Sections
Chapter 1 Scope of Insurance Code — General Provisions 41-101 – 41-121
Chapter 2 the Department of Insurance 41-201 – 41-298
Chapter 3 Authorization of Insurers and General Requirements 41-301 – 41-348
Chapter 4 Fees and Taxes 41-401 – 41-406
Chapter 5 Kinds of Insurance — Limits of Risk — Reinsurance 41-501 – 41-516
Chapter 6 Assets and Liabilities 41-601 – 41-616
Chapter 7 Investments 41-701 – 41-736
Chapter 8 Administration of Deposits 41-801 – 41-813
Chapter 9 Insurance Administrators 41-901 – 41-917
Chapter 10 Producer Licensing 41-1001 – 41-1097
Chapter 11 Adjusters 41-1101 – 41-1108
Chapter 12 Unauthorized Insurers and Surplus Lines 41-1201 – 41-1237
Chapter 13 Trade Practices and Frauds 41-1301 – 41-1338
Chapter 14 Property Insurance Rates 41-1401 – 41-1441
Chapter 15 Managing General Agents Act 41-1501 – 41-1507
Chapter 16 Worker’s Compensation Rates 41-1601 – 41-1626
Chapter 17 Business Transacted With Broker Controlled Insurer 41-1701 – 41-1706
Chapter 18 the Insurance Contract 41-1801 – 41-1852
Chapter 19 Life Insurance Policies and Annuity Contracts 41-1901 – 41-1965
Chapter 20 Group Life Insurance 41-2001 – 41-2026
Chapter 21 Disability Insurance Policies 41-2101 – 41-2146
Chapter 22 Group and Blanket Disability Insurance 41-2201 – 41-2223
Chapter 23 Credit Life and Credit Disability Insurance 41-2301 – 41-2316
Chapter 24 Property Insurance Contracts 41-2401
Chapter 25 Casualty Insurance Contracts 41-2501 – 41-2521
Chapter 26 Surety Insurance Contracts 41-2603 – 41-2613
Chapter 26A Mortgage Guaranty Insurance 41-2650 – 41-2656
Chapter 27 Title Insurance 41-2701 – 41-2714
Chapter 28 Organization and Corporate Procedures of Stock and Mutual Insurers 41-2801 – 41-2873
Chapter 29 Reciprocal Insurers 41-2901 – 41-2930
Chapter 30 Idaho Unclaimed Life Insurance Benefits Act 41-3001 – 41-3003
Chapter 31 County Mutual Insurers 41-3101 – 41-3119
Chapter 32 Fraternal Benefit Societies 41-3201 – 41-3239
Chapter 33 Insurers Supervision, Rehabilitation and Liquidation 41-3301 – 41-3360
Chapter 34 Hospital and Professional Service Corporations 41-3401 – 41-3444
Chapter 35 Insurance of Public Property and Risks 41-3502 – 41-3503
Chapter 36 Insurance Guaranty Association 41-3601 – 41-3621
Chapter 37 Idaho Hospital Liability Trust Act 41-3701 – 41-3729
Chapter 38 Acquisitions of Control and Insurance Holding Company Systems 41-3801 – 41-3825
Chapter 39 Managed Care Reform 41-3901 – 41-3940
Chapter 40 Self-Funded Health Care Plans 41-4001 – 41-4025
Chapter 41 Joint Public Agency Self-Funded Health Care Plans 41-4101 – 41-4125
Chapter 42 Individual Accident and Health Insurance Policies 41-4201 – 41-4207
Chapter 43 Idaho Life and Health Insurance Guaranty Association Act 41-4301 – 41-4320
Chapter 44 Medicare Supplement Insurance Minimum Standards 41-4401 – 41-4411
Chapter 46 Long-Term Care Insurance Act 41-4601 – 41-4611
Chapter 47 Small Employer Health Insurance Availability Act 41-4701 – 41-4716
Chapter 48 Risk Retention Groups 41-4801 – 41-4816
Chapter 49 Petroleum Clean Water Trust Fund Act 41-4901 – 41-4946
Chapter 51 Reinsurance Intermediary Act 41-5101 – 41-5111
Chapter 52 Individual Health Insurance Availability Act 41-5201 – 41-5212
Chapter 54 Risk-Based Capital (Rbc) for Insurers Act 41-5401 – 41-5413
Chapter 55 Idaho Individual High Risk Reinsurance Pool 41-5501 – 41-5509
Chapter 56 Prompt Payment of Claims 41-5601 – 41-5606
Chapter 57 Interstate Insurance Product Regulation Compact 41-5701 – 41-5702
Chapter 58 Public Adjuster Licensing Act 41-5801 – 41-5821
Chapter 59 Idaho Health Carrier External Review Act 41-5901 – 41-5917
Chapter 60 Immunization Assessments [Effective Until July 1, 2024] 41-6001 – 41-6008
Chapter 61 Idaho Health Insurance Exchange Act 41-6101 – 41-6109
Chapter 62 Idaho Motor Vehicle Service Contract Act 41-6201 – 41-6211
Chapter 63 Own Risk and Solvency Assessment 41-6301 – 41-6308
Chapter 64 Corporate Governance Annual Disclosure 41-6401 – 41-6406

Terms Used In Idaho Code > Title 41

  • Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;
Idaho Code 28-4-104
  • Account: means any of the three (3) accounts maintained pursuant to section 41-4306, Idaho Code. See Idaho Code 41-4305
  • Accredited state: means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the national association of insurance commissioners (NAIC). See Idaho Code 41-1702
  • Action: as used in this chapter , shall include nonaction or the failure to take action. See Idaho Code 41-291
  • Actuarial certification: means a written statement by a member of the American academy of actuaries or other individual acceptable to the director that a small employer carrier is in compliance with the provisions of section 41-4706, Idaho Code, based upon the person’s examination and including a review of the appropriate records and the actuarial assumptions and methods used by the small employer carrier in establishing premium rates for applicable health benefit plans. See Idaho Code 41-4703
  • Actuarial certification: means a written statement by a member of the American academy of actuaries or other individual acceptable to the director that an individual carrier is in compliance with the provisions of section 41-5206, Idaho Code, based upon the person’s examination and including a review of the appropriate records and the actuarial assumptions and methods used by the individual carrier in establishing premium rates for applicable health benefit plans. See Idaho Code 41-5203
  • Actuary: means a person who is a member in good standing of the American academy of actuaries. See Idaho Code 41-5102
  • Adjusted RBC report: means an RBC report which has been adjusted by the director in accordance with section 41-5402(5), Idaho Code. See Idaho Code 41-5401
  • Administrator: means a person, other than a board member, employed by the board to administer a joint public agency self-funded plan. See Idaho Code 41-4102
  • Advisory organization: means every group, association, or other organization of insurers, whether located within or outside this state, which prepares policy forms or makes underwriting rules incident to but not including the making of rates, rating plans or rating systems or which collects and furnishes to authorized insurers or rating organizations loss or expense statistics or other statistical information and data and acts in an advisory, as distinguished from a rate-making, capacity. See Idaho Code 41-1436
