Terms Used In Idaho Code > Title 41 > Chapter 54 - Risk-Based Capital (Rbc) for Insurers Act

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corrective order: means an order issued by the director specifying corrective actions which the director has determined are required. See Idaho Code 41-5401
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Domestic insurer: means any insurer domiciled in this state. See Idaho Code 41-5401
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Foreign insurer: means any insurer not domiciled in this state. See Idaho Code 41-5401
• Health organization: means any hospital service corporation or professional service corporation licensed under chapter 34, title 41, Idaho Code. See Idaho Code 41-5401
• 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
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• NAIC: means the national association of insurance commissioners. See Idaho Code 41-5401
• 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
• person: includes a corporation as well as a natural person;