US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 8
                          ADMINISTRATION OF DEPOSITS
    41-803.  SECURITIES ELIGIBLE FOR DEPOSIT. (1) All such deposits required
under sections 41-316 and 41-316A, Idaho Code, for authority to transact
insurance in this state shall consist of certificates of deposit issued by
solvent banks, or any combination of securities the market value of which is
readily ascertainable and, if negotiable by delivery or assignment, of the
kinds described in the following sections:
    (a)  Section 41-707 (public obligations);
    (b)  Section 41-708 (securities of certain federal agencies);
    (c)  Section 41-709 (irrigation district obligations);
    (d)  Section 41-710 (international bank);
    (e)  Section 41-711 (corporate obligations);
    (f)  Section 41-717 (equipment trust obligations); and
    (g)  Section 41-720 (savings and share accounts).
    (2)  Except that the director shall accept as a security eligible for
deposit and recognize as part of the deposit any particular valid and
enforceable real estate mortgage already lawfully so on deposit at the
effective date of this code, so long as the mortgage continues to qualify for
investment of the insurer's funds therein as under chapter 7 of this code and
is not in default in any particular.
    (3)  All such deposits required of a domestic insurer pursuant to the laws
of another state, province or country shall be comprised of securities, if
negotiable by delivery or assignment, of the kind or kinds required or
permitted by the laws of such state, province or country, except stocks,
mortgages of any kind and real estate.
    (4)  Deposits of foreign insurers made in this state under the retaliatory
provision, section 41-340, Idaho Code, shall consist of such securities or
assets as are required by the director pursuant to such provision.