Section 26-1801 – SHORT TITLE.
26-1801. SHORT TITLE. This chapter shall be known as the "Idaho Savings Bank Act." History: [26-1801, added 1997, ch. 310, sec. 3, p. 918.]
Section 26-1802 – PURPOSE.
26-1802. PURPOSE. The purpose of this act is to allow any federal savings bank, federal mutual savings bank or federal savings and loan association, located in Idaho to convert its charter to that of an Idaho bank, an Idaho stock savings bank or an Idaho mutual savings bank. Banks and credit unions chartered either under […]
Section 26-1803 – DEFINITIONS.
26-1803. DEFINITIONS. Unless the context requires otherwise, the terms below have the meaning assigned: (1) "Department" means the Idaho department of finance. (2) "Director" means the director of the Idaho department of finance. (3) "Mutual savings bank" means a savings bank owned by the members of the savings bank and operating under this act. (4) […]
Section 26-1804 – IDAHO BANK ACT AND GENERAL BUSINESS CORPORATION LAWS.
26-1804. IDAHO BANK ACT AND GENERAL BUSINESS CORPORATION LAWS. (1) Except as otherwise provided in this chapter, the Idaho bank act shall apply to all corporations converted and operating under this act. (2) Except as otherwise provided herein or in the Idaho bank act, the general business corporation laws of this state shall apply to […]
Section 26-1805 – PROHIBITIONS.
26-1805. PROHIBITIONS. Unless chartered under this act or federal law, it shall be unlawful for any person in this state to use in connection with a business name the term "savings bank" or words of similar import that lead the public reasonably to believe that the business so conducted is that of a savings bank. […]
Section 26-1806 – INSURANCE REQUIRED.
26-1806. INSURANCE REQUIRED. All savings banks shall obtain and maintain federal deposit insurance through an insurance corporation created by an act of Congress. History: [26-1806, added 1997, ch. 310, sec. 3, p. 918.]
Section 26-1807 – QUALIFICATION AS THRIFT INSTITUTION.
26-1807. QUALIFICATION AS THRIFT INSTITUTION. All savings banks shall qualify for and maintain the status of a thrift institution under the internal revenue code of 1986 and any amendments thereto. History: [26-1807, added 1997, ch. 310, sec. 3, p. 919.]
Section 26-1808 – TRUST POWERS.
26-1808. TRUST POWERS. Savings banks which have received a charter from the director authorizing the operation of a trust department may engage in the trust business in accordance with chapters 32 through 36, title 26, Idaho Code. History: [26-1808, added 1997, ch. 310, sec. 3, p. 919; am. 2000, ch. 288, sec. 7, p. 975.]
Section 26-1809 – POWERS.
26-1809. POWERS. In addition to the powers granted to banks under provisions of the Idaho bank act, and specifically section 26-1101, Idaho Code, savings banks may exercise any power or engage in any activity authorized either for federal savings banks or savings and loan associations or state savings banks or savings and loan associations. History: […]
Section 26-1810 – DEMAND DEPOSITS.
26-1810. DEMAND DEPOSITS. Savings banks may accept deposits subject to withdrawal or to be paid upon checks of the depositor. All such deposits shall be payable on demand, without notice, except when the deposit agreement provides otherwise. History: [26-1810, added 1997, ch. 310, sec. 3, p. 919.]
Section 26-1811 – MUTUAL SAVINGS BANKS — OWNERSHIP — MEMBERSHIP — DIRECTORS — CAPITAL.
26-1811. MUTUAL SAVINGS BANKS — OWNERSHIP — MEMBERSHIP — DIRECTORS — CAPITAL. (1) Members of a mutual savings bank are the owners of the mutual savings bank and shall possess voting rights and any other rights as are provided in the articles of incorporation or bylaws of the mutual savings bank. (2) The membership of […]
Section 26-1812 – CONVERSIONS.
26-1812. CONVERSIONS. All conversions from one (1) form of charter to another issued by the department shall be approved in advance in writing by the director. All conversion applications filed with the director involving savings banks, including conversion applications under section 26-1813, Idaho Code, shall include a plan for establishing and maintaining adequate capital to […]
Section 26-1813 – MUTUAL TO STOCK CONVERSIONS.
26-1813. MUTUAL TO STOCK CONVERSIONS. A mutual savings bank may change its form of organization to that of a stock savings bank by filing an application with the director. As part of the application, the savings bank will include a plan of conversion, which the director may approve, with or without amendment, if it appears […]
Section 26-1814 – ACQUISITIONS.
26-1814. ACQUISITIONS. All acquisitions shall be approved in advance in writing by the director. (1) A mutual or stock savings bank may acquire, as defined by section 26-2605, Idaho Code, a savings bank organized in the same form. (2) A stock savings bank may acquire or be acquired by either a state or national bank […]
Section 26-1815 – FOREIGN SAVINGS AND LOAN ASSOCIATIONS.
26-1815. FOREIGN SAVINGS AND LOAN ASSOCIATIONS. A savings and loan association or savings bank chartered and operating under the laws of another state which has received a valid permit from the director of finance to do business as a savings and loan association or savings bank within this state pursuant to an application filed with […]