Section 18.07.01.010 - DEFINITIONSThese definitions supplement those in Chapter 38, Title 41, Idaho Code:
01.Affiliated Person.a. Any person directly or indirectly owning, controlling, or holding with power to vote, five percent (5%) or more of another person's outstanding voting securities; orb. Any person, five percent (5%) or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by another person; orc. Any person directly or indirectly controlling, controlled by, or under common control with, another person; ord. Any officer, director, partner, copartner, or employee of another person.02.Domestic Mutual Insurance Company. A mutual insurer as defined in Section 41-302, Idaho Code, that is incorporated under Idaho law.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.04.Interested Person. Interested person means:a. An affiliated person of another person or company; orb. A member of the immediate family of any natural person who is an affiliated person of another company; orc. Any person, partner or employee of any person who, at any time in a company's last two completed fiscal years, has acted as the company's lawyer; ord. Any natural person whom the Director, by order, finds to be an interested person because the person had, at any time during a company's last two completed fiscal years, a material business or professional relationship with that company or its principal executive officer.05.Intermediate Holding Company. A subsidiary of a MHC or part of a MHC-controlled holding company system.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.07.Member of the Immediate Family. Any parent, or child, and their spouses, siblings, including step and adoptive relationships.08.MHC. A mutual insurance holding company under Section 41-3824, Idaho Code.09.Plan of Reorganization. A plan to reorganize a domestic mutual insurance company by forming a MHC.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.11.Stock. Any security showing an equity interest in the issuing entity.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:a. An offering of preferred stock without ordinary voting rights that is not convertible or exchangeable into common stock; orb. A stock transfer between entities in a MHC system, including the MHC, intermediate holding company, and any insurance company subsidiaries.13.Ultimate Controlling Person. A person not controlled by another person.Idaho Admin. Code r. 18.07.01.010