Terms Used In Idaho Code 56-1103

• Account holder: means a member of a low-income household who is the named depositor of an individual development account. See Idaho Code 56-1101
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary organization: means a nonprofit, fundraising organization that is exempt from taxation under section 501(c)(3) of the Internal Revenue Code, approved by the state, including any Indian tribe as defined in section 4(12) of the native American housing assistance and self-determination act of 1996 (25 U. See Idaho Code 56-1101
• Individual development account: means a contract between an account holder and a fiduciary organization, for the deposit of funds into a financial institution by the account holder, and the deposit of matching funds into the financial institution by the fiduciary organization from private and public contributions made to the fiduciary organization for such purpose, to allow the account holder to accumulate assets for use toward achieving a specific purpose approved by the fiduciary organization. See Idaho Code 56-1101
• Low-income household: means a single person or family whose adjusted annual income is less than two hundred percent (200%) of the annual federal poverty guideline. See Idaho Code 56-1101
• person: includes a corporation as well as a natural person;