Idaho Code 26-2604 – Prohibited Acquisition
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Terms Used In Idaho Code 26-2604
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Financial institution: means any state bank, national bank, trust company, savings and loan association, savings bank, federal savings and loan association, federal savings bank, or credit union, as those terms are defined in title 26, Idaho Code, or any federal credit union organized under the federal credit union act (12 U. See Idaho Code 26-2603
- Financial institution holding company: means a person, other than an individual, that has or acquires control over any financial institution. See Idaho Code 26-2603
- Idaho financial institution: means :
Idaho Code 26-2603Idaho financial institution holding company: means a financial institution holding company whose principal place of business is, and whose operations are principally conducted in, this state. See Idaho Code 26-2603 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Out-of-state financial institution: means a financial institution whose operations are principally conducted outside this state. See Idaho Code 26-2603 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
Except as authorized in this chapter, chapter 16, title 26, Idaho Code, and by the laws of the United States, no out-of-state financial institution or out-of-state financial institution holding company, nor any subsidiary or affiliate thereof, may establish or maintain an office of, or conduct the business of, a financial institution in this state; nor may such out-of-state financial institutions or out-of-state financial institution holding companies, or any subsidiaries or affiliates thereof, directly or indirectly, acquire control of, acquire substantially all of the assets of, merge with, consolidate with, or assume the deposit liabilities of an Idaho financial institution or an Idaho financial institution holding company.