Idaho Administrative Code
Title IDAPA 18 - Insurance, Department of
Rule 18.07.01 - RULES FOR ACQUIRING CONTROL, INSURANCE HOLDING COMPANY SYSTEMS, AND MUTUAL INSURANCE HOLDING COMPANIES
Section 18.07.01.010 - DEFINITIONS
Current through August 31, 2023
These definitions supplement those in Chapter 38, Title 41, Idaho Code: (4-6-23)
01. Affiliated Person. (4-6-23)
02. Domestic Mutual Insurance Company. A mutual insurer as defined in Section 41-302, Idaho Code, that is incorporated under Idaho law. (4-6-23)
03. Executive Officer. Chief executive officer, chief operating officer, chief financial officer, treasurer, secretary, controller, and any other individual performing functions corresponding to those performed by those officers under whatever title. (4-6-23)
04. Interested Person. Interested person means: (4-6-23)
05. Intermediate Holding Company. A subsidiary of a MHC or part of a MHC-controlled holding company system. (4-6-23)
06. Limited Application. A domestic mutual insurance company's application to reorganize as a MHC that will hold, at all times, all of the stock of its insurance subsidiaries. (4-6-23)
07. Member of the Immediate Family. Any parent, or child, and their spouses, siblings, including step and adoptive relationships. (4-6-23)
08. MHC. A mutual insurance holding company under Section 41-3824, Idaho Code. (4-6-23)
09. Plan of Reorganization. A plan to reorganize a domestic mutual insurance company by forming a MHC. (4-6-23)
10. Standard Application. A domestic mutual insurance company's application to reorganize as a MHC that may sell interests in its subsidiaries to third parties. (4-6-23)
11. Stock. Any security showing an equity interest in the issuing entity. (4-6-23)
12. Stock Offering. Any proposed sale, exchange, transfer or change of ownership of stock or of securities convertible into, or exchangeable or exercisable for, stock. "Stock offering" does not mean: (4-6-23)
13. Ultimate Controlling Person. A person not controlled by another person. (4-6-23)