to provisions otherwise applicable to such home office and branch office property. (3) Any real property otherwise subject to disposal under subdivisions (a) and (b) above, may be retained by the insurer for leasing under section 41-728(1)(f) for so long as so used, and subject to provisions otherwise applicable to such real estate for leasing. (4) Upon proof satisfactory to him that the interests of the insurer will suffer materially by the forced sale thereof, the commissioner may by certificate grant a reasonable additional period, as specified in the certificate, within which the insurer shall dispose of any particular parcel of real estate. (5) Real estate held by an insurer beyond the period allowed for its disposal under this section shall not constitute an asset of the insurer in any determination of the insurer’s financial condition.  History: [41-729, added 1961, ch. 330, sec. 166, p. 645.]
ID Code § 41-730 (2021)
2021 Idaho Code|Title 41 - INSURANCE|Chapter 7 - INVESTMENTS|Section 41-730 - DISPOSAL OF INELIGIBLE PROPERTY AND SECURITIES.

41-730. DISPOSAL OF INELIGIBLE PROPERTY AND SECURITIES. (1) Any personal property or securities lawfully acquired by an insurer which it could not otherwise have invested in or loaned its funds upon at the time of such acquisition, shall be disposed of by the insurer within one (1) year from date of acquisition, unless within such period the security has attained to the standard for eligibility. The director, upon application and proof that forced sale of any such property or security would be against the best interests of the insurer, may extend the disposal period for an additional reasonable time. (2) While any such property or security remains so ineligible it shall not be allowed as an asset of the insurer. (3) Any ineligible property or security unlawfully acquired by an insurer shall be disposed of forthwith, and for failure so to do within thirty (30) days after order of the director requiring such disposal, the director may suspend or revoke the insurer’s certificate of authority. (4) For the purposes of subsection (3) above, an investment otherwise eligible shall not be deemed ineligible for the reason that it is in excess of the amount permitted under this chapter to be invested in the category of investments to which it belongs; and any such excess investment shall be disposed of within the time prescribed in subsection (1) of this section.  History: [41-730, added 1961, ch. 330, sec. 167, p. 645.]