Title 30, CORPORATIONS

30-201. Franchise may be levied upon. For the satisfaction of any judgment against a person, firm, association, company, or corporation authorized to receive tolls, its franchise and all the rights and privileges thereof, may be levied upon and sold under execution in the same ma…

30-202. Purchaser to conduct business. The purchaser at the sale must receive a certificate of purchase of the franchise, and be immediately let into possession of all property necessary for the exercise of the powers and the receipt of the proceeds thereof, and must thereafter c…

30-203. Actions by purchaser. The purchaser or his assignee is entitled to recover any penalties imposed by law and recoverable by the person, firm, association, company or corporation for an injury to the franchise or property thereof, or for any damages or other cause, occurrin…

30-204. Effect of sale. The person, firm, association, company, or corporation whose franchise is sold, as in this chapter provided, in all other respects retains the same powers, is bound to discharge the same duties, and is liable to the same penalties and forfeitures as before…

30-205. Redemption from sale. The person, firm, association, company, or corporation may, at any time within one (1) year after such sale, redeem the franchise by paying or tendering to the purchaser thereof the sum paid therefor, with ten per cent (10%) interest thereon, but wit…

30-206. Place of sale. The sale of any franchise under execution must be made in the county in which the person, firm, association, company, or corporation has its principal place of business.

30-501. Corporations — Constitution of the state of Idaho. (1) Every corporation organized for any lawful purpose or purposes, whether a general business corporation or a designated class of corporation, shall, by the act of filing incorporation documents with the state of Idaho,…

30-502. improper state Corporations — reporting — opportunity to reform. (1) The provisions of this section shall apply to a corporation that: (a) Was incorporated prior to the effective date of this section; (b) Has assets or liabilities as of the effective date of this section …

30-701. License to take tolls. When a corporation is formed for the construction and maintenance of a bridge, ferry, flume or boom, or for two (2) or more of said purposes, it must not take tolls on or for the same until authority is granted therefor by the boards of county commi…

30-702. When franchise ceases. Every such corporation hereafter organized ceases to be a body corporate: 1. If, within two (2) years from filing its articles of incorporation it has not commenced the construction of its bridge, flume or boom, as the case may be, and if within thr…

30-703. Application to individuals. When a bridge, ferry, flume or boom is operated or owned by a natural person, this chapter is applicable to such person in like manner as it is applicable to corporations.

30-801. Contracts for municipal water supply. No corporation formed to supply any city or town with water must do so unless previously authorized by an ordinance of the authorities thereof, or unless it is done in conformity with a contract entered into between the city or town a…

30-802. Right of way granted. Any corporation created under the provisions of this title for the purposes named in this chapter, subject to the reasonable rules and directions of the city or town authorities as to the mode or manner of using such right of way within the city or t…

30-803. Works not to obstruct highways. All waterworks must be so laid and constructed as not to obstruct public highways.

30-804. Water users’ associations — Exemptions from taxes. Any water users’ association which is organized in conformity with the requirements of the United States under the Reclamation Act of June 17, 1902, and which, under its articles of incorporation, is authorized to furnish…

30-901. Short title. (1) This chapter shall be known and may be cited as the "Idaho Escrow Act." (2) It is the intent of the legislature that the escrow industry be supervised and regulated by the department of finance in order to protect the citizens of the state and to provide …

30-902. Definitions. As used in this chapter and in rules promulgated pursuant to this chapter: (1) "Act" means the "Idaho Escrow Act," chapter 9, title 30, Idaho Code. (2) "Department" means the Idaho department of finance. (3) "Director" means the director of the Idaho departme…

30-903. License required. (1) It shall be unlawful for any person to directly or indirectly engage in or carry on, or purport to engage in or carry on, the business of, or act in the capacity of, an escrow agency in or from Idaho without first obtaining a license under this chapt…

30-904. Place of business. No licensee under this chapter shall engage in the escrow business at any place of business for which it does not hold a license, nor shall it engage in business under any other name than that on the license. Every escrow agency licensed under this chap…

30-905. Exempt persons and transactions. The requirements of this chapter do not apply to: (1) Any person licensed to practice law in this state while engaged in the performance of his professional duties, except an attorney or law firm actively engaging in a separate business as…

30-906. Exemption — Burden of proof. In any proceeding or action under this chapter, the burden of proving an exemption from the requirements of this chapter is upon the person claiming the exemption.

30-907. Director’s issuance or denial of license. (1) The director shall receive and act upon all applications for licenses to engage in business as an escrow agency under this chapter. If the director finds that all requirements of statute and rule have been met and all applicab…

30-908. Renewal of license. (1) On or before April 30 of each year, every licensee under this chapter shall pay an annual license renewal fee of one hundred fifty dollars ($150), and shall file with the director a renewal form containing such information as the director may requi…

30-909. Financial responsibility — Fidelity bond — Errors and omissions policy — Surety bond. At the time of filing an application for an escrow agency license, and at the time of any renewal or reinstatement of such license, the applicant or licensee shall provide satisfactory e…

30-910. Cancellation of fidelity bond, surety bond, or both — New bond required. Prior to cancellation of either the fidelity bond or the surety bond required by section 30-909, Idaho Code, or both, the escrow agency licensee shall file with the director satisfactory evidence of …

30-911. Limitation of actions on bond. No action may be brought on an escrow agency licensee’s bond by any person after the expiration of three (3) years from the time when the act or default complained of becomes known or should have become known.