  • affiliated: means any entity or person who directly or indirectly through one (1) or more intermediaries, controls or is controlled by, or is under common control with, a specified entity or person. See Idaho Code 41-4703
  • affiliated: means any entity or person who directly or indirectly through one (1) or more intermediaries, controls or is controlled by, or is under common control with, a specified entity or person. See Idaho Code 41-5203
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Agent: means a producer as defined in section 41-1003(8), Idaho Code. See Idaho Code 41-4703
  • Agent: means a producer as defined in section 41-1003(8), Idaho Code. See Idaho Code 41-5203
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • assets: means all investments held in the name of the trust as permitted by section 41-4009, Idaho Code. See Idaho Code 41-4018
  • Association: means the Idaho life and health insurance guaranty association. See Idaho Code 41-4305
  • Attorney: as used in this chapter , refers to the attorney in fact of a reciprocal insurer. See Idaho Code 41-2907
  • Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
  • authorized: when used in the context of assessments, means a resolution by the board of directors has been passed whereby an assessment will be called immediately or in the future from member insurers for a specified amount. See Idaho Code 41-4305
  • Authorized agencies: shall mean :
  • Idaho Code 41-291
  • Authorized control level RBC: means the number determined under the risk-based capital formula in accordance with the RBC instructions;
  • Idaho Code 41-5401
  • Bailee: means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. See Idaho Code 28-7-102
  • Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions;
  • Idaho Code 28-4-104
  • Base premium rate: means , for each class of business as to a rating period, the lowest premium rate charged or that could have been charged under a rating system for that class of business by the small employer carrier to small employers with similar case characteristics for health benefit plans with the same or similar coverage. See Idaho Code 41-4703
  • Base premium rate: means , as to a rating period, the lowest premium rate charged or that could have been charged under a rating system by the individual carrier to individuals with similar case characteristics for health benefit plans with the same or similar coverage. See Idaho Code 41-5203
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Beneficiary: means a policyholder, subscriber, member, employer or other person who is eligible for benefits under a contract providing hospital, surgical, or medical expense coverage or a managed care organization policy or agreement under which a third party payer agrees to reimburse for covered health care services rendered to beneficiaries in accordance with the benefits contract. See Idaho Code 41-5601
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Beneficiary: means any individual entitled, under the joint public agency self-funded plan, to payment by the trust fund of any part of all of the cost of any health care service rendered to him. See Idaho Code 41-4102
  • Benefit contract: shall mean the agreement for provision of benefits authorized by section 41-3216, Idaho Code, as that agreement is described in section 41-3219(1), Idaho Code. See Idaho Code 41-3204
  • Benefit member: shall mean an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract. See Idaho Code 41-3204
  • Benefit plan: means a specific employee, union or association of natural persons benefit plan. See Idaho Code 41-4305
  • Board: means the board of directors of the Idaho individual high risk reinsurance pool established in this chapter and the Idaho small employer health reinsurance program established in section 41-4711, Idaho Code. See Idaho Code 41-5501
  • Board: means the Idaho immunization assessment board created by section 41-6003, Idaho Code. See Idaho Code 41-6002
  • Board: means the board of directors of the small employer reinsurance program and the individual high risk reinsurance pool as provided for in section 41-5502, Idaho Code. See Idaho Code 41-4703
  • Broker: means a surplus line broker duly licensed as such under this chapter, including resident surplus line brokers and nonresident surplus line brokers. See Idaho Code 41-1213
  • Broker: means an insurance broker or brokers or any other person, firm, association or corporation, when, for any compensation, commission or other thing of value, such person, firm, association or corporation acts or aids in any manner in soliciting, negotiating or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association or corporation. See Idaho Code 41-1702
  • Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership or other legal entity. See Idaho Code 41-5802
  • called: when used in the context of assessments, means that a notice has been issued by the association to member insurers requiring that an authorized assessment be paid within the time frame set forth within the notice. See Idaho Code 41-4305
  • Carrier: means any entity that provides, or is authorized to provide, health insurance in this state. See Idaho Code 41-5501
  • carrier: includes an insurance company, a hospital or professional service corporation, a fraternal benefit society, a managed care organization, entities that provide excess or stop-loss insurance, and persons or entities required to be registered with the director under chapter 9, title 41, Idaho Code. See Idaho Code 41-6002
  • Carrier: means any entity that provides, or is authorized to provide, health insurance in this state. See Idaho Code 41-4703
  • Carrier: means any entity that provides health insurance in this state. See Idaho Code 41-5203
