Idaho Code
Chapter 7 - INVESTMENTS
Section 41-707 - PUBLIC OBLIGATIONS.

41-707. PUBLIC OBLIGATIONS. An insurer may invest any of its funds in bonds or other evidences of debt, not in default as to principal or interest, which are valid and legally authorized obligations issued, assumed or guaranteed by the United States or by any state thereof or by any territory or possession of the United States or by the District of Columbia, or of the government of Canada or any provinces thereof, or by any county, city, town, village, municipality or district therein or by any political subdivision thereof or by any civil division or public instrumentality of one or more of the foregoing, if, by statutory or other legal requirements applicable thereto, such obligations are payable, as to both principal and interest, (1) from taxes levied or required to be levied upon all taxable property or all taxable income within the jurisdiction of such governmental unit or, (2) from adequate special revenues pledged or otherwise appropriated or by law required to be provided for the purpose of such payment, but not including any obligation payable solely out of special assessments on properties benefited by local improvements unless adequate security is evidenced by the ratio of assessment to the value of the property or the obligation is additionally secured by an adequate guaranty fund required by law.

History:
[41-707, added 1961, ch. 330, sec. 144, p. 645; am. 1969, ch. 214, sec. 17, p. 625.]

Structure Idaho Code

Idaho Code

Title 41 - INSURANCE

Chapter 7 - INVESTMENTS

Section 41-701 - INVESTMENTS.

Section 41-702 - ELIGIBLE INVESTMENTS.

Section 41-703 - GENERAL QUALIFICATIONS.

Section 41-704 - AUTHORIZATION OF INVESTMENTS.

Section 41-705 - RECORD OF INVESTMENTS.

Section 41-706 - DIVERSIFICATION OF INVESTMENTS.

Section 41-707 - PUBLIC OBLIGATIONS.

Section 41-708 - OBLIGATIONS AND STOCK OF CERTAIN FEDERAL AGENCIES.

Section 41-709 - IRRIGATION DISTRICT BONDS.

Section 41-710 - INTERNATIONAL BANK.

Section 41-711 - CORPORATE OBLIGATIONS.

Section 41-712 - CERTAIN TERMS DEFINED.

Section 41-713 - PREFERRED STOCKS — DIVERSIFICATION.

Section 41-714 - COMMON STOCKS.

Section 41-715 - INSURANCE STOCKS.

Section 41-716 - INVESTMENT TRUST SECURITIES.

Section 41-717 - EQUIPMENT TRUST OBLIGATIONS.

Section 41-718 - POLICY LOANS.

Section 41-719 - COLLATERAL LOANS.

Section 41-720 - SAVINGS AND SHARE ACCOUNTS.

Section 41-721 - MORTGAGE LOANS AND CONTRACTS.

Section 41-722 - MORTGAGE LOAN LIMITED BY PROPERTY VALUE.

Section 41-723 - APPRAISAL — LIMIT OF AMOUNT LOANED.

Section 41-724 - “IMPROVED REAL PROPERTY” DEFINED.

Section 41-725 - “ENCUMBRANCE” DEFINED.

Section 41-726 - SPECIAL INVESTMENTS BY TITLE INSURER.

Section 41-727 - FOREIGN SECURITIES.

Section 41-728 - REAL ESTATE.

Section 41-729 - TIME LIMIT FOR DISPOSAL OF REAL ESTATE.

Section 41-730 - DISPOSAL OF INELIGIBLE PROPERTY AND SECURITIES.

Section 41-731 - PROHIBITED INVESTMENTS AND INVESTMENT UNDERWRITING.

Section 41-732 - DOMESTIC RECIPROCAL INSURER.

Section 41-733 - SUBSIDIARY INVESTMENTS.

Section 41-734 - SEPARATE ACCOUNT FUNDS.

Section 41-735 - MISCELLANEOUS INVESTMENTS.

Section 41-736 - PERMITTED INVESTMENTS.