26-2501. DEFINITION. "Loan broker" means any person, corporation, partnership or other business entity which offers for compensation, in this state, to arrange for a loan or other extension of credit. "Loan broker" includes a person, corporation, partnership or other business entity which, for compensation or for no compensation, advertises, solicits, or offers to make or […]
26-2502. EXCEPTIONS. This chapter shall not apply to: (a) Any person doing business under any law of this state or of the United States relating to banks, credit unions, trust companies, savings and loan associations, insurers, pension trusts, real estate investment trusts and other financial institutions, or under the Idaho credit code; (b) Any corporation, […]
26-2503. FEES PROHIBITED UNTIL A LOAN IS MADE. No loan broker shall directly or indirectly receive any fee, interest or other charge of any nature until a loan or extension of credit is made or a written commitment to loan or extend credit is made by any person exempt under section 26-2502, Idaho Code. History: […]
26-2504. FEES RECOVERABLE. A person damaged as a result of a violation of the provisions of this chapter may recover from the loan broker the amount of the fee thus paid, plus damages in the amount of twice the fee. History: [26-2504, added 1979, ch. 298, sec. 1, p. 781; am. 1992, ch. 28, sec. […]
26-2505. ADMINISTRATION — ENFORCEMENT — ACTIONS FOR MONETARY RELIEF. (1) The director of the Idaho department of finance shall have the power to administer and enforce the provisions of this chapter. Whenever it appears to the director that a loan broker has violated section 26-2503, Idaho Code, the director shall have the powers and remedies […]
26-2506. CRIMINAL PENALTY. Any person who wilfully violates any provision of chapter 25, title 26, Idaho Code, shall be guilty of a felony. History: [26-2506, added 1981, ch. 239, sec. 1, p. 482.]
