Section 28-46-304 – RECORDS — ANNUAL REPORTS.
28-46-304. RECORDS — ANNUAL REPORTS. (1) Every regulated lender shall maintain records in conformity with generally accepted accounting principles and practices in a manner that will enable the administrator to determine whether the regulated lender is complying with the provisions of this act. The recordkeeping system of a regulated lender shall be sufficient if he […]
Section 28-46-305 – EXAMINATIONS AND INVESTIGATIONS.
28-46-305. EXAMINATIONS AND INVESTIGATIONS. (1) The administrator may examine periodically at intervals he deems appropriate, the loans and business records of every regulated lender. In addition, for the purpose of discovering violations of this act or securing information lawfully required, the administrator may at any time investigate the loans, business, and records of any regulated […]
Section 28-46-306 – APPLICATION OF ADMINISTRATIVE PROCEDURE ACT TO PART.
28-46-306. APPLICATION OF ADMINISTRATIVE PROCEDURE ACT TO PART. Except as otherwise provided, the state Administrative Procedure Act, chapter 52, title 67, Idaho Code, applies to and governs all administrative action taken by the administrator pursuant to this part. History: [28-46-306, added 1983, ch. 119, sec. 3, p. 310.]
Section 28-46-401 – DEFINITIONS.
28-46-401. DEFINITIONS. (1) As used in this act, unless the context otherwise requires, "payday loan" means a transaction pursuant to a written agreement between a creditor and the maker of a check whereby the creditor: (a) Accepts a check from the maker; (b) Agrees to hold the check for a period of time prior to […]
Section 28-46-402 – LICENSE REQUIRED.
28-46-402. LICENSE REQUIRED. (1) No person shall engage in the business of payday loans, offer or make a payday loan, or arrange a payday loan for a third party lender in a payday loan transaction without having first obtained a license under this chapter. A separate license shall be required for each location from which […]
Section 28-46-403 – QUALIFICATIONS FOR PAYDAY LOAN LICENSE.
28-46-403. QUALIFICATIONS FOR PAYDAY LOAN LICENSE. (1) To qualify for a license, an applicant shall satisfy the following requirements: (a) The applicant shall have liquid assets of at least thirty thousand dollars ($30,000) determined in accordance with generally accepted accounting principles, provided that applicants seeking to engage in the business of payday loans at more […]
Section 28-45-201 – EFFECT OF VIOLATIONS ON RIGHTS OF PARTIES.
28-45-201. EFFECT OF VIOLATIONS ON RIGHTS OF PARTIES. (1) If a creditor has violated any provision of this act applying to collection of an excess charge or amount or enforcement of rights, subsection (4) of section 28-41-201, Idaho Code, authority to make regulated consumer loans, section 28-46-301, Idaho Code, restrictions on interests in land as […]
Section 28-46-110 – INJUNCTIONS AGAINST VIOLATIONS OF ACT.
28-46-110. INJUNCTIONS AGAINST VIOLATIONS OF ACT. The administrator may bring a civil action to restrain any person from violating this act and for other appropriate relief including, but not limited to, the following: to prevent a person from using or employing practices prohibited by this act, to reform contracts to conform to this act and […]
Section 28-45-202 – DAMAGES OR PENALTIES AS SETOFF TO OBLIGATION.
28-45-202. DAMAGES OR PENALTIES AS SETOFF TO OBLIGATION. Damages or penalties to which a debtor is entitled pursuant to this part may be set off against the debtor’s obligation, and may be raised as a defense to an action on the obligation without regard to the time limitations prescribed by this part. History: [28-45-202, added […]
Section 28-46-111 – INJUNCTIONS AGAINST UNCONSCIONABLE AGREEMENTS AND FRAUDULENT OR UNCONSCIONABLE CONDUCT INCLUDING DEBT COLLECTION.
28-46-111. INJUNCTIONS AGAINST UNCONSCIONABLE AGREEMENTS AND FRAUDULENT OR UNCONSCIONABLE CONDUCT INCLUDING DEBT COLLECTION. (1) The administrator may bring a civil action to restrain a person to whom this part applies from engaging in a course of: (a) Making or enforcing unconscionable terms or provisions of regulated consumer credit transactions; (b) Fraudulent or unconscionable conduct in […]