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.]
Structure Idaho Code
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 41-729 - 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.