41-208. PROHIBITED INTERESTS, REWARDS. (1) The director or any deputy, actuary, examiner, assistant or employee of the director shall not be a director, officer, or employee of any insurer or be financially interested in the business of any insurer, except as a policyholder or claimant under an insurance policy or by reason of rights theretofore vested in commissions, fees, or retirement benefits related to services theretofore performed; nor shall any such individual engage in any other business or occupation interfering with or inconsistent with the duties of his office or employment, or serve on or under any political committee or take an active part in any political campaign on behalf of any candidate or party; that as to matters wherein a conflict of interests does not exist on the part of any such individual, the director may employ or retain from time to time insurance actuaries, examiners, accountants, attorneys or other technicians who are independently practicing their professions even though from time to time similarly employed or retained by insurers or others.
(2) Except as provided in section 41-209, [Idaho Code,] no person shall directly or indirectly give or pay to the director, or any deputy, actuary, examiner, assistant or employee of the director, and the director or his deputy, actuary, examiner, assistant or employee shall not directly or indirectly receive or accept, any fee, compensation, loan, gift, or other thing of value in addition to the compensation and expense allowance provided by law, for any service rendered or to be rendered as such director, deputy, actuary, examiner, assistant or employee or in connection therewith, or for services rendered or to be rendered in relation to legislation, or for extra services rendered or to be rendered, or for any cause whatsoever related, to any person who is subject to the supervision of the director under this code.
(3) Subsections (1) and (2) shall not be deemed to prohibit:
(a) Receipt by any such individual of fully vested commissions or fully vested retirement benefits to which he is entitled by reason of services performed prior to becoming director or prior to employment by the director; or
(b) Investment in shares of regulated diversified investment companies; or
(c) Mortgage loans made under customary terms and in the ordinary course of business.
History:
[41-208, added 1961, ch. 330, sec. 25, p. 645; am. 1969, ch. 214, sec. 3, p. 625.]
Structure Idaho Code
Chapter 2 - THE DEPARTMENT OF INSURANCE
Section 41-201 - DEPARTMENT OF INSURANCE.
Section 41-202 - DIRECTOR — APPOINTMENT — TERM — QUALIFICATIONS.
Section 41-203 - TERMS CONSTRUED.
Section 41-204 - DIRECTOR’S OATH AND BOND.
Section 41-205 - OFFICIAL SEAL.
Section 41-206 - DIVISIONS AND EMPLOYEES.
Section 41-207 - DELEGATION OF POWERS.
Section 41-208 - PROHIBITED INTERESTS, REWARDS.
Section 41-209 - PROFESSIONAL SERVICES.
Section 41-210 - GENERAL POWERS, DUTIES.
Section 41-212 - ORDERS, NOTICES.
Section 41-214 - RECORDS — REPRODUCTION — DESTRUCTION.
Section 41-215 - USE OF REPRODUCTIONS AND CERTIFIED COPIES AS EVIDENCE.
Section 41-216 - DIRECTOR’S ANNUAL REPORT.
Section 41-217 - PUBLICATIONS AUTHORIZED.
Section 41-218 - PUBLICATIONS — SALE.
Section 41-219 - EXAMINATION OF INSURERS.
Section 41-220 - EXAMINATION OF AGENTS, BROKERS, CONSULTANTS, MANAGERS, ADJUSTERS, PROMOTERS.
Section 41-221 - PLACE OF EXAMINATION.
Section 41-222 - EXAMINATION COOPERATION WITH OTHER STATES.
Section 41-224 - EXAMINATION — APPRAISAL OF ASSET.
Section 41-225 - OBSTRUCTION OF EXAMINATION — PENALTY.
Section 41-226 - EXAMINERS — QUALIFICATIONS.
Section 41-227 - EXAMINATION REPORT.
Section 41-228 - EXAMINATION EXPENSE.
Section 41-229 - WITNESSES AND EVIDENCE.
Section 41-230 - TESTIMONY COMPELLED — IMMUNITY FROM PROSECUTION.
Section 41-231 - HEARINGS AND APPEAL — SCOPE OF PROVISIONS.
Section 41-232 - HEARINGS IN GENERAL.
Section 41-234 - PLACE OF HEARING — ADMISSION OF PUBLIC.
Section 41-235 - NOTICE OF HEARING.
Section 41-236 - SHOW CAUSE NOTICE.
Section 41-237 - ADJOURNED HEARING.
Section 41-238 - NONATTENDANCE.
Section 41-240 - ORDER ON HEARING.
Section 41-247 - INQUIRY POWERS OF DIRECTOR.
Section 41-248 - INTERSTATE RELATIONS.
Section 41-253 - STATEMENT OF PURPOSE — ADOPTION OF INTERNATIONAL FIRE CODE.
Section 41-255 - DUTIES OF STATE FIRE MARSHAL.
Section 41-256 - ASSISTANTS TO STATE FIRE MARSHAL — LOCAL APPEAL PROCEDURE.
Section 41-257 - STATE FIRE MARSHAL AS CHIEF ARSON INVESTIGATION OFFICER.
Section 41-258 - REPORT OF LOSSES BY FIRE INSURANCE COMPANIES TO STATE FIRE MARSHAL.
Section 41-259 - INSPECTION OF BUILDINGS — ORDER OF REMEDY OR REMOVAL — SERVICE OF ORDER.
Section 41-260 - APPEAL FROM ORDER OF REMEDY OR REMOVAL — APPEAL FROM LOCAL APPEAL DECISION.
Section 41-263 - FAILURE TO PAY EXPENSE OF REPAIR OR DEMOLITION — ASSESSMENT.
Section 41-264 - INVESTIGATIVE HEARINGS — SUBPOENA OF WITNESSES — CONDUCT OF HEARING.
Section 41-265 - WITNESS FEES — CHARGE FOR SERVICE OF PROCESS.
Section 41-266 - ADMISSION OF INTERNATIONAL FIRE CODE IN EVIDENCE.
Section 41-268 - ARSON, FIRE AND FRAUD PREVENTION ACCOUNT.
Section 41-269 - LIBERAL CONSTRUCTION OF ACT.
Section 41-286 - UNIFORM CLAIMS PROCESSING.
Section 41-288 - RETALIATORY REQUIREMENT.
Section 41-290 - FRAUDULENT CLAIMS.
Section 41-292 - DISCLOSURE OF INFORMATION BY INSURERS.
Section 41-293 - INSURANCE FRAUD.
Section 41-294 - DAMAGE TO OR DESTRUCTION OF INSURED PROPERTY.
Section 41-295 - DUTIES OF THE INVESTIGATION SECTION.
Section 41-296 - CONFIDENTIALITY — COMPULSORY TESTIMONY.