  • Case characteristics: means demographic or other objective characteristics of a small employer that are considered by the small employer carrier in the determination of premium rates for the small employer, provided that claim experience, health status and duration of coverage shall not be case characteristics for the purposes of this chapter. See Idaho Code 41-4703
  • Case characteristics: means demographic or other objective characteristics of an individual that are considered by the individual carrier in the determination of premium rates for the individual, provided that claim experience, health status and duration of coverage shall not be case characteristics for the purposes of this chapter. See Idaho Code 41-5203
  • Catastrophic health benefit plan: means a higher limit health benefit plan developed pursuant to section 41-4712, Idaho Code. See Idaho Code 41-4703
  • Certificate: shall mean the document issued as written evidence of the benefit contract. See Idaho Code 41-3204
  • CGAD: means a confidential report filed by the insurer or insurance group made in accordance with the requirements of this chapter. See Idaho Code 41-6402
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Child support: means a legally enforceable obligation assessed against an individual for the support of a child which shall include medical care, including health insurance premiums for the child, and any amount owing under an order for support during a period in which public assistance was expended. See Idaho Code 28-4-628
  • Class of business: means all or a separate grouping of small employers established pursuant to section 41-4705, Idaho Code. See Idaho Code 41-4703
  • Clearing house: means an association of banks or other payors regularly clearing items;
  • Idaho Code 28-4-104
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Company action level RBC: means , with respect to any insurer, the product of 2. See Idaho Code 41-5401
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: means an annuity contract. See Idaho Code 41-3001
  • contract owner: means the person who is identified as the legal owner under the terms of the policy or contract or who is otherwise vested with legal title to the policy or contract through a valid assignment completed in accordance with the terms of the policy or contract and properly recorded as the owner on the books of the insurer. See Idaho Code 41-4305
  • Contribution: means the amount paid or payable by the employer or employee into the trust fund. See Idaho Code 41-4102
  • controlled: has the meaning ascribed in section 41-3802(2), Idaho Code. See Idaho Code 41-1702
  • Controlled insurer: means a licensed insurer which is controlled, directly or indirectly, by a broker. See Idaho Code 41-1702
  • Controlling broker: means a broker who, directly or indirectly, controls an insurer. See Idaho Code 41-1702
  • Controlling person: means any person, firm, association or corporation who directly or indirectly has the power to direct or cause to be directed, the management, control or activities of the reinsurance intermediary. See Idaho Code 41-5102
  • Corrective order: means an order issued by the director specifying corrective actions which the director has determined are required. See Idaho Code 41-5401
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Covered policy: means a policy or contract or portion of a policy or contract for which coverage is provided under section 41-4303, Idaho Code. See Idaho Code 41-4305
  • Cross examine: Questioning of a witness by the attorney for the other side.
  • Customer: means any person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank;
  • Idaho Code 28-4-104
  • Death master file: means the United States social security administration’s death master file or any other database or service that is at least as comprehensive as the United States social security administration’s death master file for determining that a person has reportedly died. See Idaho Code 41-3001
  • Death master file match: means a search of the death master file that results in a match of the social security number or the name and date of birth of an insured, annuity owner or retained asset account holder. See Idaho Code 41-3001
  • Delinquency: means unpaid support for a minor child or spouse which has accrued under an order. See Idaho Code 28-4-628
  • Department: means the department of insurance. See Idaho Code 41-5601
  • Department: means the department of health and welfare. See Idaho Code 28-4-628
  • Designated responsible producer: means the individual licensed producer responsible for ensuring compliance by the limited lines travel insurance producer with travel insurance laws and rules of the state, as set forth in section 41-1092(2)(c), Idaho Code. See Idaho Code 41-1091
  • Director: means the director of the department of insurance of the state of Idaho. See Idaho Code 41-5501
  • Director: means the director of the department of insurance. See Idaho Code 41-5601
  • Director: means the director of the department of insurance of the state of Idaho. See Idaho Code 41-6002
  • Director: means the director of the Idaho department of insurance;
  • Idaho Code 41-6203
  • Director: shall mean the director of the department of insurance of this state. See Idaho Code 41-3204
  • Director: means the director of the department of insurance of this state. See Idaho Code 41-4102
  • Director: means the director of the Idaho department of insurance. See Idaho Code 41-4305
  • Director: means the director of the department of insurance of the state of Idaho. See Idaho Code 41-4703
  • Director: means the director of the department of insurance of this state or the director, commissioner, or superintendent of the department of insurance of any other state. See Idaho Code 41-4803
  • Director: means the director of the department of insurance of the state of Idaho. See Idaho Code 41-5203
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (section 28-8-102) or instructions for uncertificated securities (section 28-8-102), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft;
  • Idaho Code 28-4-104
  • Domestic insurer: means any insurer domiciled in this state. See Idaho Code 41-5401
  • Donor: The person who makes a gift.
