Ask Reggi Your Question Now
Can you summarize IDST Title 26, Chapter 7?
BANKS AND BANKING > LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES
Short Summary
This legal document governs the limitations on loans, investments, and practices by banks. It specifies that the total loans and extensions of credit by a bank to a person outstanding at one time should not exceed twenty percent of the bank’s capital structure. The document defines various terms such as ‘borrower’ and ‘derivative transaction’ and provides examples of what constitutes loans and extensions of credit. It also outlines certain items that do not fall under the definition of loans or extensions of credit. The document further explains the concept of combination, where loans or extensions of credit to one borrower are attributed to another person. It also discusses loans to partnerships, joint ventures, associations, foreign governments, and their agencies and instrumentalities. The document provides guidelines for calculating lending limits, dealing with nonconforming loans, and the director’s authority to require reduction of excessive loans or extensions of credit. Overall, this document sets forth the rules and regulations regarding loans and extensions of credit by banks.
Whom does it apply to?
Banks
What does it govern?
Limitations on loans, investments, and practices
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Idaho