reglab/housing_qa huggingface dataset:
ID Code § 68-309 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 3 - UNIFORM FIDUCIARIES LAW|Section 68-309 - DEPOSIT IN FIDUCIARY’S PERSONAL ACCOUNT.

68-309. DEPOSIT IN FIDUCIARY’S PERSONAL ACCOUNT. If a fiduciary makes a deposit in a bank to his personal credit of checks drawn by him upon an account in his own name as fiduciary or of the checks payable to him as fiduciary, or of checks drawn by him upon an account in the name of his principal if he is empowered to draw checks thereon, or of checks payable to his principal and indorsed by him, if he is empowered to indorse such checks, or if he otherwise makes a deposit of funds held by him as fiduciary, the bank receiving such deposit is not bound to inquire whether the fiduciary is committing thereby a breach of his obligations as fiduciary; and the bank is authorized to pay the amount of the deposit or any part thereof upon the personal check of the fiduciary without being liable to the principal, unless the bank receives the deposit or pays the check with actual knowledge that the fiduciary is committing a breach of his obligation as fiduciary in making such deposit or in drawing such check, or with knowledge of such facts that its action in receiving the deposit or paying the check amounts to bad faith.  History: [(68-309) 1925, ch. 217, sec. 9, p. 393; I.C.A., sec. 66-309.]
ID Code § 68-310 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 3 - UNIFORM FIDUCIARIES LAW|Section 68-310 - DEPOSIT IN NAMES OF TWO OR MORE TRUSTEES.

68-310. DEPOSIT IN NAMES OF TWO OR MORE TRUSTEES. When a deposit is made in a bank in the name of two (2) or more persons as trustees and a check is drawn upon the trust account by any trustee or trustees authorized by the other trustee or trustees to draw checks upon the trust account, neither the payee nor other holder nor the bank is bound to inquire whether it is a breach of trust to authorize such trustee or trustees to draw checks upon the trust account, and is not liable unless the circumstances be such that the action of the payee or other holder or the bank amounts to bad faith.  History: [(68-310) 1925, ch. 217, sec. 10, p. 393; I.C.A., sec. 66-310.]
ID Code § 68-311 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 3 - UNIFORM FIDUCIARIES LAW|Section 68-311 - CHAPTER NOT RETROACTIVE.

68-311. CHAPTER NOT RETROACTIVE. The provisions of this chapter shall not apply to transactions taking place prior to the time when it takes effect.  History: [(68-311) 1925, ch. 217, sec. 11, p. 393; I.C.A., sec. 66-311.]
ID Code § 68-312 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 3 - UNIFORM FIDUCIARIES LAW|Section 68-312 - CASES NOT PROVIDED FOR IN CHAPTER.

68-312. CASES NOT PROVIDED FOR IN CHAPTER. In any case not provided for in this chapter the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments and banking, shall continue to apply.  History: [(68-312) 1925, ch. 217, sec. 12, p. 393; I.C.A., sec. 66-312.]
ID Code § 68-313 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 3 - UNIFORM FIDUCIARIES LAW|Section 68-313 - UNIFORMITY OF INTERPRETATION.

68-313. UNIFORMITY OF INTERPRETATION. This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it.  History: [(68-313) 1925, ch. 217, sec. 13, p. 393; I.C.A., sec. 66-313.]
ID Code § 68-314 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 3 - UNIFORM FIDUCIARIES LAW|Section 68-314 - SHORT TITLE.

68-314. SHORT TITLE. This chapter may be cited as the Uniform Fiduciaries Law.  History: [(68-314) 1925, ch. 217, sec. 14, p. 393; I.C.A., sec. 66-314.]
ID Code § 68-315 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 3 - UNIFORM FIDUCIARIES LAW|Section 68-315 - INCONSISTENT LAWS REPEALED.

68-315. INCONSISTENT LAWS REPEALED. All acts or parts of acts inconsistent with this chapter are hereby repealed.  History: [(68-315) 1925, ch. 217, sec. 15, p. 393; I.C.A., sec. 66-315.]
ID Code § 68-401 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 4 - LEGAL INVESTMENTS|Section 68-401 - MORTGAGE LOANS INSURABLE BY FEDERAL HOUSING ADMINISTRATOR — AUTHORITY TO MAKE.