  • Draft: means a draft as defined in section 28-3-104 or an item, other than an instrument, that is an order;
  • Idaho Code 28-4-104
  • Drawee: means a person ordered in a draft to make payment;
  • Idaho Code 28-4-104
  • Electronic claim: means a claim that is transmitted through the use of electronic media, which includes the internet, extranet, leased lines, dial-up lines, private networks, and those transmissions that are physically moved from one (1) location to another using magnetic tape, disk or compact disk media. See Idaho Code 41-5601
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Eligible employee: means an employee who works on a full-time basis and has a normal work week of thirty (30) or more hours or, by agreement between the employer and the carrier, an employee who works between twenty (20) and thirty (30) hours per week. See Idaho Code 41-4703
  • Eligible individual: means an Idaho resident individual or dependent of an Idaho resident who is:
  • Idaho Code 41-5501
  • Eligible individual: means an Idaho resident individual or dependent of an Idaho resident:
  • Idaho Code 41-5203
  • Enterprise risk: means any activity, circumstance, event or series of events involving one (1) or more affiliates of an insurer that, if not remedied promptly, is likely to have a material adverse effect upon the financial condition or liquidity of the insurer or its insurance holding company system as a whole including, but not limited to, anything that would cause the insurer’s risk-based capital to fall into company action level as set forth in section 41-5403, Idaho Code, or would cause the insurer to be in hazardous financial condition as set forth by rule in IDAPA 18. See Idaho Code 41-3802
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Established geographic service area: means a geographic area, as approved by the director and based on the carrier’s certificate of authority to transact insurance in this state, within which the carrier is authorized to provide coverage. See Idaho Code 41-4703
  • Established geographic service area: means a geographic area, as approved by the director and based on the carrier’s certificate of authority to transact insurance in this state, within which the carrier is authorized to provide coverage. See Idaho Code 41-5203
  • Exempt commercial purchaser: means any person purchasing commercial insurance who, at the time of placement, meets the following requirements:
  • Idaho Code 41-1213
  • Export: means to place in an unauthorized insurer under this surplus line law insurance covering a subject of insurance resident, located, or to be performed in Idaho. See Idaho Code 41-1213
  • Extra-contractual claims: shall include , for example, claims relating to bad faith in the payment of claims, punitive or exemplary damages or attorney’s fees and costs. See Idaho Code 41-4305
  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Financial loss: includes , but is not limited to, loss of earnings, out-of-pocket and other expenses, repair and replacement costs and claims payments. See Idaho Code 41-291
  • Fingerprints: means an impression of the lines on the finger taken for purpose of identification. See Idaho Code 41-5802
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Foreign insurer: means any insurer not domiciled in this state. See Idaho Code 41-5401
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fund: means the Idaho immunization dedicated vaccine fund created in section 41-6007, Idaho Code. See Idaho Code 41-6002
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Idaho Code 28-7-102
  • Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Idaho Code 28-7-102
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Hazardous financial condition: means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able:
  • Idaho Code 41-4803
  • Health benefit plan: means any hospital or medical policy or certificate, any subscriber contract provided by a hospital or professional service corporation, or health maintenance organization subscriber contract. See Idaho Code 41-5501
  • Health benefit plan: means any hospital or medical policy or certificate, any subscriber contract provided by a hospital or professional service corporation, or managed care organization subscriber contract. See Idaho Code 41-4703
  • Health benefit plan: means any hospital or medical policy or certificate, any subscriber contract provided by a hospital or professional service corporation, or health maintenance organization subscriber contract. See Idaho Code 41-5203
  • Health organization: means any hospital service corporation or professional service corporation licensed under chapter 34, title 41, Idaho Code. See Idaho Code 41-5401
  • High risk medical condition: means a medical condition or diagnosis identified by the board in its plan of operation as making an individual eligible for reinsurance through the pool. See Idaho Code 41-5501
  • High risk pool plan: means an individual basic, standard, catastrophic A, catastrophic B, or HSA compatible health benefit plan issued pursuant to this chapter prior to April 1, 2017. See Idaho Code 41-5501
  • Home state: means the District of Columbia or any state or territory of the United States in which the public adjuster’s principal place of residence or principal place of business is located. See Idaho Code 41-5802
  • Home state: means :
  • Idaho Code 41-1213
  • Idaho immunization program: means that program administered by the Idaho department of health and welfare to provide vaccinations against diseases to Idaho children consistent with Idaho and federal law. See Idaho Code 41-6002
  • Immunity: means that no civil action may arise against any person for furnishing information pursuant to section 41-248, 41-258, 41-290, 41-292, 41-296 or 41-297, Idaho Code, where actual malice on the part of the insurance company, department of insurance, state fire marshal, authorized agency, their employees or agents, is not present. See Idaho Code 41-291
  • Impaired insurer: means a member insurer:
  • Idaho Code 41-4305
  • Income: means any form of payment to an individual, regardless of source, including, but not limited to, wages, salary, commission, compensation as an independent contractor, worker’s compensation, disability, veteran’s annuity and retirement benefits, and any other payments made by any person, private entity, federal or state government, any unit of local government, school district or any entity created by a public act. See Idaho Code 28-4-628
  • Index rate: means , for each class of business as to a rating period for small employers with similar case characteristics, the arithmetic average of the applicable base premium rate and the corresponding highest premium rate. See Idaho Code 41-4703
