reglab/housing_qa huggingface dataset:
ID Code § 26-2728 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 27 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|Section 26-2728 - APPOINTMENT OF TRUSTEE — LIQUIDATION OF THE BIDCO — PROCEDURE.

26-2728. APPOINTMENT OF TRUSTEE — LIQUIDATION OF THE BIDCO — PROCEDURE. (1) If the director finds that any of the factors set forth in section 26-2727, Idaho Code, are true with respect to a licensee and that it is necessary for the protection of the interests of the licensee or for the protection of the public interest that the director take immediate possession of the property and business of the licensee, the director may appoint a conservator for the licensee. The director may appoint as conservator one (1) of the employees of the department or some other competent and disinterested person. The department shall be reimbursed out of the assets of the conservatorship for all sums expended by the department in connection with the conservatorship as expenses. Upon the approval of the director, the expenses of the conservatorship shall be paid out of the assets of the licensee. The expenses shall be a first charge upon the assets and shall be fully paid before any final distribution is made. (2) Under the direction of the director, the conservator shall take possession of the books, records, and assets of the licensee and shall take such action with respect to employees, agents, or representatives of the licensee or any other action as may be necessary to conserve the assets of the licensee or ensure payment of obligations of the licensee pending further disposition of its business as provided by law. At any appropriate time, the director may terminate the conservatorship and permit the licensee to resume the transaction of its business subject to the terms, conditions, restrictions and limitations the director may prescribe. (3) If in the opinion of the director it is appropriate that the licensee be liquidated, the director may apply to the district court for the county in which the principal office of the licensee is located for the appointment of a receiver for the licensee, if the director determines that any of the following are true: (a) The licensee is insolvent. (b) The licensee has suspended payment of its obligations, has made an assignment for the benefit of its creditors, or has admitted in writing its inability to pay its debts as they become due. (c) The licensee has applied for an adjudication of bankruptcy, reorganization, arrangement, or other relief under a bankruptcy, reorganization, insolvency, or moratorium law. (d) A person has applied for the relief described under paragraph (c) against any licensee and that licensee has by an affirmative act approved of or consented to the action or the relief has been granted. (e) The licensee is in a condition that makes it unsafe or unsound for the licensee to transact business. (4) If a receiver is appointed under subsection (3) of this section, the receiver shall liquidate the property and business of the licensee in the manner provided for in chapter 10, title 26, Idaho Code, as if the licensee were a bank.  History: [26-2728, added 1989, ch. 252, sec. 1, p. 622.]
ID Code § 26-2729 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 27 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|Section 26-2729 - VIOLATION OF CHAPTER — CIVIL PENALTIES.

26-2729. VIOLATION OF CHAPTER — CIVIL PENALTIES. (1) If, after notice and the opportunity for a hearing, the director finds that a person has violated the provisions of this chapter, he may order that person to pay to the director a civil penalty in the amount the director specifies. However, the amount of the civil penalty shall not exceed one thousand dollars ($1,000) for each violation, or in the case of a continuing violation, one thousand dollars ($1,000) for each day during which the violation continues. Money collected for a civil penalty under this section shall be deposited into the finance administrative account pursuant to section 67-2702, Idaho Code. (2) The provisions of this section do not apply to any act committed or omitted in good faith in conformity with an order, rule, declaratory ruling, or written interpretative opinion of the director, notwithstanding that the order, rule, declaratory ruling, or written interpretative opinion is later amended, rescinded, or repealed, or determined by judicial or other authority to be invalid for any reason. (3) The provisions of subsection (1) of this section are additional to, and not alternative to, other provisions of this chapter which authorize the director to issue orders or to take other action on account of a violation of the provisions of this chapter.  History: [26-2729, added 1989, ch. 252, sec. 1, p. 623; am. 2002, ch. 145, sec. 13, p. 418.]
ID Code § 26-2731 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 27 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|Section 26-2731 - CONSTRUCTION — PROMULGATION OF RULES — APPLICABILITY OF CHAPTER.

26-2731. CONSTRUCTION — PROMULGATION OF RULES — APPLICABILITY OF CHAPTER. This chapter shall be liberally construed to accomplish its purposes. A proceeding to promulgate rules or a proceeding regarding civil penalties under section 26-2729, Idaho Code, shall be subject to the administrative procedure act contained in chapter 52, title 67, Idaho Code. Except as otherwise provided in this section, the provisions of a licensee’s incorporating statute apply to the licensee. If a provision of the licensee’s incorporating statute conflicts with any provision of this chapter, this chapter controls.  History: [26-2731, added 1989, ch. 252, sec. 1, p. 625; am. 2002, ch. 145, sec. 14, p. 418.]
ID Code § 26-2732 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 27 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|Section 26-2732 - SHORT TITLE.

