Section 26-3706 – SPECIFICATION FOR RESIDENCE CONTRACTS.
26-3706. SPECIFICATION FOR RESIDENCE CONTRACTS. (1) In addition to such other provisions as may be considered proper to effectuate the purpose of any continuing care agreement, each agreement executed on and after the date of the adoption of this chapter shall be written in nontechnical language easily understood by a layperson and shall: (a) Show […]
Section 26-3508 – TRUST FUNDS.
26-3508. TRUST FUNDS. (1) All moneys received by a state trust company as a fiduciary on trust business within this state shall be deposited in a bank, in a specially designated account or accounts, shall not be commingled with any funds of the state trust company and shall remain on deposit until disbursed or invested […]
Section 26-3509 – LOANS TO DIRECTORS, OFFICERS OR EMPLOYEES PROHIBITED — LOANS TO AFFILIATES OR SUBSIDIARIES PROHIBITED.
26-3509. LOANS TO DIRECTORS, OFFICERS OR EMPLOYEES PROHIBITED — LOANS TO AFFILIATES OR SUBSIDIARIES PROHIBITED. (1) A state trust company or bank having a trust department shall not make any loan to any director, officer or employee of the trust institution or to any affiliate or subsidiary corporation or to any director, officer or employee […]
Section 26-3510 – CLOSING OF TRUST UNDULY DELAYED.
26-3510. CLOSING OF TRUST UNDULY DELAYED. If, as a result of an examination, the director finds that the closing of any trust by a state trust company has been unreasonably delayed, the director may initiate proceedings in a court of competent jurisdiction to require the state trust institution to perform its duties in closing the […]
Section 26-3601 – ADMINISTRATION AND RULES.
26-3601. ADMINISTRATION AND RULES. Every authorized trust institution shall be under the supervision of the director. The director may issue, promulgate, amend and rescind rules or orders necessary or proper to carry out the provisions of this act. All authorized trust institutions doing business under the provisions of this act shall conduct their business in […]
Section 26-3602 – EXAMINATIONS — PERIODIC REPORTS — COOPERATIVE AGREEMENTS — ASSESSMENT OF FEES.
26-3602. EXAMINATIONS — PERIODIC REPORTS — COOPERATIVE AGREEMENTS — ASSESSMENT OF FEES. (1) The director may make such examinations, with or without notice, of any office or branch established or maintained in this state pursuant to this act as the director may deem necessary to determine whether the office is being operated in compliance with […]
Section 26-3604 – NOTICE AND OPPORTUNITY FOR HEARING.
26-3604. NOTICE AND OPPORTUNITY FOR HEARING. Consistent with chapter 52, title 67, Idaho Code, notice and opportunity for hearing shall be provided in connection with any of the foregoing actions. Provided however, in cases involving extraordinary circumstances requiring immediate action, the director may take such action, but shall promptly afford a subsequent hearing upon application […]
Section 26-3605 – SUBPOENA POWER — EXAMINATION UNDER OATH.
26-3605. SUBPOENA POWER — EXAMINATION UNDER OATH. The director shall have the power to subpoena witnesses, compel their attendance, require the production of evidence, administer oaths, and examine any person under oath in connection with any subject related to a duty imposed or a power vested in the director by this act. History: [26-3605, added […]
Section 26-3607 – IMPAIRMENT OF CAPITAL — UNSAFE CONDITION — RECEIVERSHIP.
26-3607. IMPAIRMENT OF CAPITAL — UNSAFE CONDITION — RECEIVERSHIP. If it appears to the director that the capital of a state trust company is either reduced or impaired below one million five hundred thousand dollars ($1,500,000) or the affairs of the company are in an unsound condition, the director shall order the state trust company […]
Section 26-3204 – PERSONS AUTHORIZED TO ACT AS A FIDUCIARY.
26-3204. PERSONS AUTHORIZED TO ACT AS A FIDUCIARY. (1) No person shall act as a fiduciary in this state except: (a) A state trust company; (b) A state bank; (c) A savings bank organized under the laws of this state and authorized to act as a fiduciary pursuant to the savings bank act, chapter 18, […]