  • Index rate: means , as to a rating period for individuals with similar case characteristics, the arithmetic average of the applicable base premium rate and the corresponding highest premium rate. See Idaho Code 41-5203
  • Individual: means a natural person. See Idaho Code 41-5802
  • Individual basic health benefit plan: means a lower cost health benefit plan developed pursuant to chapter 55, title 41, Idaho Code, prior to April 1, 2017. See Idaho Code 41-5203
  • Individual carrier: means a carrier that offers individual health benefit plans. See Idaho Code 41-5501
  • Individual carrier: means a carrier that offers health benefit plans covering eligible individuals and their dependents. See Idaho Code 41-5203
  • Individual catastrophic A health benefit plan: means a higher limit health benefit plan developed pursuant to chapter 55, title 41, Idaho Code, prior to April 1, 2017. See Idaho Code 41-5203
  • Individual catastrophic B health benefit plan: means a health benefit plan with limits higher than an individual catastrophic A health benefit plan developed pursuant to chapter 55, title 41, Idaho Code, prior to April 1, 2017. See Idaho Code 41-5203
  • Individual HSA compatible health benefit plan: means a health savings account compatible health benefit plan developed pursuant to chapter 55, title 41, Idaho Code, prior to April 1, 2017. See Idaho Code 41-5203
  • Individual standard health benefit plan: means a health benefit plan developed pursuant to chapter 55, title 41, Idaho Code, prior to April 1, 2017. See Idaho Code 41-5203
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • insolvent: means the plan is unable to pay its obligations when they are due or that its assets do not exceed its liabilities. See Idaho Code 41-4018
  • Insolvent insurer: means a member insurer which, after the effective date of this chapter, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency. See Idaho Code 41-4305
  • Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, or any other arrangement for shifting and distributing risk which is determined to be insurance under this code. See Idaho Code 41-4803
  • Insurance group: means those insurers and affiliates included within an insurance holding company system as that term is defined in chapter 38, title 41, Idaho Code. See Idaho Code 41-6402
  • Insurance holding company system: means two (2) or more affiliated persons, one (1) or more of whom is an insurer. See Idaho Code 41-3802
  • insured: as used in this chapter , shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits, and rights provided therein. See Idaho Code 41-2130
  • Insurer: means any insurance company authorized to transact insurance business in this state and includes a fraternal benefit society and a health organization unless the context otherwise requires. See Idaho Code 41-5401
  • Insurer: means any insurer that sells hospital, medical, long-term care, or vision insurance policies or certificates and managed care organizations. See Idaho Code 41-5601
  • insurer: includes , but is not limited to:
  • Idaho Code 41-6402
  • Insurer: shall mean any insurance company contemplated by title 41, Idaho Code, any business operating as a self-insured for any purpose, the state insurance fund, and any self-insured as contemplated by title 72, Idaho Code. See Idaho Code 41-291
  • insurer: means any person, firm, association or corporation duly licensed to transact a property/casualty insurance business in this state. See Idaho Code 41-1702
  • Insurer: means any person, firm, association or corporation duly licensed in this state pursuant to the applicable provisions of the insurance law as an insurer. See Idaho Code 41-5102
  • Intellectual disability: means significantly subaverage general intellectual functioning that is accompanied by significant limitations in adaptive functioning in at least two (2) of the following skill areas: communication, self-care, home living, social or interpersonal skills, use of community resources, self-direction, functional academic skills, work, leisure, health and safety. See Idaho Code 73-114
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Idaho Code 28-7-102
  • Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Idaho Code 28-4-104
  • Joint powers agreement: means an agreement entered into between public agencies pursuant to chapter 23, title 67, Idaho Code. See Idaho Code 41-4102
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Late enrollee: means an eligible employee or dependent who requests enrollment in a health benefit plan of a small employer following the initial enrollment period during which the individual is entitled to enroll under the terms of the health benefit plan, provided that the initial enrollment period is a period of at least thirty (30) days. See Idaho Code 41-4703
  • Laws: shall mean the society’s articles of incorporation, constitution and bylaws, however designated. See Idaho Code 41-3204
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Liability: means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses because of injuries to other persons, damage to their property, or other damage or loss to such other persons resulting from or arising out of any business whether profit or nonprofit, trade, product, services including professional services, premises, or operations, or arising out of any activity of any state or local government, or any agency or political subdivision thereof, but does not include personal risk liability or with the exception of an employer’s legal liability with respect to its employees under the federal employers’ liability act (45 U. See Idaho Code 41-4803
  • Liability insurance policy: means a policy of insurance providing coverage for all contractual obligations incurred by a motor vehicle service contract provider under the terms of a motor vehicle service contract issued or sold by the motor vehicle service contract provider;
  • Idaho Code 41-6203
  • Licensed producer: means an agent, broker or reinsurance intermediary licensed pursuant to the applicable provision of the insurance law. See Idaho Code 41-5102
  • Limited lines travel insurance producer: means a person who is a limited lines producer as defined in section 41-1003, Idaho Code. See Idaho Code 41-1091
  • Lodge: shall mean subordinate member units of the society, known as camps, courts, councils, branches or by any other designation. See Idaho Code 41-3204
  • Major medical insurance: means , solely for purposes of this chapter, health insurance policies, contracts or certificates that are issued to provide hospital and medical-surgical coverage. See Idaho Code 41-4305
