reglab/housing_qa huggingface dataset:
ID Code § 26-602 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 6 - RESERVES, SURPLUS AND DIVIDENDS|Section 26-602 - DIMINUTION OF RESERVE.

26-602. DIMINUTION OF RESERVE. (1) When the reserve of any bank falls below the amount required by section 26-601, Idaho Code, for any reporting period, the bank shall immediately restore its reserve to the amount required by section 26-601, Idaho Code, and in addition: (a) If a bank is deficient in reserve for two (2) nonconsecutive reporting periods in a calendar year, the bank shall pay to the department of finance at the end of the second reporting period a fine of three hundred dollars ($300). (b) If a bank is deficient in reserves for three (3) nonconsecutive reporting periods in a calendar year, the bank shall pay to the department of finance at the end of the third reporting period a fine equal to five percent (5%) of the dollar amount by which it was deficient in reserves for the third reporting period or five hundred dollars ($500), whichever is greater. (c) If a bank is deficient in reserves for more than three (3) nonconsecutive reporting periods or for two (2) or more consecutive reporting periods in a calendar year, the director shall proceed as provided in section 26-1115, Idaho Code. The bank shall not increase its loans or discounts until its reserve is fully restored and the director may by order set a minimum level of cash reserves which the bank must maintain until such time as the director has reason to believe that the bank will comply with the reserve requirements of section 26-601, Idaho Code. (2) The penalties set out in subsection (1) of this section are not exclusive. The director may in proper cases proceed in his discretion as provided in section 26-1115, Idaho Code, or chapter 10, title 26, Idaho Code.  History: [26-602, added 1979, ch. 41, sec. 2, p. 86; am. 2008, ch. 140, sec. 6, p. 405.]
ID Code § 26-604 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 6 - RESERVES, SURPLUS AND DIVIDENDS|Section 26-604 - DIVIDENDS — SURPLUS.

26-604. DIVIDENDS — SURPLUS. No dividend shall be declared or paid by any bank until a surplus equal to twenty percent (20%) of the paid-in capital stock of such bank has been built up. Thereafter, the board of directors of any bank may declare a dividend of so much of its net profits as it shall deem expedient; but before any such dividend is declared or paid, not less than one-fifth (1/5) of the net profits of the bank for such period as is covered by the dividend shall be carried to the surplus fund until such surplus fund shall amount to fifty percent (50%) of the paid-in common stock. Any loss sustained by any bank in excess of its undivided profits may be charged to its surplus account, provided that its surplus funds shall thereafter be reimbursed from its earnings in the manner above provided. If such surplus fund is reduced below an amount equal to twenty percent (20%) of the common stock, no further dividend shall be declared or paid until such surplus is restored to that amount, and thereafter dividends shall only be declared and paid in the amount and in the manner above provided until such surplus shall be restored to an amount equal to fifty percent (50%) of the common stock. The directors knowingly voting for any dividend in violation of any of the provisions of this section shall be jointly and severally liable, civilly, for any and all dividends so declared, and in addition thereto, shall be guilty of a misdemeanor.  History: [26-604, added 1979, ch. 41, sec. 2, p. 87.]
ID Code § 26-701 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-701 - INVESTMENT OF FUNDS — CERTAIN LOANS PROHIBITED.

26-701. INVESTMENT OF FUNDS — CERTAIN LOANS PROHIBITED. No bank shall employ its moneys, directly or indirectly, in trade or commerce, by buying and selling goods, chattels, wares and merchandise, except to the extent national banks are so authorized if approved by the director. A bank may hold and sell all kinds of property which may come into its possession as collateral security for loans, or any ordinary collection of debts, as prescribed by law. Any goods, chattels, wares or merchandise coming into the possession of any bank as collateral security or as a result of collection of debts shall be disposed of as soon as possible and shall not be considered as a part of the bank’s assets after the expiration of two (2) years from the date of acquirement. The words "goods and chattels" as used in this section shall not be construed to include bonds and securities.  History: [26-701, added 1979, ch. 41, sec. 2, p. 87; am. 1993, ch. 53, sec. 3, p. 141.]
ID Code § 26-702 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-702 - BANK STOCK.