26-2732. SHORT TITLE. This chapter may be cited as the "Business and Industrial Development Corporation Act."  History: [26-2732, added 1989, ch. 252, sec. 1, p. 626.]
ID Code § 26-2901 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2901 - SHORT TITLE.

26-2901. SHORT TITLE. This chapter may be known and cited as the "Idaho Money Transmitters Act."  History: [26-2901, added 1994, ch. 410, sec. 1, p. 1282.]
ID Code § 26-2903 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2903 - LICENSE REQUIRED.

26-2903. LICENSE REQUIRED. (1) On or after the effective date of this act, no person except a person exempt pursuant to the provisions of section 26-2904, Idaho Code, shall engage in the business of money transmission without a license as provided in accordance with the provisions of this chapter. (2) A licensee may conduct its business in this state at one (1) or more locations, directly or indirectly owned, or through one (1) or more authorized representatives, or both, pursuant to the single license granted to the licensee. (3) The director may permit multiple corporations, which are directly or indirectly commonly controlled, to engage in activities under the provisions of this chapter, pursuant to a single bond or other security device in satisfaction of the requirements of section 26-2908, Idaho Code.  History: [26-2903, added 1994, ch. 410, sec. 1, p. 1284.]
ID Code § 26-2904 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2904 - EXEMPTIONS.

26-2904. EXEMPTIONS. (1) This chapter shall not apply to: (a) The United States or any department, agency or instrumentality of the United States; (b) The United States post office; (c) The state or any political subdivision of the state; and (d) Banks, credit unions, savings and loan associations, savings banks or mutual banks organized under the laws of any state or the United States, provided that they do not issue or sell payment instruments through authorized delegates who are not banks, credit unions, savings and loan associations, savings banks or mutual banks; and (2) Authorized representatives of a licensee, acting within the scope of authority conferred by a written contract conforming to the requirements of section 26-2918, Idaho Code, shall not be required to obtain a license pursuant to this chapter.  History: [26-2904, added 1994, ch. 410, sec. 1, p. 1284.]
ID Code § 26-2905 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2905 - LICENSE QUALIFICATIONS.

26-2905. LICENSE QUALIFICATIONS. (1) Each licensee licensed under the provisions of this chapter shall at all times have a net worth of not less than fifty thousand dollars ($50,000), calculated in accordance with generally accepted accounting principles. Licensees engaging in money transmission at more than one (1) location or through authorized representatives shall have an additional net worth of twenty-five thousand dollars ($25,000) per location or authorized representative located in the state, as applicable, to a maximum of two hundred fifty thousand dollars ($250,000). (2) Every corporate applicant, at the time of filing of an application for a license under the provisions of this chapter and at all times after a license is issued, shall be in good standing in the state of its incorporation. All noncorporate applicants shall, at the time of the filing of an application for a license under the provisions of this chapter and at all times after a license is issued, have all necessary registrations or qualifications to do business in this state.  History: [26-2905, added 1994, ch. 410, sec. 1, p. 1284.]
ID Code § 26-2906 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2906 - PERMISSIBLE INVESTMENTS.

26-2906. PERMISSIBLE INVESTMENTS. Each licensee licensed under the provisions of this chapter must at all times possess permissible investments having an aggregate market value, calculated in accordance with generally accepted accounting principles, of not less than the aggregate face amount of all outstanding payment instruments issued or sold by the licensee in the United States. This requirement may be waived by the director if the dollar volume of a licensee’s outstanding payment instruments does not exceed the bond or other security devices posted by the licensee pursuant to section 26-2908, Idaho Code. Permissible investments, even if commingled with other assets of the licensee, shall be deemed by operation of law to be held in trust for the benefit of the purchasers and holders of the licensee’s outstanding payment instruments in the event of the bankruptcy of the licensee, and shall be immune from attachment by creditors or judgment holders.  History: [26-2906, added 1994, ch. 410, sec. 1, p. 1285; am. 1999, ch. 274, sec. 1, p. 688.]
ID Code § 26-2909 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2909 - APPLICATION FEE.

26-2909. APPLICATION FEE. Each application must be accompanied by a nonrefundable application fee in the amount of one hundred dollars ($100) for the license. The application fee shall also constitute the license fee for the applicant’s first year of activities if the license is granted. All fees, fines, examination and miscellaneous charges provided for in accordance with the provisions of this chapter shall be paid to the director and shall be deposited into the finance administrative account pursuant to section 67-2702, Idaho Code.  History: [26-2909, added 1994, ch. 410, sec. 1, p. 1288.]
ID Code § 26-2910 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2910 - ISSUANCE OF LICENSE.

