Title 26 — BANKS AND BANKING

26-3208. Name of trust institution. A state trust company or out-of-state trust institution may register any name with the director in connection with establishing a principal office, trust office or representative trust office in this state pursuant to this act, except that the …

26-3301. Trust business. A state trust company or a state bank may: (1) Perform any act as a fiduciary; (2) Engage in any trust business; (3) Exercise any incidental power that is reasonably necessary to enable it to fully exercise, according to commonly accepted fiduciary custom…

26-3302. Branches and offices of state trust institutions. (1) A state trust institution may act as a fiduciary and engage in a trust business at each trust office as permitted by this act, and at a branch in this state. (2) A state trust institution may not act as a fiduciary bu…

26-3303. State trust company principal office. (1) Each state trust company must have and continuously maintain a principal office in this state. (2) Each executive officer at the principal office is an agent of the state trust company for service of process. (3) A state trust co…

26-3304. Trust office — Representative trust office. (1) A state trust institution may establish or acquire, and maintain, trust offices or representative trust offices anywhere in this state. A state trust institution desiring to establish or acquire, and maintain, such an offic…

26-3305. Out-of-state offices. (1) A state bank, a state trust company or a savings association chartered under the laws of this state may establish and maintain a new trust office or a representative trust office or acquire and maintain an office in a state other than this state…

26-3401. Trust business at a branch or trust office or representative trust office. (1) An out-of-state trust institution may act as a fiduciary in this state or engage in a trust business in this state if it maintains a trust office in this state as permitted by this chapter, or…

26-3402. Establishing or acquiring an interstate trust office or representative office. (1) An out-of-state trust institution that does not operate a trust office in this state and that meets the requirements of this chapter may establish or acquire, and maintain, a trust office …

26-3403. Requirement of notice. An out-of-state trust institution desiring to establish and maintain a new trust office or acquire and maintain a trust office in this state pursuant to this chapter shall provide, or cause its home state regulator to provide, written notice of the…

26-3404. Conditions for approval. (1) No trust office of an out-of-state trust institution may be acquired or established in this state under this chapter unless: (a) The out-of-state trust institution shall have confirmed in writing to the director that for as long as it maintai…

26-3405. Registration of representative trust office. (1) An out-of-state trust institution may establish or acquire and maintain a representative trust office in this state. An out-of-state trust institution not maintaining a trust office in this state and desiring to establish …

26-3406. Additional trust offices. An out-of-state trust institution that maintains a trust office in this state under this chapter may establish or acquire additional trust offices or representative trust offices in this state to the same extent that a state trust institution ma…

26-3407. Notice of subsequent merger, transfer, or closing. Each out-of-state trust institution that maintains an office in this state pursuant to this act, or the home state regulator of such trust institution, shall give at least thirty (30) days’ prior written notice or, in th…

26-3501. Prerequisite to engaging in trust business. (1) A corporation duly organized for the purpose of engaging in the trust business may apply for a charter to operate as a state trust company. A state trust company may perform any act as a fiduciary or engage in any trust bus…

26-3502. Application for charter. An application for a state trust company or trust department charter shall be in writing and in such form as the director shall prescribe, verified under oath and supported by such information, data and records as the director may require.

26-3503. Application fee. A reasonable application fee, as set by the director, shall be paid to the department with respect to each application for a charter under this chapter at the time the application is filed.

26-3504. Minimum capital. (1) A charter shall not be issued to a corporation applying for a state trust company charter having a paid-in capital of less than one million five hundred thousand dollars ($1,500,000). (2) A charter to operate a trust department shall not be issued to…

26-3505. Issuance of charter. Upon the filing of an application the director shall make or cause to be made an investigation and examination of the facts concerning the applicant and shall issue a charter if he finds: (1) The applicant is a corporation having powers and purposes …

26-3506. Records — Preservation of records. A state trust company or trust department shall keep and use in its business any books, accounts and records which will enable the director to determine whether the trust institution is complying with the provisions of this act and the …

26-3507. Disclosure of information. A state trust company or trust department, its officers and employees, shall not disclose information to any person concerning the existence, condition, management and administration of any trust of which it is the trustee except as such disclo…

26-3508. Trust funds. (1) All moneys received by a state trust company as a fiduciary on trust business within this state shall be deposited in a bank, in a specially designated account or accounts, shall not be commingled with any funds of the state trust company and shall remai…

26-3509. Loans to directors, officers or employees prohibited — Loans to affiliates or subsidiaries prohibited. (1) A state trust company or bank having a trust department shall not make any loan to any director, officer or employee of the trust institution or to any affiliate or…

26-3510. Closing of trust unduly delayed. If, as a result of an examination, the director finds that the closing of any trust by a state trust company has been unreasonably delayed, the director may initiate proceedings in a court of competent jurisdiction to require the state tr…

26-3601. Administration and rules. Every authorized trust institution shall be under the supervision of the director. The director may issue, promulgate, amend and rescind rules or orders necessary or proper to carry out the provisions of this act. All authorized trust institutio…

26-3602. Examinations — Periodic reports — Cooperative agreements — Assessment of fees. (1) The director may make such examinations, with or without notice, of any office or branch established or maintained in this state pursuant to this act as the director may deem necessary to …

