US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 7
                                 INVESTMENTS
    41-716.  INVESTMENT TRUST SECURITIES. (1) An insurer may invest in the
securities of any open-end management type investment company or investment
trust registered with the federal securities and exchange commission under the
Investment Company Act of 1940 as from time to time amended, if such
investment company or trust has been organized for not less than three (3)
years and has assets of not less than twenty-five million dollars
($25,000,000) as at the date of investment by the  insurer. The aggregate
amount invested under this section shall not exceed twenty-five percent (25%)
of the insurer's assets with limitations of five percent (5%) of the insurer's
assets in any one (1) fund and ten percent (10%) of the insurer's assets in
any one (1) fund family.
    (2)  For the purpose of determining the investment limitation imposed by
this section 41-716, Idaho Code, the insurer shall value securities subject to
the provisions of this section 41-716, Idaho Code, at the cost of the security
or at the market value of the security, whichever is lower.