Idaho Statutes Title 41. Insurance § 41-715. Insurance stocks
Current as of January 01, 2023 | Updated by FindLaw Staff
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
(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.
Cite this article: FindLaw.com - Idaho Statutes Title 41. Insurance § 41-715. Insurance stocks - last updated January 01, 2023 | https://codes.findlaw.com/id/title-41-insurance/id-st-sect-41-715.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?