Title 26, BANKS AND BANKING

26-1701. Title and scope. (1) This chapter shall be known, and may be cited as the "Idaho International Banking Act." (2) This chapter is intended to set forth the terms and conditions under which an international banking corporation may enter and do business in Idaho.

26-1702. Definitions. (1) As used in this chapter, unless the context otherwise requires: (a) "Director" means the director of the department of finance. (b) "Federal international bank institutions" means a branch, agency, or representative office of an international banking cor…

26-1703. Authority for operation of international banking offices. (1) An international banking corporation with a home state other than Idaho may establish and operate, directly or indirectly, a federal international bank institution in this state in accordance with applicable f…

26-1704. Application of this chapter. International banking corporations, other than federal international bank institutions, are subject to this chapter, except where it appears, from the context or otherwise, that a provision is clearly applicable only to banks or trust compani…

26-1705. Application of the Idaho business corporation act. Where not inconsistent with this chapter and the Idaho bank act, the provisions of the Idaho business corporation act shall apply to international banking corporations doing business in this state.

26-1706. Requirements for carrying on banking business. (1) No international banking corporation, other than a federal international bank corporation, shall transact a banking business or maintain in this state any office for carrying on a banking business or any part of a bankin…

26-1707. Actions against international banking corporations. (1) A "resident of this state" may maintain an action against an international banking corporation doing business in this state for any cause of action. For purposes of this subsection, the term resident of this state i…

26-1708. Application for license. (1) Every international banking corporation, before being licensed by the director to transact a banking business in this state as an international bank branch or as an international bank agency or before maintaining in this state any office to c…

26-1709. Effect, renewal, and revocation of licenses — Permissible activities. (1) When the director has issued a license to an international banking corporation, it may engage in the business authorized in this act at, and only at, the office specified in the license for a perio…

26-1710. Securities, bonds and other commercial paper to be held in this state. (1) An international banking corporation licensed under this chapter shall hold, at its office in this state, currency, bonds, notes, debentures, drafts, bills of exchange, or other evidence of indebt…

26-1711. Financial certification — Restrictions on investments, loans and acceptances. (1) Before opening an office in this state, and annually thereafter so long as a bank office is maintained in this state, an international banking corporation licensed under this act shall cert…

26-1712. Reports. An international banking corporation licensed under this act shall, at the times and in the form prescribed by the director, make written reports in the English language to the director, under the oath of one (1) of its officers, managers, or agents transacting …

26-1713. Dissolution. (1) When an international banking corporation licensed to maintain an international bank branch or an international bank agency in this state is dissolved or its authority or existence is otherwise terminated or canceled in the jurisdiction of its incorporat…

26-1714. International representative offices. (1) An international banking corporation that does not transact a banking business or any part of a banking business in or through an office in this state, but maintains an office in this state for other purposes is considered to hav…

26-1715. Rules. The department of finance may promulgate administrative rules necessary to implement this chapter.