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Terms Used In Idaho Code 54-222

  • 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.
  • Firm: means a proprietorship, partnership, professional corporation, professional limited liability company, or any other form of professional organization permitted by Idaho law, registered under the requirements of section 54-214, Idaho Code. See Idaho Code 54-206
  • Member: means a person who has been admitted to membership in a firm that is organized as a limited liability company. See Idaho Code 54-206
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means any natural living person. See Idaho Code 54-206
Any violation of any of the provisions of this chapter shall constitute a misdemeanor, and any person, corporation, partnership, proprietorship, member, firm or association of any kind or nature convicted thereof may be punished by a fine not to exceed seven hundred fifty dollars ($750), or six (6) months imprisonment, or both.