US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 7
                                 INVESTMENTS
    41-723.  APPRAISAL -- LIMIT OF AMOUNT LOANED. (1) The fair value of
property shall be determined by appraisal by a competent independent appraiser
at the time of the making or acquisition of a mortgage loan or investing in a
contract for the deed thereon; except, that as to bonds or notes secured by
mortgage or trust deed guaranteed or insured by the federal housing
administration, or guaranteed or insured as to principal in full or in part by
the administrator of veterans affairs, or guaranteed or insured by the farmers
home administration, the valuation made by such administration or
administrator shall be deemed to have been made by a competent appraiser for
the purposes of this subsection.
    (2)  An insurer shall not make or acquire a loan or loans upon the
security of any one (1) parcel of real property in aggregate amount in excess
of ten thousand dollars ($10,000) or more than the amount permissible under
section 41-706(1), Idaho Code, (investment in securities, etc., of any one
person), whichever is the greater.