26-2910. ISSUANCE OF LICENSE. (1) Upon the filing of a complete application, the director shall investigate the financial condition and responsibility, financial and business experience, character and general fitness of the applicant. The director may conduct an on-site investigation of the applicant, the actual cost of which shall be borne by the applicant. If the director finds that the applicant’s business will be conducted honestly, fairly, and in a manner commanding the confidence and trust of the community, and that the applicant has fulfilled the requirements imposed in this chapter and has paid the required license fee, the director shall issue a license to the applicant authorizing the applicant to engage in the licensed activities in this state for a term of one (1) year. If these requirements have not been met, the director shall deny the application in writing setting forth the reasons for the denial. (2) The director shall approve or deny every application for an original license within one hundred eighty (180) days from the date a complete application is submitted, which period may be extended by the written consent of the applicant. The director shall notify the applicant of the date when the application is deemed complete. In the absence of approval or denial of the application, or consent to the extension of the one hundred eighty (180) day period, the application is deemed approved and the director shall issue the license effective as of the first day after the one hundred eighty (180) day or extended period has elapsed. (3) Any applicant aggrieved by a denial issued by the director under the provisions of this section may at any time within thirty (30) days from the date of receipt of written notice of the denial contest the denial by serving a response on the director. The director shall set a date for a hearing not later than sixty (60) days after service of the response, unless a later date is set with the consent of the denied applicant.  History: [26-2910, added 1994, ch. 410, sec. 1, p. 1288.]
ID Code § 26-2911 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2911 - RENEWAL OF LICENSE AND ANNUAL REPORT.

26-2911. RENEWAL OF LICENSE AND ANNUAL REPORT. (1) Each licensee shall file with the director an annual report, in a form prescribed by the director, which form shall be sent by the director to each licensee no later than three (3) months immediately preceding the thirtieth day of June of each year, or as the director in his discretion, may determine. The licensee must include each of the following in its annual renewal report: (a) A copy of its most recent audited consolidated annual financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder’s equity and statement of changes in financial position; or, in the case of a licensee that is a wholly owned subsidiary of a parent corporation, the consolidated audited annual financial statement of the parent corporation may be filed with the licensee’s unaudited annual financial statement. In the event any licensee does not otherwise obtain audited financial statements, such licensee shall, in lieu of audited financial statements required in this section, furnish the director with federal income tax returns covering the required periods together with copies of such unaudited, compiled or reviewed financial statements as the licensee shall have prepared or obtained for other purposes, including, without limitation, the most recent financial statements, if any, furnished to licensee’s bank or other lending institution. (b) For the most recent quarter for which data is available prior to the date of the filing of the renewal application, but in no event more than one hundred twenty (120) days prior to the renewal date, the licensee must provide the number of payment instruments sold by the licensee in the state, the dollar amount of those instruments and the dollar amount of those instruments currently outstanding. (c) Any material changes in any of the information submitted by the licensee on its original application which have not previously been reported to the director on any other report required to be filed under the provisions of this chapter. (d) A list of the licensee’s permissible investments; and if an audited financial statement has not been provided, the licensee shall provide a certification by an independent certified public accountant that the licensee has complied with the provisions of section 26-2906, Idaho Code. (e) A list of the locations within this state at which business regulated by the provisions of this chapter is being conducted by either the licensee or its authorized representative. (2) A licensee that has not filed an annual report by the renewal filing deadline and has not been granted an extension of time to do so by the director shall be notified by the director, in writing, that a hearing will be scheduled at which time the licensee will be required to show cause why its license should not be suspended pending compliance with this requirement.  History: [26-2911, added 1994, ch. 410, sec. 1, p. 1289.]
ID Code § 26-2912 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2912 - EXTRAORDINARY REPORTING REQUIREMENTS.

26-2912. EXTRAORDINARY REPORTING REQUIREMENTS. Within fifteen (15) days of the occurrence of any one (1) of the events listed below, a licensee shall file a written report with the director describing such event: (1) The filing for bankruptcy or reorganization by the licensee; (2) The institution of revocation or suspension proceedings against the licensee by any state or government authority with regard to the licensee’s money transmission activities; (3) Any felony indictment, complaint or information of the licensee or any of its key officers or directors; or (4) Any felony conviction of the licensee or any of its key officers or directors.  History: [26-2912, added 1994, ch. 410, sec. 1, p. 1290.]
ID Code § 26-2913 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2913 - CHANGES IN CONTROL OF A LICENSE.

