Idaho Code 26-401 – Definitions
Current as of: 2023 | Check for updates
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As used in this section:
"Invest" includes any advance of funds to a bank service corporation, whether by the purchase of stock, the making of a loan, or otherwise, except a payment for rent earned, goods sold and delivered, or services rendered prior to the making of such payment;
Terms Used In Idaho Code 26-401
- 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.
"Applying bank" means a bank applying to a bank service corporation for bank services; and
"Stockholding bank" means a bank which owns stock of a bank service corporation.