2005 Idaho Code - 41-734 — SEPARATE ACCOUNT FUNDS

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 7
                                 INVESTMENTS
    41-734.  SEPARATE ACCOUNT FUNDS. The amounts allocated to each separate
account established by the insurer pursuant to any provision of the Idaho
Insurance Code (separate accounts), together with accumulations thereon may be
invested and reinvested in any class of investments which may be authorized in
the written contract or agreement without regard to any requirements or
limitations prescribed by this chapter. The investments in such separate
account or accounts shall not be taken into account in applying the investment
limitations applicable to other investments of the insurer.
    (2)  Except with the approval of the director and under such conditions as
to investments and other matters as he may prescribe, which shall recognize
the guaranteed nature of the benefits provided, reserves for (a) benefits
guaranteed as to dollar amount and duration and (b) funds guaranteed as to
principal amount or stated rate of interest shall not be maintained in a
separate account.