2005 Idaho Code - 41-1325 — BORROWING MONEY FROM CLIENTS

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 13
                          TRADE PRACTICES AND FRAUDS
    41-1325.  BORROWING MONEY FROM CLIENTS. (1) An insurance producer who
borrows money, securities or anything of value from a client or customer,
unless the client or customer is a person engaged in the business of loaning
funds or is an immediate family member of the insurance producer, shall
complete a written loan agreement that sets forth the parties to the loan, the
purpose of the loan, the amount of the loan and the terms of the loan. All
parties to the loan must sign the loan agreement acknowledging the transaction
and must receive a copy of the loan agreement. The insurance producer shall
keep a record of the loan transaction until the loan is paid back in full. Any
release of the debt shall be in writing and signed by all parties to the
release.
    (2)  As used in this section, the term "immediate family member" means a
parent, mother-in-law, father-in-law, husband, wife, sister, brother,
brother-in-law, sister-in-law, son-in-law, daughter-in-law, or a son or
daughter.