26-702. BANK STOCK. (1) Except as provided in subsection (2) of this section, no bank shall accept as collateral, nor make any loans or discounts on the security of nor purchase any shares of its own capital stock. No bank shall purchase the shares of any other bank wherever organized, or situated, except stock of federal reserve banks. A bank may acquire a security interest in or purchase its own stock if the acquisition is necessary to prevent loss upon a debt previously contracted in good faith and the stock so purchased or acquired shall within six (6) months from the date of acquirement be sold or disposed of at public or private sale. After the expiration of six (6) months any such stock shall not be considered as a part of the assets of such bank. (2) With the written approval of the director, a bank may redeem or otherwise purchase shares of its own capital stock if the director finds that such redemption or purchase does not impair the capital structure of the bank as required by section 26-205, Idaho Code, is for legitimate corporate purposes and not for speculation, is not for an unreasonable price, does not conflict with the articles of incorporation or the bylaws of the bank, and is not otherwise detrimental to the bank or to the public interest. Legitimate corporate purposes for acquiring and holding of treasury stock may include: (a) To have shares available for use in connection with employee stock option, bonus, purchase or similar plans; (b) To sell to a director for the purpose of acquiring qualifying shares; (c) To purchase a director’s qualifying shares upon cessation of the director’s service in that capacity if there is no ready market for the shares; (d) To reduce the number of shareholders to qualify as a subchapter S corporation; (e) To reduce costs associated with shareholder communications and meetings; (f) To facilitate a bank’s shareholder dividend reinvestment plan; or (g) Any other legitimate corporate purpose as may be approved by the director.  History: [26-702, added 1979, ch. 41, sec. 2, p. 88; am. 1986, ch. 58, sec. 1, p. 167; am. 2008, ch. 140, sec. 7, p. 405.]
ID Code § 26-703 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-703 - REAL ESTATE LOANS.

26-703. REAL ESTATE LOANS. Any bank may make real estate loans secured by liens upon improved real estate, including improved farm land and improved business and residential properties, as are consistent with safe and sound banking practices. A loan secured by real estate within the meaning of this section shall be in the form of an obligation or obligations secured by mortgage, trust deed, or other such instrument which shall constitute a lien upon real estate.  History: [26-703, added 1979, ch. 41, sec. 2, p. 88; am. 2004, ch. 159, sec. 2, p. 515; am. 2007, ch. 126, sec. 3, p. 378.]
ID Code § 26-704 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-704 - DETERMINATION OF LIMITS OF LOANS AND INVESTMENTS OF BANKS.

26-704. DETERMINATION OF LIMITS OF LOANS AND INVESTMENTS OF BANKS. For the purpose of determining limitations on loans and investments the following items are to be disregarded: (1) The sale of excess reserve funds by one (1) bank to another bank; (2) The purchase of securities by a bank, under an agreement to resell at the end of a stated period; and (3) The purchase of mortgage loans by a bank, under agreement to resell at the end of a stated period. The director may, upon application by a bank, approve loans and investments in excess of the limitations provided in this chapter.  History: [(26-704) 26-708, added 1979, ch. 41, sec. 2, p. 90; am. and redesig. 2004, ch. 159, sec. 4, p. 515.]
ID Code § 26-706 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-706 - LOANS TO OFFICERS AND DIRECTORS.

26-706. LOANS TO OFFICERS AND DIRECTORS. Except as authorized under this section, no bank may extend credit in any manner to any of its own executive officers. Any extension of credit under this section must be approved by the board of directors of the bank, and may be made only if such credit extension comports with the principles of safety and soundness and is in compliance with regulation O of the board of governors of the federal reserve system, 12 CFR 215. Each executive officer and director who receives an extension of credit from the bank shall submit a personal financial statement to the chief executive officer of the bank at least once during each calendar year and such financial statement shall be made available to federal or state regulatory agencies upon request by the agency.  History: [(26-706) 26-710, added 1979, ch. 41, sec. 2, p. 91; am. 1990, ch. 93, sec. 1, p. 193; am. 1995, ch. 99, sec. 4, p. 301; am. and redesig. 2004, ch. 159, sec. 6, p. 521; am. 2007, ch. 126, sec. 4, p. 378.]
ID Code § 26-708 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-708 - VALUATION OF ASSETS.