  • Mandatory control level RBC: means the product of . See Idaho Code 41-5401
  • Mechanical breakdown insurance: means a policy, contract or agreement that undertakes to perform or provide repair or replacement service, or indemnification for such service, for the operational or structural failure of a motor vehicle due to defect in materials or workmanship or normal wear and tear and that is issued by an insurance company authorized to do business in this state;
  • Idaho Code 41-6203
  • Member: means an insurer which participates in or is entitled to participate in the management of a rating, advisory or other organization. See Idaho Code 41-1436
  • Member insurer: means an insurer licensed or that holds a certificate of authority to transact in this state any kind of insurance for which coverage is provided under section 41-4303, Idaho Code, and includes an insurer whose license or certificate of authority in this state may have been suspended, revoked, not renewed or voluntarily withdrawn. See Idaho Code 41-4305
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Motor vehicle service contract: means a contract or agreement given for separately stated consideration that undertakes to perform or provide repair or replacement service, or indemnification for such service, for the operational or structural failure of a motor vehicle due to defect in materials or workmanship or normal wear and tear but shall not include mechanical breakdown insurance. See Idaho Code 41-6203
  • Motor vehicle service contract holder: means a person who purchases a motor vehicle service contract or is a permitted transferee;
  • Idaho Code 41-6203
  • Motor vehicle service contract provider: means a person who is contractually obligated to a motor vehicle service contract holder under the terms of a motor vehicle service contract;
  • Idaho Code 41-6203
  • NAIC: means the national association of insurance commissioners. See Idaho Code 41-5401
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Negative trend: means , with respect to a life and/or health insurer or a fraternal benefit society, a negative trend over a period of time, as determined in accordance with the "Trend Test Calculation" included in the life or fraternal RBC instructions. See Idaho Code 41-5401
  • New business premium rate: means , for each class of business as to a rating period, the lowest premium rate charged or offered or which could have been charged or offered by the small employer carrier to small employers with similar case characteristics for newly issued health benefit plans with the same or similar coverage. See Idaho Code 41-4703
  • New business premium rate: means , as to a rating period, the lowest premium rate charged or offered or which could have been charged or offered by the individual carrier to individuals with similar case characteristics for newly issued health benefit plans with the same or similar coverage. See Idaho Code 41-5203
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Obligee: means any person, state agency or bureau entitled by order to receive child support payments or child and spousal support payments. See Idaho Code 28-4-628
  • Obligor: means any person obligated by order to pay child or spousal support. See Idaho Code 28-4-628
  • Offer and disseminate: means providing general information, including a description of the coverage and price, as well as processing the application, collecting premiums and performing other activities permitted by the state. See Idaho Code 41-1091
  • Order: means a judgment, decree, order, or administrative ruling directing a person or persons to pay money for support of a minor child or a spouse. See Idaho Code 28-4-628
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Person: means an individual or a business entity. See Idaho Code 41-5802
  • Person: means an individual, company, association, organization, partnership, business trust, corporation or any other form of legal entity;
  • Idaho Code 41-6203
  • Person: means a natural person, company, corporation, unincorporated association, partnership, professional corporation and any other legal entity. See Idaho Code 41-291
  • Person: means an individual, a corporation, a limited liability company, a partnership, an association, a joint stock company, a business trust, an unincorporated organization, or any similar entity or any combination of the foregoing acting in concert, but shall not include any joint venture partnership exclusively engaged in owning, managing, leasing or developing real or tangible personal property. See Idaho Code 41-3802
  • Person: means any individual, corporation, association, firm, syndicate, organization or other entity. See Idaho Code 41-4102
  • Person: means an individual, corporation, limited liability company, partnership, association, governmental body or entity or voluntary organization. See Idaho Code 41-4305
  • plan: means any public agency plan established by a joint powers agreement and under which payment for any disability benefits not otherwise provided for under title 72, Idaho Code (worker’s compensation and related laws — industrial commission), medical, surgical, hospital, and other services for prevention, diagnosis, or treatment of any disease, injury, or bodily condition of an employee is, or is to be, regularly provided for or promised from funds created or maintained in whole or in part by contributions or payments thereto by a public agency employer, or by a public agency employer and the employees of the public agency, and not otherwise covered by insurance or contract with a health care service corporation, health maintenance organization, or similar other third party prepayment plan. See Idaho Code 41-4102
  • Plan of operation: means the plan of operation of the individual high risk reinsurance pool established pursuant to this chapter. See Idaho Code 41-5501
  • Plan of operation: means the plan of operation of the fund as established by the board. See Idaho Code 41-6002
  • Plan of operation: means the plan of operation of the program established pursuant to section 41-4711, Idaho Code. See Idaho Code 41-4703
  • Plan of operation or feasibility study: means an analysis which presents the expected activities and results of a risk retention group, including, at a minimum:
  • Idaho Code 41-4803
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Policy: means any policy or certificate of life insurance that provides a death benefit. See Idaho Code 41-3001
  • Pool: means the Idaho [individual] high risk reinsurance pool. See Idaho Code 41-5501
