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.]
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.