Mortgage Note Exemption

01. Investment Contract or Profit-Sharing Agreement. The exemption specified in Section 30-14- 202(11), Idaho Code, shall not extend to any transaction in a security in the nature of an investment contract or profit- sharing agreement. (7-1-24) 02. Definition “Offered and Sold as a Unit.” As used in Section 30-14-202(11), Idaho Code, “offered and sold as a unit” means an offer and sale of the entire mortgage or other security agreement to a single purchaser at a single sale. (7-1-24)