26-708. VALUATION OF ASSETS. No bank shall enter or at any time carry on its books any of its assets at a valuation exceeding their actual cost to the bank; nor shall the value of any of its assets be increased on the books of the bank without the written consent of the director. Additional charges, delinquency charges and other similar charges on consumer credit transactions permitted by and made in compliance with the Idaho Credit Code and added to the principal balance of the loan, shall not come within the prohibition of this section.  History: [(26-708) 26-712, added 1979, ch. 41, sec. 2, p. 93; am. and redesig. 2004, ch. 159, sec. 8, p. 523; am. 2008, ch. 140, sec. 8, p. 406.]
ID Code § 26-709 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-709 - STATUTORY BAD DEBT.

26-709. STATUTORY BAD DEBT. Every bank carrying any bad debt, or a debt of doubtful value, as an asset shall, upon the request or demand of the director, collect the same or put it in good bankable condition or charge it out of its books. Any debt on which interest is past due and unpaid for a period of six (6) months, unless the same is well secured and in process of collection, shall be considered a bad debt within the meaning of this section.  History: [(26-709) 26-713, added 1979, ch. 41, sec. 2, p. 93; am. and redesig. 2004, ch. 159, sec. 9, p. 523.]
ID Code § 26-710 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-710 - OWNERSHIP AND LEASING OF PROPERTY FOR CUSTOMERS.

26-710. OWNERSHIP AND LEASING OF PROPERTY FOR CUSTOMERS. A bank may become the owner and lessor of personal property acquired upon the specific request and for the use of a customer and may incur such additional obligations as may be incident to becoming an owner and lessor of such property.  History: [(26-710) 26-714, added 1979, ch. 41, sec. 2, p. 93; am. and redesig. 2004, ch. 159, sec. 10, p. 523.]
ID Code § 26-711 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-711 - LENDING OF CREDIT — SURETYSHIP AND GUARANTYSHIP.

26-711. LENDING OF CREDIT — SURETYSHIP AND GUARANTYSHIP. A bank may lend its credit, bind itself as a surety to indemnify another, or otherwise become a guarantor, only if it has a substantial interest in the performance of the transaction involved or has a segregated deposit sufficient in amount to cover the bank’s total potential liability.  History: [(26-711) 26-715, added 1979, ch. 41, sec. 2, p. 93; am. and redesig. 2004, ch. 159, sec. 11, p. 523.]
ID Code § 26-712 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-712 - VALIDITY OF TRANSACTIONS.

26-712. VALIDITY OF TRANSACTIONS. Nothing in any law of this state shall in any manner whatsoever affect the validity of, or render void or voidable, the payment, certification or acceptance of a check or other negotiable instrument, or any other transaction by a bank in this state, because done or performed during any time other than regular banking hours.  History: [(26-712) 26-716, added 1979, ch. 41, sec. 2, p. 93; am. 1993, ch. 52, sec. 2, p. 135; am. and redesig. 2004, ch. 159, sec. 12, p. 523.]
ID Code § 26-713 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-713 - ADVERSE CLAIM TO BANK DEPOSIT.

26-713. ADVERSE CLAIM TO BANK DEPOSIT. Notice to any bank of an adverse claim to a deposit standing on its books to the credit of any person shall not require the bank to recognize the adverse claim unless the adverse claimant shall: (1) Procure a restraining order, injunction or other appropriate process against the bank from a court of competent jurisdiction wherein the person to whose credit the deposit stands is made a party and served with summons; or (2) Execute to said bank, in a form and with sureties acceptable to the bank, a bond indemnifying the bank from any and all liability, loss, damage, costs and expenses for and on account of the payment of such adverse claim or the dishonor of the check or other order of the person to whose credit the deposit stands on the books of the bank. This section shall not apply in any instance where the person to whose credit the deposit stands is a fiduciary for such adverse claimant, and the facts constituting such relationship and the facts showing reasonable cause for belief on the part of the claimant that the fiduciary is about to misappropriate the deposit, are made to appear by the affidavit of the claimant.  History: [(26-713) 26-717, added 1979, ch. 41, sec. 2, p. 94; am. and redesig. 2004, ch. 159, sec. 13, p. 524.]
ID Code § 26-714 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-714 - ACCOUNT OF PERSON UNDER DISABILITY.

