Idaho Code 26-2149 – Prohibited Activities
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 26-2149
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Credit union: means a cooperative nonprofit corporation chartered under the provisions of this chapter. See Idaho Code 26-2104
- Credit union services: means services such as draft and deposit sorting and posting, computation and posting of interest and other credits and charges, preparation and mailing of drafts, statements, notices, and similar items, or any other clerical, bookkeeping, accounting, statistical, or similar functions performed for a credit union. See Idaho Code 26-2104
No credit union service corporation may engage in any revenue producing activity other than the performance of credit union services for credit unions and, to an extent not exceeding one half (1/2) of its total activity, the performance of similar services for persons or organizations other than credit unions.