68-401. MORTGAGE LOANS INSURABLE BY FEDERAL HOUSING ADMINISTRATOR — AUTHORITY TO MAKE. The following persons, corporations, institutions and officers are hereby authorized to make such loans, secured by real property or leasehold as the federal housing administrator insures or makes a commitment to insure, and may obtain such insurance, to-wit: banks, trust companies, insurance companies, loan and building corporations, building and loan associations, savings and loan associations, and other savings and/or investment institutions, guardians, executors, administrators, trustees and other fiduciaries, and all other persons, associations and corporations subject to the laws of this state and qualified and licensed to make such loans.  History: [48-401, added 1935, ch. 3, sec. 1, p. 14; am. 1935, ch. 127, sec. 1, p. 299; am. 1937, ch. 26, sec. 1, p. 36.]
ID Code § 68-402 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 4 - LEGAL INVESTMENTS|Section 68-402 - SECURITIES OF FEDERAL HOUSING ADMINISTRATOR AND NATIONAL MORTGAGE ASSOCIATIONS LEGAL INVESTMENTS.

68-402. SECURITIES OF FEDERAL HOUSING ADMINISTRATOR AND NATIONAL MORTGAGE ASSOCIATIONS LEGAL INVESTMENTS. It shall be lawful for banks, trust companies, insurance companies, loan and building corporations, building and loan associations, savings and loan associations, and other savings and/or investment institutions, guardians, executors, administrators, trustees and other fiduciaries, and all other persons, associations and corporations subject to the laws of this state, qualified thereto, to invest their funds and the moneys in their custody or possession eligible for investment in notes or bonds secured by mortgage or deed of trust insured or debentures issued, by the federal housing administrator, and in securities and stocks of national mortgage associations.  History: [68-402, added 1935, ch. 3, sec. 2, p. 14; am. 1935, ch. 127, sec. 2, p. 299; am. 1937, ch. 26, sec. 2, p. 36; am. 1957, ch. 108, sec. 1, p. 186.]
ID Code § 68-403 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 4 - LEGAL INVESTMENTS|Section 68-403 - OTHER LAWS DECLARED INAPPLICABLE.

68-403. OTHER LAWS DECLARED INAPPLICABLE. No law of this state, requiring securities upon which loans or investments may be made or prescribing the nature, amount or form of such security, or prescribing or limiting the period for which loans or investments may be made, shall be deemed to apply to loans or investments made pursuant to the authority granted in this act.  History: [68-403, added 1935, ch. 3, sec. 3, p. 14; reen. 1935, ch. 127, sec. 3, p. 299.]
ID Code § 68-404 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 4 - LEGAL INVESTMENTS|Section 68-404 - FEDERAL HOME LOAN BANK SECURITIES MADE LEGAL INVESTMENTS.

68-404. FEDERAL HOME LOAN BANK SECURITIES MADE LEGAL INVESTMENTS. Executors, administrators, guardians, trustees and other fiduciaries of every kind and nature, land and building corporations, building and loan associations, savings and loan associations and other savings or investment institutions, trust companies, banks and insurance companies, incorporated under the laws of this state, are authorized, in addition to investments now authorized by laws of this state, to invest in bonds and other obligations of, or guaranteed as to interest and principal by, the United States, either directly or through securities of or other interests in any unincorporated investment company or investment trust registered under the federal investment company act of 1940, as from time to time amended, provided that the portfolio of such investment company or investment trust is limited to obligations of the United States government and its agencies and instrumentalities, the payment of which is fully guaranteed as to principal and interest by the United States government, and to repurchase agreements fully collateralized by any such obligations, provided that such investment company or investment trust takes delivery of such collateral either directly or through an authorized custodian; bonds or debentures issued by any federal home loan bank in accordance with the provisions of the Federal Home Loan Bank Act, and amendments thereto; consolidated federal home loan bank bonds or debentures issued by the federal home loan bank board in accordance with the provisions of the Federal Home Loan Bank Act, and amendments thereto; bonds or debentures issued by the Federal Savings and Loan Insurance Corporation in accordance with the provisions of title IV of the National Housing Act, and amendments thereto; shares or accounts of land and building corporations, savings and loan associations, building and loan associations, and other savings or investment institutions, incorporated under the laws of this state, which have been insured by the Federal Savings and Loan Insurance Corporation; and shares or accounts of federal savings and loan associations incorporated under the provisions of Home Owners’ Loan Act of 1933, and amendments thereto, doing business in this state, which have been insured by the Federal Savings and Loan Insurance Corporation.  History: [68-404, added 1937, ch. 62, sec. 1, p. 83; am. 1992, ch. 239, sec. 1, p. 711.]
ID Code § 68-404A (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 4 - LEGAL INVESTMENTS|Section 68-404A - BANKS AND TRUST COMPANIES — INVESTMENT IN MUTUAL FUNDS.

