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Can you summarize IDST Title 26, Chapter 12?
BANKS AND BANKING > CIVIL AND CRIMINAL PENALTIES
Short Summary
This legal document provides regulations and guidelines for banks and bank holding companies operating in Idaho. It covers various aspects, including the establishment and operation of banks, the conduct of bank officers and employees, and the use of certain words related to banking or trust business. The document specifies that banks must open for business within one year after their charter is issued, and failure to do so will result in the forfeiture of their charter and the loss of their right to do business. The director of the department of finance may grant extensions for opening a bank or branch office for good cause shown, but not for longer than an additional six months. The document also prohibits the acceptance of subscriber or stockholder notes as payment for the par value of common stock, surplus, or undivided profits. It further prohibits banks from advertising the establishment of a branch office or unit bank until the necessary charters have been issued. The document also addresses the unauthorized use of a bank’s computer system, the carrying of non-owned assets by banks, overdrafts by directors, officers, or employees, misleading advertising by banks, and the prohibition of commissions or other considerations on loans. It also covers the payment of funds by bank officers or employees without sufficient deposits, borrowing from state banks by the department of finance, reporting of banking law violations, unauthorized alienation of bank property, false statements or entries in bank records or reports, and the unauthorized use of certain words related to banking or trust business. The document specifies that violations of these provisions can result in various penalties, including fines and imprisonment, depending on the specific offense.
Whom does it apply to?
This document applies to banks and bank holding companies in Idaho, as well as their officers, directors, and employees.
What does it govern?
This legal document governs various aspects of banking in Idaho, including the establishment and operation of banks, the conduct of bank officers and employees, and the use of certain words related to banking or trust business.
What are exemptions?
No specific exemptions are mentioned in this document.
What are the Penalties?
The penalties for non-compliance with the provisions in this document vary. Violations of certain provisions may result in misdemeanor charges, while others may be considered felonies. The penalties can include fines, imprisonment, or both, depending on the specific offense.
Jurisdiction
Idaho