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Practitioner: means a licensee of this state authorized to practice medicine and surgery, psychology, chiropractic, law or any other licensee of the state whose services are compensated, directly or indirectly, by insurance proceeds, or a licensee similarly licensed in other states and nations or the practitioner of any nonmedical treatment rendered in accordance with a recognized religious method of healing. See Idaho Code 41-291
  • Practitioner or facility: means any physician, hospital or other person or facility licensed or otherwise authorized to furnish health care services. See Idaho Code 41-5601
  • Premium: means all moneys paid by a small employer and eligible employees as a condition of receiving coverage from a small employer carrier, including any fees or other contributions associated with the health benefit plan. See Idaho Code 41-4703
  • Premium: means all moneys paid by an individual and eligible dependents as a condition of receiving coverage from a carrier, including any fees or other contributions associated with the health benefit plan. See Idaho Code 41-5203
  • Premiums: shall mean premiums, rates, dues or other required contributions by whatever name known, which are payable under the certificate. See Idaho Code 41-3204
  • Premiums: means amounts or considerations, by whatever name called, received on covered policies or contracts less returned premiums, considerations and deposits and less dividends and experience credits. See Idaho Code 41-4305
  • principal place of business: means the state where the insured maintains its headquarters and where the insured’s high level officers direct, control and coordinate the business activities of the insured. See Idaho Code 41-1213
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Product liability: means liability for damages because of any personal injury, death, emotional harm, consequential economic damage or property damage (including damages resulting from the loss of use of property) arising out of the manufacture, design, importation, distribution, packaging, labeling, lease, or sale of a product, but does not include the liability of any person for those damages if the product involved was in the possession of such a person when the incident giving rise to the claim occurred. See Idaho Code 41-4803
  • Program: means the Idaho small employer reinsurance program created in section 41-4711, Idaho Code. See Idaho Code 41-4703
  • Property and casualty insurer: means any insurer licensed under chapter 3, title 41, Idaho Code, to transact property and casualty insurance, but shall not include monoline mortgage guaranty insurers, financial guaranty insurers, title insurers, farm and county mutuals and domestic reciprocal insurers with fewer than seven (7) subscribers which insure only worker’s compensation risk in this state and which only issue fully assessable policies. See Idaho Code 41-5401
  • Public adjuster: means any person who, for compensation or any other thing of value on behalf of the insured:
  • Idaho Code 41-5802
  • Public agency: means any city, county or political subdivision of this state, including, but not limited to: counties; school districts; highway districts; port authorities; instrumentalities of counties, county hospitals, cities or any political subdivision created under the laws of the state of Idaho; and the state of Idaho and any agency of the state government. See Idaho Code 41-4102
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Purchasing group: means any group which:
  • Idaho Code 41-4803
  • Qualified United States financial institution: means for purposes of this chapter, a qualified United States financial institution that:
  • Idaho Code 41-5102
  • Rating organization: means every person, other than an authorized insurer, whether located within or outside this state, who has as his object or purpose the making of rates, rating plans or rating systems. See Idaho Code 41-1436
  • Rating period: means the calendar period for which premium rates established by a small employer carrier are assumed to be in effect. See Idaho Code 41-4703
  • Rating period: means the calendar period for which premium rates established by a carrier are assumed to be in effect. See Idaho Code 41-5203
  • RBC: means risk-based capital. See Idaho Code 41-5401
  • RBC instructions: means the RBC report, including risk-based capital instructions adopted by the NAIC, as such RBC instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. See Idaho Code 41-5401
  • RBC plan: means a comprehensive financial plan containing the elements specified in section 41-5403(2), Idaho Code. See Idaho Code 41-5401
  • RBC report: means the report required in section 41-5402, Idaho Code. See Idaho Code 41-5401
  • Receivership court: means the court in the insolvent or impaired insurer’s state having jurisdiction over the conservation, rehabilitation or liquidation of the insurer. See Idaho Code 41-4305
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Idaho Code 28-7-102
  • Registered mail: includes certified mail. See Idaho Code 73-114
  • Regulatory action level RBC: means the product of 1. See Idaho Code 41-5401
  • Reinsurance intermediary: means a reinsurance intermediary-broker, or a reinsurance intermediary-manager as these terms are defined in subsections (7) and (8) of this section. See Idaho Code 41-5102
  • Reinsurance premium: means the premium set by the board pursuant to section 41-5506, Idaho Code, to be paid by a reinsuring carrier for eligible individuals ceded to the pool. See Idaho Code 41-5501
  • Reinsurer: means any person, firm, association or corporation duly licensed or authorized to do business in this state pursuant to the applicable provisions of the insurance law as an insurer with the authority to assume reinsurance. See Idaho Code 41-5102
  • Reinsuring carrier: means a carrier participating in the individual high risk reinsurance pool established by this chapter. See Idaho Code 41-5501
  • Reinsuring carrier: means a small employer carrier participating in the reinsurance program pursuant to section 41-4711, Idaho Code. See Idaho Code 41-4703
  • Reinsuring carrier: means a carrier participating in the Idaho individual high risk reinsurance pool established in chapter 55, title 41, Idaho Code. See Idaho Code 41-5203
  • Relevant: means information having any tendency to make the existence of any fact that is of consequence to the investigation or determination of the issue more probable or less probable than it would be without the evidence. See Idaho Code 41-291
  • Resident: means a person to whom a contractual obligation is owed and who resides in this state on the date of entry of a court order that determines a member insurer to be an impaired insurer or a court order that determines a member insurer to be an insolvent insurer. See Idaho Code 41-4305
