TITLE 41

INSURANCE

CHAPTER 19

LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS

41-1950.  Short Title and Scope. (1) Sections 41-1950 through 41-1965, Idaho Code, may be cited as the "Life Settlements Act."

(2)  Nothing contained herein is intended to abrogate or conflict with the Idaho uniform securities act contained in chapter 14, title 30, Idaho Code, or supersede the duty of persons to comply with that or any other applicable law. Given the combined interest and regulation of life settlements by the department and the department of finance, the director and the director of the department of finance should cooperate in the exercise of discretionary acts and enforcement of the applicable laws within their respective authority and responsibility.

(3)  Unless clearly inapplicable, other provisions and chapters of title 41, Idaho Code, apply to licensees and persons subject to sections 41-1950 through 41-1965, Idaho Code, including, but not limited to, chapters 1 through 5, 10, 13, 18 and 19, title 41, Idaho Code. Specifically, section 41-220, Idaho Code, applies to licensees under sections 41-1950 through 41-1965, Idaho Code.

History:

[41-1950, added 2009, ch. 69, sec. 1, p. 192.]