Section 41-1962 – PROHIBITED PRACTICES AND CONFLICTS OF INTEREST.
41-1962. PROHIBITED PRACTICES AND CONFLICTS OF INTEREST. (1) It is a violation of the provisions of sections 41-1950 through 41-1965, Idaho Code, for any person to engage in any act that constitutes or promotes a STOLI regarding any resident of this state. (2) With respect to any life settlement contract or insurance policy, no life […]
Section 41-1963 – ADVERTISING FOR LIFE SETTLEMENTS.
41-1963. ADVERTISING FOR LIFE SETTLEMENTS. No person required to be licensed pursuant to sections 41-1950 through 41-1965, Idaho Code, shall engage in any false or misleading advertising, solicitation, or practice. In no case shall a life settlement broker or provider directly or indirectly market, advertise, solicit or otherwise promote the purchase of a new policy […]
Section 41-1964 – PENALTY — UNFAIR TRADE PRACTICES.
41-1964. PENALTY — UNFAIR TRADE PRACTICES. A violation of the provisions of sections 41-1950 through 41-1965, Idaho Code, shall be considered an unfair trade practice under chapter 13, title 41, Idaho Code, subject to the penalties contained in that chapter. History: [41-1964, added 2009, ch. 69, sec. 1, p. 204.]
Section 41-1965 – AUTHORITY TO PROMULGATE RULES.
41-1965. AUTHORITY TO PROMULGATE RULES. The director shall have the authority to promulgate rules implementing the provisions of sections 41-1950 through 41-1964, Idaho Code. History: [41-1965, added 2009, ch. 69, sec. 1, p. 204.]
Section 41-1935 – LIFE INSURANCE AND ANNUITIES — TWENTY DAY FREE EXAMINATION.
41-1935. LIFE INSURANCE AND ANNUITIES — TWENTY DAY FREE EXAMINATION. (1) Every life insurance policy to which the provisions of section 41-1927, Idaho Code, apply and every annuity contract shall contain a provision therein or in a separate rider attached thereto when delivered, stating in substance that the person to whom the life insurance policy […]
Section 41-1936 – SEPARATE ACCOUNTS — OPERATION AND MANAGEMENT.
41-1936. SEPARATE ACCOUNTS — OPERATION AND MANAGEMENT. (1) A domestic life insurer may, by or pursuant to resolution of its board of directors, establish one or more separate accounts, and may allocate thereto amounts to provide for life insurance or annuities (and benefits incidental thereto), payable in fixed or in variable amounts or in both. […]
Section 41-1937 – VARIABLE CONTRACTS — STATEMENT OF ESSENTIAL FEATURES.
41-1937. VARIABLE CONTRACTS — STATEMENT OF ESSENTIAL FEATURES. (1) Any variable contract providing benefits payable in variable amounts delivered or issued for delivery in this state shall contain a statement of the essential features of the procedures to be followed by the insurer in determining the dollar amount of such variable benefits. Any such contract […]
Section 41-1938 – VARIABLE CONTRACTS — AUTHORITY OF INSURER TO ISSUE.
41-1938. VARIABLE CONTRACTS — AUTHORITY OF INSURER TO ISSUE. No insurer shall deliver or issue for delivery in this state contracts authorized under section 41-1936, Idaho Code, unless it is authorized or organized to do a life insurance or annuity business in this state, and the director is satisfied that its condition or method of […]
Section 41-1939 – VARIABLE CONTRACTS — REGULATION THEREOF.
41-1939. VARIABLE CONTRACTS — REGULATION THEREOF. (1) Notwithstanding any other provision of law, the director shall have sole and exclusive authority to regulate the issuance and sale of variable contracts and to provide for licensing of persons selling such contracts, and to issue such reasonable rules and regulations as may be appropriate to carry out […]
Section 41-1940 – ANNUITY CONSUMER PROTECTIONS ACT.
41-1940. ANNUITY CONSUMER PROTECTIONS ACT. (1) Sections 41-1940 through 41-1943, Idaho Code, shall be known and may be cited as the "Annuity Consumer Protections Act." (2) As used in the annuity consumer protections act: (a) "Annuity" means an annuity that is an insurance product under state law that is individually solicited, whether classified as an […]