68-404A. BANKS AND TRUST COMPANIES — INVESTMENT IN MUTUAL FUNDS. (1) In addition to other investments authorized by law for the investment of funds held by a fiduciary, or by the instrument governing the fiduciary relationship, and notwithstanding any other provision of law, a bank or trust company acting as a fiduciary, agent or otherwise may, in the exercise of its investment discretion or at the direction of another person authorized to direct the investment of funds held by the bank or trust company as a fiduciary, invest and reinvest in the securities of an open-end or closed-end management investment company or investment trust registered under the federal investment company act of 1940. (2) The fact that the bank or trust company or an affiliate of the bank or trust company provides services to the investment company or investment trust as an investment advisor, custodian, transfer agent, registrar, sponsor, distributor, manager or otherwise and is receiving reasonable remuneration for those services, shall not preclude such bank or trust company from investing or reinvesting in the securities of such investment company or investment trust.  History: [68-404A, added 1992, ch. 54, sec. 1, p. 160.]
ID Code § 68-405 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 4 - LEGAL INVESTMENTS|Section 68-405 - HOUSING BONDS LEGAL INVESTMENTS.

68-405. HOUSING BONDS LEGAL INVESTMENTS. Notwithstanding any restrictions on investments contained in any laws of this state all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all executors, administrators, guardians, trustees and other fiduciaries may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds or other obligations issued by a housing authority pursuant to the Housing Authorities Law of this state, or issued by any public housing authority or agency in the United States, when such bonds or other obligations are secured by a pledge of annual contributions to be paid by the United States government or any agency thereof; it being the purpose of this act to authorize any private persons or corporations to use any funds owned or controlled by them, including (but not limited to) sinking, insurance, investment and trust funds, and funds held on deposit, for the purchase of any such bonds or other obligations; provided, however, that nothing contained in this act shall be construed as relieving any person, firm or corporation from any duty of exercising reasonable care in selecting securities.  History: [68-405, added 1939, ch. 232, sec. 1, p. 528.]
ID Code § 68-406 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 4 - LEGAL INVESTMENTS|Section 68-406 - LIFE, ENDOWMENT AND ANNUITY CONTRACTS — INVESTMENT OF FUNDS.

68-406. LIFE, ENDOWMENT AND ANNUITY CONTRACTS — INVESTMENT OF FUNDS. All guardians, trustees and other fiduciaries may legally invest any funds administered by them in any life, endowment or annuity contracts issued by any legal reserve life insurance company authorized to do business in the state of Idaho, it being the purpose of this act to authorize any private person, bank, trust company or other institution acting as guardian, trustee or fiduciary to invest funds coming into their possession or under their control as such guardian, trustee or fiduciary in any life, endowment, or annuity contracts issued by any legal reserve insurance company authorized to do business in the state of Idaho, when, in their opinion, it will be for the best interests of their wards or trust estate, provided, however, that whenever an order of the probate court or other court has been heretofore required by law for the investment of any funds being administered by such guardian, trustee or other fiduciary, then such order shall be required in cases of investment of funds under this act.  History: [68-406, added 1947, ch. 206, sec. 1, p. 482.]
ID Code § 68-407 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 4 - LEGAL INVESTMENTS|Section 68-407 - PUBLIC AND TRUST FUNDS — INVESTMENT IN PORT DISTRICT OBLIGATIONS.

68-407. PUBLIC AND TRUST FUNDS — INVESTMENT IN PORT DISTRICT OBLIGATIONS. Notwithstanding the provisions of the Public Depository Law, or of any other statute of the state of Idaho to the contrary, it shall be lawful for the state of Idaho and any of its departments, institutions and agencies, municipalities, districts and political subdivisions, and for any political or public corporation of the state, and for any insurance company, savings and loan association, and for any bank, trust company or other financial institution operating under the laws of the state of Idaho, and for any executor, administrator, guardian or conservator, trustee or other fiduciary, to invest its funds or the moneys in its custody or possession eligible for investment, in any revenue bonds or warrants or general obligation bonds or general obligation refunding bonds issued by any port district of the state of Idaho.  History: [68-407, added I.C., sec. 68-407, as added by S.L. 1967, ch. 325, sec. 1, p. 954.]
ID Code § 68-501 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-501 - PRUDENT INVESTOR RULE.

68-501. PRUDENT INVESTOR RULE. (1) Except as otherwise provided in subsection (2) of this section, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this act. (2) The prudent investor rule, a default rule, may be expanded, restricted, eliminated or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.  History: [68-501, added 1997, ch. 14, sec. 2, p. 15.]
ID Code § 68-502 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-502 - STANDARD OF CARE — PORTFOLIO STRATEGY — RISK AND RETURN OBJECTIVES.

