2016 Idaho Statutes
Title 41 - INSURANCE
Chapter 28 - ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS
Section 41-2870 - DEFINITIONS.

41-2870. Definitions. As used in this act:

(1) "Securities" mean instruments as defined in section 28-8-102(1)(a), Idaho Code.

(2) "Clearing corporation" means a corporation as defined in section 28-8-102(3), Idaho Code.

(3) "Direct participant" means a national bank, state bank or trust company which maintains an account in its name in a clearing corporation and through which an insurance company participates in a clearing corporation.

(4) "Federal reserve book-entry system" means the computerized systems sponsored by the United States department of the treasury and certain agencies and instrumentalities of the United States for holding and transferring securities of the United States government and such agencies and instrumentalities, respectively, in federal reserve banks through banks which are members of the federal reserve system.

(5) "Member bank" means a national bank, state bank or trust company which is a member of the federal reserve system and to which an insurance company participates in the federal reserve book entry system.

History:

[41-2870, added 1981, ch. 174, sec. 2, p. 308.]