30-912. Transferability. A license issued under this chapter is not transferable or assignable, and control of a license shall not be acquired through stock purchase or other device without the prior written consent of the director.

30-913. Unlawful acts. Any person, except a person exempt under section 30-905, Idaho Code, who engages in activity as an escrow agency without first obtaining a license in accordance with this chapter, shall be guilty of a felony. Such person is also subject to a civil penalty i…

30-914. Accounts to be maintained — Records open to inspection — Retention of records — Trust account — Interest on escrow accounts. (1) Each licensee shall maintain sufficient books, accounts and records readily accessible to the department for the department to determine at any…

30-915. Notice of conflict of interest — Closing statement. (1) An escrow agency licensee shall act without partiality to any of the parties to the escrow. An escrow agency may not close a transaction where it has, directly or indirectly, a monetary interest in the subject proper…

30-916. Attachment. Funds or other value received by a licensee under this chapter pursuant to an escrow or trust funds are not subject to execution or attachment in any claim against the licensee.

30-917. Examination and investigations. (1) The director shall examine the books, records and accounts of each licensee, within or without the state of Idaho, at intervals he deems necessary for the protection of the public. The licensee so examined shall pay a fee for the examin…

30-918. Powers and duties of the director. (1) In addition to any other powers and duties of the director authorized by law, the director may issue orders and promulgate rules that, in the opinion of the director, are necessary to execute, enforce and effectuate the purposes of t…

30-919. Prohibited practices. No escrow agency licensee or person required to be licensed under this chapter, or any of its officers, directors, members, general partners, employees or agents shall: (1) Issue, circulate, make use of, publish or advertise, by any means of communic…

30-920. Remedies. (1) 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 thereunder, is conducting its business in an unsafe and injurious m…

30-931. No impairment of other remedies. Nothing in this chapter shall be construed so as to impair or affect any statutory or common law right of any person to bring an action in any court having jurisdiction for any act involved in the transaction of an escrow business or the r…

30-932. Continuing jurisdiction. If a license under this chapter is surrendered, suspended or revoked, the former licensee shall continue to be subject to the provisions of this chapter and to the duties previously undertaken for so long as it acts as a fiduciary with respect to …

30-933. Status of preexisting escrows. Nothing contained in this chapter shall be so construed as to impair or affect the obligation of any escrow agreement that was lawfully entered into prior to the effective date of this act.

30-934. Severability. The provisions of this act are hereby declared to be severable, and if any provision of this act or the application of such provision to any person or circumstance is declared invalid for any reason, such declaration shall not affect the validity of the rema…

30-14-101. Short title. This chapter shall be known and may be cited as the "Uniform Securities Act (2004)."

30-14-102. Definitions. In this chapter, unless the context otherwise requires: (1) "Administrator" means the director of the Idaho department of finance or his designee. (2) "Agent" means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or a…

30-14-103. References to federal statutes. "Securities act of 1933" (15 U.S.C. 77a et seq.), "securities exchange act of 1934" (15 U.S.C. 78a et seq.), "public utility holding company act of 1935" (15 U.S.C. 79 et seq.), "investment company act of 1940" (15 U.S.C. 80a-1 et seq.),…

30-14-104. References to federal agencies. A reference in this chapter to an agency or department of the United States is also a reference to a successor agency or department.

30-14-105. Electronic records and signatures. This chapter modifies, limits and supersedes the federal electronic signatures in global and national commerce act, but does not modify, limit or supersede section 101(c) of that act (15 U.S.C. 7001(c)) or authorize electronic deliver…

30-14-201. Exempt securities. The following securities are exempt from the requirements of sections 30-14-301 through 30-14-306, Idaho Code, and section 30-14-504, Idaho Code: (1) A security, including a revenue obligation or a separate security as defined in rule 131 (17 CFR 230…

30-14-202. Exempt transactions. The following transactions are exempt from the requirements of sections 30-14-301 through 30-14-306, Idaho Code, and section 30-14-504, Idaho Code: (1) An isolated nonissuer transaction, whether or not effected by or through a broker-dealer; (2) A …

30-14-202A. Fairness hearing. (a) The administrator is expressly authorized to hold a hearing and consider the fairness of the terms and conditions of a transaction described in section 30-14-202(9), Idaho Code. This section 30-14-202A, Idaho Code, is intended to provide for a fa…

30-14-203. Additional exemptions and waivers. (1) A rule adopted or an order issued under this chapter may exempt a security, transaction or offer. (2) A rule adopted under this chapter may exempt a class of securities, transactions or offers from any or all of the requirements o…

30-14-204. Denial, suspension, revocation, condition or limitation of exemptions. (a) Enforcement related powers. Except with respect to a federal covered security or a transaction involving a federal covered security, an order under this chapter may deny, suspend application of,…

30-14-301. Securities registration requirement. It is unlawful for a person to offer or sell a security in this state unless: (a) The security is a federal covered security; (b) The security, transaction or offer is exempted from registration under sections 30-14-201 through 30-1…