68-502. STANDARD OF CARE — PORTFOLIO STRATEGY — RISK AND RETURN OBJECTIVES. (1) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill and caution. (2) A trustee’s investment and management decisions respecting individual assets must be evaluated not in isolation but in the context of the trust portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the trust. (3) Among circumstances that a trustee shall consider in investing and managing trust assets are such of the following as are relevant to the trust or its beneficiaries: (a) General economic conditions; (b) The possible effect of inflation or deflation; (c) The expected tax consequences of investment decisions or strategies; (d) The role that each investment or course of action plays within the overall trust portfolio, which may include financial assets, interests in closely held enterprises, tangible and intangible personal property, and real property; (e) The expected total return from income and the appreciation of capital; (f) Other resources of the beneficiaries; (g) Needs for liquidity, regularity of income and preservation or appreciation of capital; and (h) An asset’s special relationship or special value, if any, to the purposes of the trust or to one (1) or more of the beneficiaries. (4) A trustee shall make a reasonable effort to verify facts relevant to the investment and management of trust assets. (5) A trustee may invest in any kind of property or type of investment consistent with the standards of this act. (6) A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee’s representation that the trustee has special skills or expertise, has a duty to use those special skills or expertise.  History: [68-502, added 1997, ch. 14, sec. 2, p. 15.]
ID Code § 68-503 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-503 - DIVERSIFICATION.

68-503. DIVERSIFICATION. A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying.  History: [68-503, added 1997, ch. 14, sec. 2, p. 16.]
ID Code § 68-504 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-504 - DUTIES AT INCEPTION OF TRUSTEESHIP.

68-504. DUTIES AT INCEPTION OF TRUSTEESHIP. Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this act.  History: [68-504, added 1997, ch. 14, sec. 2, p. 16.]
ID Code § 68-505 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-505 - LOYALTY.

68-505. LOYALTY. A trustee shall invest and manage the trust assets solely in the interest of the beneficiaries.  History: [68-505, added 1997, ch. 14, sec. 2, p. 16.]
ID Code § 68-506 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-506 - IMPARTIALITY.

68-506. IMPARTIALITY. If a trust has two (2) or more beneficiaries, the trustee shall act impartially in investing and managing the trust assets, taking into account any differing interests of the beneficiaries.  History: [68-506, added 1997, ch. 14, sec. 2, p. 16.]
ID Code § 68-507 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-507 - INVESTMENT COSTS.

68-507. INVESTMENT COSTS. In investing and managing trust assets, a trustee may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the trust, and the skills of the trustee.  History: [68-507, added 1997, ch. 14, sec. 2, p. 16.]
ID Code § 68-508 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-508 - REVIEWING COMPLIANCE.

68-508. REVIEWING COMPLIANCE. Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee’s decision or action and not by hindsight.  History: [68-508, added 1997, ch. 14, sec. 2, p. 16.]
ID Code § 68-509 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-509 - DELEGATION OF INVESTMENT AND MANAGEMENT FUNCTIONS.

68-509. DELEGATION OF INVESTMENT AND MANAGEMENT FUNCTIONS. (1) A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill and caution in: (a) Selecting an agent; (b) Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and (c) Periodically reviewing the agent’s actions in order to monitor the agent’s performance and compliance with the terms of the delegation. (2) In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation. (3) A trustee who complies with the requirements of subsection (1) of this section is not liable to the beneficiaries or to the trust for the decisions or actions of the agent to whom the function was delegated. (4) By accepting the delegation of a trust function from the trustee of a trust that is subject to the law of the state of Idaho, an agent submits to the jurisdiction of the courts of this state.  History: [68-509, added 1997, ch. 14, sec. 2, p. 16.]
ID Code § 68-510 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-510 - LANGUAGE INVOKING STANDARD OF ACT.

68-510. LANGUAGE INVOKING STANDARD OF ACT. The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this act: "investments permissible by law for investment of trust funds," "legal investments," "authorized investments," "using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital," "prudent man rule," "prudent trustee rule," "prudent person rule" and "prudent investor rule."  History: [68-510, added 1997, ch. 14, sec. 2, p. 17.]
ID Code § 68-511 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-511 - APPLICATION TO EXISTING TRUSTS.

68-511. APPLICATION TO EXISTING TRUSTS. This act applies to trusts existing on and created after its effective date. As applied to trusts existing on its effective dates, this act governs only decisions or actions occurring after that date.  History: [68-511, added 1997, ch. 14, sec. 2, p. 17.]
ID Code § 68-512 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-512 - UNIFORMITY OF APPLICATION AND CONSTRUCTION.

68-512. UNIFORMITY OF APPLICATION AND CONSTRUCTION. This act shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this act among the states enacting it.  History: [68-512, added 1997, ch. 14, sec. 2, p. 17.]
ID Code § 68-513 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-513 - SHORT TITLE.

68-513. SHORT TITLE. This act may be cited as the "Idaho Uniform Prudent Investor Act."  History: [68-513, added 1997, ch. 14, sec. 2, p. 17.]