  • Restricted network provision: means any provision of a health benefit plan that conditions the payment of benefits, in whole or in part, on the use of health care providers that have entered into a contractual arrangement with the carrier to provide health care services to covered individuals. See Idaho Code 41-4703
  • Restricted network provision: means any provision of a health benefit plan that conditions the payment of benefits, in whole or in part, on the use of health care providers that have entered into a contractual arrangement with the carrier to provide health care services to covered individuals. See Idaho Code 41-5203
  • Retained asset account: means any mechanism whereby the settlement of proceeds payable under a policy or contract is accomplished by the insurer or an entity acting on behalf of the insurer depositing the proceeds into an account with check or draft writing privileges, where those proceeds are retained by the insurer or its agent, pursuant to a supplementary contract not involving annuity benefits other than death benefits. See Idaho Code 41-3001
  • Risk retention group: means any corporation or other limited liability association:
  • Idaho Code 41-4803
  • Risk-assuming carrier: means a small employer carrier whose application is approved by the director pursuant to section 41-4710, Idaho Code. See Idaho Code 41-4703
  • Risk-assuming carrier: means a carrier whose application is approved by the director pursuant to section 41-5210, Idaho Code. See Idaho Code 41-5203
  • Rules: shall mean all rules, regulations or resolutions adopted by the supreme governing body or board of directors which are intended to have general application to the members of the society. See Idaho Code 41-3204
  • Runner: means a person who procures, or persons working in conjunction with each other who procure, clients at the direction of, or in cooperation with, a person who, with the intent to deceive or defraud, performs or obtains a service or benefit under a contract of insurance or asserts a claim against an insured. See Idaho Code 41-291
  • Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
  • Small employer: means any person, firm, corporation, partnership or association that is actively engaged in business that employed an average of at least two (2) but no more than fifty (50) eligible employees on business days during the preceding calendar year and that employs at least two (2) but no more than fifty (50) eligible employees on the first day of the plan year, the majority of whom were and are employed within this state. See Idaho Code 41-4703
  • Small employer basic health benefit plan: means a lower cost health benefit plan developed pursuant to section 41-4712, Idaho Code. See Idaho Code 41-4703
  • Small employer carrier: means a carrier that offers health benefit plans covering eligible employees of one (1) or more small employers in this state. See Idaho Code 41-4703
  • Small employer catastrophic health benefit plan: means a higher limit health benefit plan developed pursuant to section 41-4712, Idaho Code. See Idaho Code 41-4703
  • Small employer standard health benefit plan: means a health benefit plan developed pursuant to section 41-4712, Idaho Code. See Idaho Code 41-4703
  • Society: shall mean fraternal benefit society, unless otherwise indicated. See Idaho Code 41-3204
  • State: means a state or a commonwealth of the United States, the District of Columbia, Puerto Rico, and a United States possession, territory or protectorate. See Idaho Code 41-4305
  • State: means any state of the United States or the District of Columbia. See Idaho Code 41-4803
  • Statement: includes , but is not limited to, any of the following regardless of how it is made and in what format it is contained:
  • Idaho Code 41-291
  • Structured settlement annuity: means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant. See Idaho Code 41-4305
  • Subscriber: means an insurer which is furnished at its request:
  • Idaho Code 41-1436
  • Subsidiary: means a specified person who is an affiliate controlled by such person directly or indirectly through one (1) or more intermediaries. See Idaho Code 41-3802
  • Surplus: means the excess of the assets of a self-funded plan minus the liabilities of the plan, provided the liabilities of a self-funded plan shall include the claims liability of the plan. See Idaho Code 41-4102
  • Theft protection program: means a device or system that:
  • Idaho Code 41-6203
  • To be in violation: means that the reinsurance intermediary, insurer or reinsurer for whom the reinsurance intermediary was acting failed to substantially comply with the provision of this chapter. See Idaho Code 41-5102
  • Total adjusted capital: means the sum of:
  • Idaho Code 41-5401
  • Travel insurance: means insurance coverage for personal risks incident to planned travel including, but not limited to:
  • Idaho Code 41-1091
  • Travel retailer: means a business entity that makes, arranges or offers travel services and may offer and disseminate travel insurance as a service to its customers on behalf of and under the direction of a limited lines travel insurance producer. See Idaho Code 41-1091
  • Trend Test Calculation: include d in the life or fraternal RBC instructions. See Idaho Code 41-5401
  • Trust fund: means a fund established under a joint public agency self-funded plan for receipt of contributions of employers and employees and payment of or with respect to health care service costs of beneficiaries. See Idaho Code 41-4102
  • Unallocated annuity contract: means an annuity contract or group annuity certificate which is not issued to and owned by an individual, except to the extent of any annuity benefits guaranteed to an individual by an insurer under the contract or certificate. See Idaho Code 41-4305
  • under common control with: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or a corporate office held by the person. See Idaho Code 41-3802
  • Uphold: The decision of an appellate court not to reverse a lower court decision.
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Vaccine: means any preparations of killed microorganisms, living attenuated organisms or living fully virulent organisms that are approved by the federal food and drug administration and recommended by the federal advisory committee on immunization practices of the centers for disease control and prevention. See Idaho Code 41-6002
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • Voting security: means any security convertible into or evidencing a right to acquire a voting security. See Idaho Code 41-3802
  • Warehouse: means a person engaged in the business of storing goods for hire. See Idaho Code 28-7-102