US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 7
                                 INVESTMENTS
    41-714.  COMMON STOCKS. After satisfying the requirements of section
41-706(3) and (4), Idaho Code, (investment of capital and life reserves), an
insurer may invest funds in an aggregate amount not in excess of fifteen
percent (15%) of its assets in common shares of stock of any solvent
institution existing under the laws of the United States or of any state,
district or territory thereof, or of the government of Canada or any province
thereof, that qualify as a sound investment, in addition to the shares of a
substantially owned or wholly owned subsidiary corporation.
    For the purpose of determining the investment limitation imposed by this
section, the insurer shall value securities subject to the provisions of this
section at the cost of the security or at the market value of the security,
whichever is lower. However, investments in the shares of subsidiaries or
companion insurance companies shall be governed by sections 41-715 and
41-3801B, Idaho Code.
    The limitations as to investment in common stocks as provided herein shall
not apply to nor limit the right of investments in investment trust securities
as provided for in section 41-716, Idaho Code.