Title 26 — BANKS AND BANKING

26-201. General corporation laws applicable. Except as otherwise provided herein, the general business corporation laws of this state shall apply to all corporations organized and operating under the bank act. In the event of any conflict between the provisions of the bank act an…

26-202. Authorization necessary to do business. It shall be unlawful for any person to engage in or transact any banking business in this state except by means of a corporation duly organized for that purpose and chartered under the bank act. Corporations organized to engage in a…

26-203. Articles of incorporation — Form. Proposed articles of incorporation of a banking corporation shall be in a form acceptable to the director, and must be submitted to the director for approval as to form and content before the same are filed for record in the offices of th…

26-204. Articles of incorporation — Amendment. Any proposed amendment to the articles of incorporation of a bank shall, before the same is adopted, be submitted to the director for his approval as to form and content. In addition to the articles of amendment to be filed with the …

26-205. Incorporation — Capital structure required. (1) Every banking corporation hereafter organized must have common stock, surplus and undivided profits paid up in unhypothecated cash of not less than the following amounts: (a) In cities, and communities the population of whic…

26-206. Preferred stock. (1) Subject to the provisions of the bank act, and by and with the approval and consent of the director, any bank now or hereafter incorporated under the laws of this state may issue such part of its capital as is approved by the director as preferred sto…

26-207. Bylaws. Every banking corporation formed under the bank act must, within thirty (30) days after the issuance of its certificate of incorporation, adopt a code of bylaws as provided in the Idaho Business Corporations Act. A copy of all bylaws and of any subsequent amendmen…

26-208. Place of meetings. Regular or special meetings of the board of directors or the executive committee may be held for the transaction of any business of the bank at any place within or outside of the state of Idaho. Unless restricted by the articles of incorporation or byla…

26-209. Time of annual meeting. An annual meeting of stockholders of a bank shall be held each year at the time and in the manner indicated in the bylaws.

26-210. Stockbook. A book shall be provided and kept by every bank in which shall be entered the names and residences of the stockholders thereof, the number of shares held by each, the time when such person became a stockholder, and also all transfers of stock, stating the time …

26-211. Stock-transfers. (1) The shares of stock of a bank shall be deemed personal property and shall be transferred on the books of the bank in such manner as the bylaws thereof shall direct. (2) All transfers of voting securities of a bank by sale, gift or otherwise shall be r…

26-212. Right of examination by stockholder. No stockholder of any bank who is not a director shall have the right to inspect the books and records of such bank showing its transactions with any of its customers but any such stockholder shall have the right to inspect, during bus…

26-213. Board of directors — Election, meetings, duties, liabilities, oath, removal — Officers — Election and bond. (1) The affairs, business and property of a bank shall be managed and controlled by a board of not less than five (5) directors, who shall be elected by the stockho…

26-214. Power of banks to grant options to purchase or sell shares of its stock to its employees. (1) Any bank may grant options to purchase, sell or enter into agreements to sell, shares of its stock to its employees whether or not such transactions qualify for special tax treat…

26-215. Federal reserve — Membership. Any bank shall have the power to subscribe to the capital stock and become a member of a federal reserve bank. Any bank incorporated under the laws of this state which is or which becomes a member of a federal reserve bank is, by the bank act…

26-216. Custodial accounts. A bank is authorized to act as custodian or fiduciary, and may receive reasonable compensation for so acting, under any written trust instrument or custodial agreement in connection with a tax-advantaged savings plan authorized under the Internal Reven…

26-217. Banks empowered to comply with requirements for federal deposit insurance. Any banking institution now or hereafter organized under the laws of this state is hereby empowered, on the authority of its board of directors, or a majority thereof, to enter into such contracts,…