Idaho Code § 41-735

Current through the 2024 Regular Session
Section 41-735 - MISCELLANEOUS INVESTMENTS
(1) An insurer may loan or invest its funds in kinds of loans or investments not otherwise specifically made eligible for investment and not specifically prohibited or made ineligible by this or other provisions of the Idaho Code in an aggregate amount not exceeding the lesser of ten percent (10%) of an insurer's assets, or seventy-five percent (75%) of an insurer's capital and surplus excluding surplus notes. Investments under this subsection are limited to five percent (5%) of an insurer's assets in a single investment or in a single entity, its affiliates, and subsidiaries as defined by the first six (6) digits of the committee on uniform security identification procedures (CUSIP) number.
(2) The insurer shall keep a separate record of all investments acquired under this section.

Idaho Code § 41-735

[I.C., sec. 41-735, as added by 1975, ch. 207, sec. 2, p. 575; am. 1983, ch. 189, sec. 8, p. 514; am. 2019, ch. 112, sec. 3, p. 371.]
Amended by 2019 Session Laws, ch. 112,sec. 3, eff. 7/1/2019.