26-714. ACCOUNT OF PERSON UNDER DISABILITY. Whenever any minor or any person under disability shall become a depositor, as defined in section 26-106, Idaho Code, in any bank in his or her name, such bank may pay such money on the check, order or endorsement of such depositor the same as in cases of depositors not under disability, and such payment shall be in all respects valid in law.  History: [(26-714) 26-718, added 1979, ch. 41, sec. 2, p. 94; am. and redesig. 2004, ch. 159, sec. 14, p. 524.]
ID Code § 26-715 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES|Section 26-715 - BRANCH OR OFFICE AT WHICH INSTRUMENTS ARE TO BE PRESENTED MUST BE INDICATED.

26-715. BRANCH OR OFFICE AT WHICH INSTRUMENTS ARE TO BE PRESENTED MUST BE INDICATED. All checks, drafts, bills of exchange or other orders for the payment of money drawn against any bank operating branch banks shall indicate the particular bank and branch at which the same are to be presented for payment or acceptance.  History: [(26-715) 26-719, added 1979, ch. 41, sec. 2, p. 94; am. and redesig. 2004, ch. 159, sec. 15, p. 524.]
ID Code § 26-801 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 8 - LIMITATIONS ON BORROWING MONEY AND PLEDGING ASSETS|Section 26-801 - BORROWING MONEY — LIMITATIONS.

26-801. BORROWING MONEY — LIMITATIONS. At no time shall the total borrowings of any bank exceed in the aggregate an amount equal to the capital structure of the bank, except with the consent of the director. For the purpose of computing total borrowings the following items shall not be included: (1) Federal funds purchased. (2) The sale of securities by a bank, under an agreement to repurchase at the end of a stated period. (3) Borrowings from the federal reserve system. (4) The sale of mortgage loans by a bank, under agreement to repurchase at the end of a stated period. (5) Money borrowed to meet seasonal requirements. (6) Money borrowed to meet unexpected withdrawals. (7) Capital notes issued in accordance with section 26-802, Idaho Code. (8) Borrowing from federal home loan banks. The total of all borrowings by a bank including those items excluded from the computation of total borrowings may not exceed in the aggregate an amount equal to two and one-half (2 1/2) times the capital structure of the bank, except with the consent of the director. Whenever it shall appear to the director that a bank is borrowing money in excess of the above limitation, or for purposes other than as specified above, he may require it to reduce such borrowings within a time to be fixed by him.  History: [26-801, added 1979, ch. 41, sec. 2, p. 94; am. 2004, ch. 159, sec. 16, p. 524; am. 2007, ch. 126, sec. 5, p. 378.]
ID Code § 26-802 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 8 - LIMITATIONS ON BORROWING MONEY AND PLEDGING ASSETS|Section 26-802 - ISSUANCE OF CONVERTIBLE OR NONCONVERTIBLE CAPITAL DEBENTURES AND NOTES.

26-802. ISSUANCE OF CONVERTIBLE OR NONCONVERTIBLE CAPITAL DEBENTURES AND NOTES. The issuance of convertible or nonconvertible capital debentures and notes by banks in accordance with normal business considerations is permissible. With the consent of the director, every bank is, however, authorized to issue and sell its capital notes or debentures, for all capital purposes, in an amount not to exceed one hundred percent (100%) of its unimpaired, paid-in capital stock, plus fifty percent (50%) of its unimpaired surplus fund. A bank may, with the approval of stockholders owning two-thirds (2/3) of the stock of the bank, entitled to vote, or without such approval if authorized by its articles of incorporation, issue convertible or nonconvertible capital debentures and notes in such amounts and under such terms and conditions as shall be approved by the director.  History: [26-802, added 1979, ch. 41, sec. 2, p. 95.]
ID Code § 26-803 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 8 - LIMITATIONS ON BORROWING MONEY AND PLEDGING ASSETS|Section 26-803 - BORROWING FROM FEDERAL AGENCIES.