26-3604. Notice and opportunity for hearing. Consistent with chapter 52, title 67, Idaho Code, notice and opportunity for hearing shall be provided in connection with any of the foregoing actions. Provided however, in cases involving extraordinary circumstances requiring immediat…

26-3605. Subpoena power — Examination under oath. The director shall have the power to subpoena witnesses, compel their attendance, require the production of evidence, administer oaths, and examine any person under oath in connection with any subject related to a duty imposed or …

26-3607. Impairment of capital — Unsafe condition — Receivership. If it appears to the director that the capital of a state trust company is either reduced or impaired below one million five hundred thousand dollars ($1,500,000) or the affairs of the company are in an unsound con…

26-3608. Limit of legal action. This chapter does not limit any statutory or common law right of a person to bring an action in a court for any act involved in the transaction of trust business or the right of the state to bring an action against any person for a violation of law…

26-3609. Continued operation. Any bank chartered to operate a trust department on July 1, 2000, is hereby authorized to continue to operate a trust department after July 1, 2000; provided that such bank must conform its trust department operations with the provisions of this act.

26-3701. Short title. This chapter shall be known and may be cited as the "Idaho Continuing-Care Disclosure Act."

26-3702. Statement of purpose. The legislature recognizes that continuing care communities have become an important and necessary alternative for the long-term residential, social and health maintenance needs for many of the state’s elderly citizens. The legislature finds and dec…

26-3703. Definitions. As used in this chapter: (1) "Continuing care" means the furnishing to an individual, other than an individual related by blood, marriage, or adoption to the person furnishing the care, of lodging together with nursing services, medical services, or other he…

26-3704. Registration — Annual fee. Each provider who provides continuing care services in this state shall register with the director on forms provided by the department and shall pay an annual registration fee. Such registration fee shall be fixed by the director but shall not …

26-3705. Disclosure statement of financial responsibility. As a condition to registration with the department, each provider must file evidence of financial responsibility. Said evidence shall be on registration forms provided by the director. The registration forms shall request…

26-3706. Specification for residence contracts. (1) In addition to such other provisions as may be considered proper to effectuate the purpose of any continuing care agreement, each agreement executed on and after the date of the adoption of this chapter shall be written in nonte…

26-3707. Escrow — Trust — Surety bond — Collection of deposits. (1) A provider shall establish an escrow account with a bank or a trust company, that is located in Idaho, agreed upon by the provider and the resident. The terms of this escrow account shall provide that the total a…

26-3708. Cross-collateralization prohibited. No part of the entrance fee placed in escrow may be pledged by the provider as collateral for the purpose of securing loans for any purpose other than providing for the care of the resident.

26-3709. Audits. Each provider upon annual renewal of registration shall provide to the director certified audited reports of the financial condition of the facility and shall amend the disclosure required by section 26-3704, Idaho Code, as necessary. The annual audited reports s…

26-3710. Civil liability. (1) Any person who, as a provider, or on behalf of a provider: (a) Enters into a contract for continuing care at a facility which has not registered under this chapter; (b) Enters into a contract for continuing care at a facility without having first del…

26-3711. Injunctions. Whenever it appears to the director that any person has engaged in, or is about to engage in, any act or practice constituting a violation of any provision of this chapter or any rule or order hereunder, the director may: (1) Issue an order directed at any s…

26-3712. Denial, suspension, revocation of registration — Grounds. The director may by order deny, suspend or revoke registration of any provider: (1) If he finds the order is in the public interest; or (2) Any of the conditions described in section 26-3705(2)(c), Idaho Code, app…

26-3713. Oaths — Subpoenas — Punishment — Exemption from criminal prosecution for testimony. For the purpose of any investigation or proceeding under this chapter the director or any officer designated by him may administer oaths and affirmations, subpoena witnesses, compel their…

26-3714. Criminal penalties. (1) Any person who willfully and knowingly violates any provision of this chapter, or any rule or order under the chapter, shall be guilty of a misdemeanor and be sentenced to pay a fine of not more than one thousand dollars ($1,000) or imprisonment f…

26-3715. Regulatory authority. The director shall have the authority to adopt, amend or repeal such rules as are reasonably necessary for the enforcement of the provisions of this chapter.

26-3801. SHORT TITLE. This chapter shall be known and may be cited as the "Transparency in Financial Services Act."

26-3802. construction of terminology. The definitions provided in section 26-3803, Idaho Code, shall be construed in favor of the broadest protection of the conduct, opinions, and beliefs protected by the first amendment to the United States constitution, the constitution of the …

26-3803. DEFINITIONS. For purposes of this chapter: (1) "Discriminate in the provision of financial services" means utilizing a social credit score to directly or indirectly decline to provide full and equal enjoyment in the provision of financial services. "Discriminate in the p…

26-3804. EXPLANATION REQUIRED UPON REQUEST — DISCRIMINATION PROHIBITED. (1) If a financial institution refuses to provide, restricts, or terminates service to a customer, that customer may request a statement of specific reasons within ninety (90) days after receiving notice of t…

26-3805. enforcement. (1) A violation of this chapter is a violation of the Idaho consumer protection act, chapter 6, title 48, Idaho Code. (2) The attorney general may undertake any and all actions authorized by the Idaho consumer protection act to investigate and enforce a viol…