Upon the filing of an application the director shall make or cause to be made an investigation and examination of the facts concerning the applicant and shall issue a charter if he finds:
(1)  The applicant is a corporation having powers and purposes to engage in the trust business, organized under the laws of this state or authorized to do business in this state as a foreign corporation; and
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Terms Used In Idaho Code 26-3505

  • 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.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(2)  The applicant has complied with all of the applicable provisions of this act; and
(3)  The ability and integrity of the persons involved in the management of the applicant’s business are such as to demonstrate that it will be operated in a sound and lawful manner; and
(4)  The applicant has adequate facilities to engage in trust business.