26-803. BORROWING FROM FEDERAL AGENCIES. With the consent of the director, a bank may borrow from any agency of the United States. The limitations imposed on borrowing by this chapter shall not apply to borrowings under this section.  History: [26-803, added 1979, ch. 41, sec. 2, p. 95.]
ID Code § 26-804 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 8 - LIMITATIONS ON BORROWING MONEY AND PLEDGING ASSETS|Section 26-804 - BORROWING MONEY — ACCOUNTING.

26-804. BORROWING MONEY — ACCOUNTING. No officer or employee of any bank shall issue the note of such corporation for money borrowed or rediscount any of its paper, or pledge or hypothecate any of its assets, except when authorized by resolution of its board of directors, or by an authorized committee thereof. All borrowings shall be carried on the books of the bank, and in all reports of such bank under liabilities. All rediscounted paper containing the endorsement of or guarantee of the bank discounting the same, except when endorsed without recourse, shall be carried on the books of the bank and in all reports of such bank under liabilities as "rediscounts," until the same are actually paid by the makers, other than by renewal, or the rediscounting bank itself takes up the paper.  History: [26-804, added 1979, ch. 41, sec. 2, p. 95.]
ID Code § 26-805 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 8 - LIMITATIONS ON BORROWING MONEY AND PLEDGING ASSETS|Section 26-805 - EXTENT ASSETS MAY BE PLEDGED.

26-805. EXTENT ASSETS MAY BE PLEDGED. No bank, banker or bank officer shall, except as otherwise authorized by law, pledge or hypothecate as collateral security for money borrowed, its assets in a ratio exceeding one and one-half (1 1/2) times the amount borrowed (except as otherwise authorized by the director).  History: [26-805, added 1979, ch. 41, sec. 2, p. 96.]
ID Code § 26-806 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 8 - LIMITATIONS ON BORROWING MONEY AND PLEDGING ASSETS|Section 26-806 - GIVING SECURITY FOR DEPOSIT PROHIBITED.

26-806. GIVING SECURITY FOR DEPOSIT PROHIBITED. It shall be unlawful for any bank to pledge, mortgage or hypothecate to any depositor any of its real or personal property as security for any deposit except money of the United States, the state of Idaho and its political subdivisions, and deposits for which security is required by any law of the United States, or required or permitted by any other statute of this state. Any pledge, mortgage or hypothecation made in violation hereof shall be unenforceable and void and any person, firm or corporation, holding or receiving any security or securities mortgaged or hypothecated, pledged or attempted to be pledged, shall, upon demand of any officer, director or stockholder of the bank or the director, be required forthwith to make return thereof, and the repayment of any deposit shall not be prerequisite to the recovery of any property so unlawfully pledged, hypothecated or mortgaged.  History: [26-806, added 1979, ch. 41, sec. 2, p. 96; am. 1998, ch. 406, sec. 1, p. 1262.]
ID Code § 26-901 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION|Section 26-901 - RESULTING NATIONAL BANK.

26-901. RESULTING NATIONAL BANK. (1) Nothing in the law of this state shall restrict the right of a state bank to merge with or convert into a resulting national bank. The action to be taken by such merging or converting state bank and its rights and liabilities and those of its stockholders shall be the same as those prescribed for national banks at the time of the action by the law of the United States and not by the law of this state, except that a vote of the holders of two-thirds (2/3) of each class of voting stock of a state bank, at a meeting called in conformity with the provisions of section 26-904, Idaho Code, shall be required for the merger or conversion, and that on conversion by a state into a national bank the rights of dissenting stockholders shall be those specified in section 26-909, Idaho Code. (2) Upon the completion of the merger or conversion, the franchise of any merging or converting state bank shall automatically terminate.  History: [26-901, added 1979, ch. 41, sec. 2, p. 96.]
ID Code § 26-902 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION|Section 26-902 - RESULTING STATE BANK.

26-902. RESULTING STATE BANK. Upon approval by the director, banks may be merged to result in a state bank or a national bank may convert into a state bank as hereafter prescribed, except that the action by a national bank shall be taken in the manner prescribed by and shall be subject to limitations and requirements imposed by the law of the United States which shall also govern the rights of its dissenting stockholders.  History: [26-902, added 1979, ch. 41, sec. 2, p. 97.]