2005 Idaho Code - 41-208 — PROHIBITED INTERESTS, REWARDS

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 2
                         THE DEPARTMENT OF INSURANCE
    41-208.  PROHIBITED INTERESTS, REWARDS. (1) The director or any deputy,
actuary, examiner, assistant or employee of the director shall not be a
director, officer, or employee of any insurer or be financially interested in
the business of any insurer, except as a policyholder or claimant under an
insurance policy or by reason of rights theretofore vested in commissions,
fees, or retirement benefits related to services theretofore performed; nor
shall any such individual engage in any other business or occupation
interfering with or inconsistent with the duties of his office or employment,
or serve on or under any political committee or take an active part in any
political campaign on behalf of any candidate or party; that as to matters
wherein a conflict of interests does not exist on the part of any such
individual, the director may employ or retain from time to time insurance
actuaries, examiners, accountants, attorneys or other technicians who are
independently practicing their professions even though from time to time
similarly employed or retained by insurers or others.
    (2)  Except as provided in section 41-209, [Idaho Code,] no person shall
directly or indirectly give or pay to the director, or any deputy, actuary,
examiner, assistant or employee of the director, and the director or his
deputy, actuary, examiner, assistant or employee shall not directly or
indirectly receive or accept, any fee, compensation, loan, gift, or other
thing of value in addition to the compensation and expense allowance provided
by law, for any service rendered or to be rendered as such director, deputy,
actuary, examiner, assistant or employee or in connection therewith, or for
services rendered or to be rendered in relation to legislation, or for extra
services rendered or to be rendered, or for any cause whatsoever related, to
any person who is subject to the supervision of the director under this code.
    (3)  Subsections (1) and (2) shall not be deemed to prohibit:
    (a)  Receipt by any such individual of fully vested commissions or fully
    vested retirement benefits to which he is entitled by reason of services
    performed prior to becoming director or prior to employment by the
    director; or
    (b)  Investment in shares of regulated diversified investment companies;
    or
    (c)  Mortgage loans made under customary terms and in the ordinary course
    of business.