26-2913. CHANGES IN CONTROL OF A LICENSE. (1) Within fifteen (15) days of a change or acquisition of control of a licensee that is a publicly traded corporation or is a direct or indirect subsidiary of a publicly traded corporation, the licensee shall provide notice of such event to the director in writing. (2) Licensees other than publicly traded corporations or direct or indirect subsidiaries of publicly traded corporations must notify the director in writing thirty (30) days prior to a change of control.  History: [26-2913, added 1994, ch. 410, sec. 1, p. 1290.]
ID Code § 26-2915 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2915 - MAINTENANCE OF RECORDS.

26-2915. MAINTENANCE OF RECORDS. (1) Each licensee shall make, keep, and preserve the following books, accounts and other records for a period of three (3) years: (a) A record or records of payment instruments sold; (b) A general ledger containing all asset, liability, capital, income and expense accounts, which general ledger shall be posted at least monthly; (c) Settlement sheets, if received from authorized representatives; (d) Bank statements and bank reconciliation records; (e) Records of outstanding payment instruments; (f) Records of each payment instrument paid within the three (3) year period; (g) A list of the names and addresses of all of the licensee’s authorized representatives, as well as copies of each authorized representative’s contract; and (h) All reports required by federal currency reporting, recordkeeping, and suspicious transaction reporting requirements as set forth in 31 U.S.C. sec. 5311, 31 CFR part 103 (2000), and other federal and state laws pertaining to money laundering. (2) Maintenance of such documents as are required in this section in a photographic or other similar form shall constitute compliance with the provisions of this section. (3) Records may be maintained at a location other than at a location within this state so long as they are made accessible to the director on seven (7) days’ written notice.  History: [26-2915, added 1994, ch. 410, sec. 1, p. 1291; am. 2005, ch. 142, sec. 2, p. 439.]
ID Code § 26-2916 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2916 - CONFIDENTIALITY OF DATA SUBMITTED TO THE DIRECTOR.

26-2916. CONFIDENTIALITY OF DATA SUBMITTED TO THE DIRECTOR. (1) All information or reports obtained by the director from an applicant, licensee or authorized representative, whether obtained through reports, applications, examinations, audits, investigation, or otherwise including, but not limited to: (a) All information contained in or related to examination, investigation, operating, or condition reports reported by, on behalf of, or for the use of the director; or (b) Financial statements, balance sheets, or authorized representative information; are confidential trade secrets and may not be disclosed or distributed outside the department in accordance with the provisions of chapter 1, title 74, Idaho Code, by the director or any officer or employee of the department. (2) The director, however, may provide for the release of information to representatives of state or federal agencies who state in writing that they shall maintain the confidentiality of such information or if the director finds that the release is reasonably necessary for the protection of the public and in the interests of justice. (3) Nothing in this section shall prohibit the director from releasing to the public a list of persons licensed under the provisions of this chapter or to release aggregated financial data on such licensees.  History: [26-2916, added 1994, ch. 410, sec. 1, p. 1291; am. 1997, ch. 60, sec. 3, p. 118; am. 2005, ch. 142, sec. 3, p. 439; am. 2015, ch. 141, sec. 45, p. 415.]
ID Code § 26-2917 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 29 - MONEY TRANSMISSION|Section 26-2917 - SUSPENSION OR REVOCATION OF LICENSES.

26-2917. SUSPENSION OR REVOCATION OF LICENSES. After notice and opportunity for hearing, the director may suspend or revoke a licensee’s license if the director finds that: (1) Any fact or condition exists that, if it had existed at the time when the licensee applied for a license, would have been grounds for denying such application; (2) The licensee’s net worth becomes inadequate and the licensee, after ten (10) days’ written notice from the director, fails to take such steps as the director deems necessary to remedy such deficiency; (3) The licensee violates any provisions of this chapter or any rule or order of the director under the provisions of this chapter or is convicted of a violation of a state or federal money laundering or terrorism law; (4) The licensee is conducting its business in an unsafe or unsound manner; (5) The licensee is insolvent; (6) The licensee has suspended payment of its obligations, has made an assignment for the benefit of its creditors, or has admitted in writing its inability to pay its debts as they become due; (7) The licensee has applied for an adjudication of bankruptcy, reorganization, arrangement or other relief under any bankruptcy; (8) The licensee refuses to permit the director to make any examination authorized in this chapter; (9) The licensee willfully fails to make any report required in this chapter; or (10) The licensee, any person who exercises any managerial authority over the licensee’s activities, or any of its executive officers or other persons in control of the licensee are listed or become listed on the "specially designated nationals and blocked persons" list prepared by the United States department of the treasury as a potential threat to commit terrorist acts or to finance terrorist acts.  History: [26-2917, added 1994, ch. 410, sec. 1, p. 1292; am. 2005, ch. 142, sec. 4, p. 440.]