Idaho § 41-1933 PARTICIPATING AND NONPARTICIPATING POLICIES — ACCOUNTING

Idaho Statutes

§ 41-1933 — PARTICIPATING AND NONPARTICIPATING POLICIES — ACCOUNTING

Idaho § 41-1933

Title 41INSURANCE

Ch. 19LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS

This text of Idaho § 41-1933 (PARTICIPATING AND NONPARTICIPATING POLICIES — ACCOUNTING) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 41-1933 (2026).

Text

(1)A life insurer issuing both participating and nonparticipating policies shall maintain a system of accounting which segregates the participating from the nonparticipating business and clearly shows the profits and losses upon each such category of business. The insurer’s annual statement as filed with the director under section 41-335 shall provide such information with respect to such categories as is called for in connection therewith.

(2)For the purposes of such accounting the insurer shall make a reasonable allocation as between the respective such categories of the expenses of such general operations or functions as are jointly shared. Any allocation of expense as between the respective categories shall be made upon a reasonable basis, to the end that each category shall bear a j

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(1) A life insurer issuing both participating and nonparticipating policies shall maintain a system of accounting which segregates the participating from the nonparticipating business and clearly shows the profits and losses upon each such category of business. The insurer’s annual statement as filed with the director under section 41-335 shall provide such information with respect to such categories as is called for in connection therewith.
(2) For the purposes of such accounting the insurer shall make a reasonable allocation as between the respective such categories of the expenses of such general operations or functions as are jointly shared. Any allocation of expense as between the respective categories shall be made upon a reasonable basis, to the end that each category shall bear a just portion of joint expense involved in the administration of the business of such category.
(3) No policy hereafter shall provide for, and no life insurer or representative shall hereafter knowingly offer or promise payment, credit, or distribution of participating "dividends", "earnings", "profits" or "savings", by whatever name called, to participating policies out of such profits, earnings or savings on nonparticipating policies. This provision shall not be deemed to restrict the generality of section 41-1314 (rebates, illegal inducements).