reglab/housing_qa huggingface dataset:
ID Code § 26-1812 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 18 - SAVINGS BANKS|Section 26-1812 - CONVERSIONS.

26-1812. CONVERSIONS. All conversions from one (1) form of charter to another issued by the department shall be approved in advance in writing by the director. All conversion applications filed with the director involving savings banks, including conversion applications under section 26-1813, Idaho Code, shall include a plan for establishing and maintaining adequate capital to assure the continued safe and sound operation of the bank, savings bank or credit union. Capital plans shall be subject to the approval of the director. (1) A federal savings and loan association or a federal savings bank, if organized on a capital stock basis, may convert its charter to that of an Idaho bank or a savings bank by proceeding in accordance with section 26-906, Idaho Code. (2) A federal savings bank organized on a mutual basis may converts [convert] its charter to that of an Idaho mutual savings bank by filing an application in a form approved by the director. (3) A savings bank may convert its state charter to a federal charter by complying with applicable federal law. (4) A mutual savings bank may convert its form of organization to that of a stock savings bank by complying with section 26-1813, Idaho Code. (5) A mutual savings bank may convert its form of organization to that of a credit union by filing an application in a form approved by the director. (6) A stock savings bank may convert its charter to that of a state bank by proceeding in accordance with section 26-906, Idaho Code. (7) A bank chartered under the Idaho bank act may convert its charter to that of a stock savings bank by filing an application on a form approved by the director. (8) A credit union organized under chapter 21, title 26, Idaho Code, may change its charter to that of a mutual savings bank by filing an application on a form approved by the director. (9) If permitted by federal law, a national bank may convert its charter to that of a stock savings bank by filing an application on a form approved by the director. (10) If permitted by federal law, a federal credit union may convert its charter to that of a mutual savings bank by filing an application on a form approved by the director.  History: [26-1812, added 1997, ch. 310, sec. 3, p. 920.]
ID Code § 26-1813 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 18 - SAVINGS BANKS|Section 26-1813 - MUTUAL TO STOCK CONVERSIONS.

26-1813. MUTUAL TO STOCK CONVERSIONS. A mutual savings bank may change its form of organization to that of a stock savings bank by filing an application with the director. As part of the application, the savings bank will include a plan of conversion, which the director may approve, with or without amendment, if it appears that: (1) After conversion the savings bank will be in sound financial condition; (2) The conversion will be fair and equitable to the members of the savings bank and no person whether member, employee or otherwise, will receive any inequitable gain or advantage by reason of the conversion; (3) The savings bank services provided to the public by the savings bank will not be adversely affected by the conversion; (4) The plan has been approved by a vote of two-thirds (2/3) of the board of directors of the savings bank; (5) All shares of stock issued in connection with the conversion are offered first to the members of the savings bank; (6) All stock shall be offered to members of the savings bank and others under a formula and procedure that is fair and equitable and will be fairly disclosed to all interested persons; and (7) The plan provides a statement as to whether stockholders shall have preemptive rights to acquire additional or treasury shares of the savings bank. The plan shall be submitted to the members, but only after it has been approved by the director. After lawful notice to the members of the savings bank and full and fair disclosure, the substance of the plan must be approved by a majority of the total votes that members of the savings bank are eligible and entitled to cast. The vote by the members may be in person or by proxy. Any votes by proxy must be specific to the plan and not a general proxy. Following the vote of the members, the results of the vote certified by an appropriate officer of the savings bank shall be filed with the director. The director shall then either approve or disapprove the requested change in corporate form. After approval, the director shall supervise the conversion process and shall ensure that the process is conducted lawfully and under the approved plan.  History: [26-1813, added 1997, ch. 310, sec. 3, p. 920.]
ID Code § 26-1814 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 18 - SAVINGS BANKS|Section 26-1814 - ACQUISITIONS.

26-1814. ACQUISITIONS. All acquisitions shall be approved in advance in writing by the director. (1) A mutual or stock savings bank may acquire, as defined by section 26-2605, Idaho Code, a savings bank organized in the same form. (2) A stock savings bank may acquire or be acquired by either a state or national bank with the state or national bank being the surviving bank. (3) A mutual savings bank may acquire or be acquired by a credit union, with the mutual savings bank being the surviving entity. (4) A stock savings bank may acquire or be acquired by a national or state bank with the national or state bank being the surviving entity.  History: [26-1814, added 1997, ch. 310, sec. 3, p. 921.]
ID Code § 26-1815 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 18 - SAVINGS BANKS|Section 26-1815 - FOREIGN SAVINGS AND LOAN ASSOCIATIONS.

26-1815. FOREIGN SAVINGS AND LOAN ASSOCIATIONS. A savings and loan association or savings bank chartered and operating under the laws of another state which has received a valid permit from the director of finance to do business as a savings and loan association or savings bank within this state pursuant to an application filed with and approved by the director shall be authorized to conduct such business in this state.  History: [26-1815, added 1997, ch. 310, sec. 3, p. 921.]
ID Code § 26-2101 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2101 - SCOPE.

26-2101. SCOPE. This chapter shall be known as the "Idaho Credit Union Act" and shall be applicable to all persons except federal credit unions, operating as credit unions in the state of Idaho and to such other persons as shall subject themselves to its provisions, and to such persons who shall by violating any of its provisions become subject to the penalties provided herein.  History: [26-2101, added 1977, ch. 213, sec. 2, p. 582.]
ID Code § 26-2102 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2102 - PURPOSE.

26-2102. PURPOSE. The purpose of this chapter is to allow groups of persons with a common bond as provided in this chapter to form private nonprofit cooperative corporations to be known as credit unions, to provide an opportunity for its members to use and control their own money in order to improve their economic and social condition, to promote thrift at a reasonable rate of return and provide a source of credit at fair and reasonable rates of interest to those persons included in the common bond.  History: [26-2102, added 1977, ch. 213, sec. 2, p. 582.]
ID Code § 26-2103 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2103 - SUPPLEMENTARY GENERAL PRINCIPLES OF LAW APPLICABLE.

26-2103. SUPPLEMENTARY GENERAL PRINCIPLES OF LAW APPLICABLE. Unless displaced by the particular provisions of this chapter, the Uniform Commercial Code, the Uniform Consumer Credit Code, the Idaho Securities Act, the corporation laws of this state and the principles of law and equity, including the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, or other validating or invalidating cause supplement its provisions.  History: [26-2103, added 1977, ch. 213, sec. 2, p. 583.]
ID Code § 26-2104 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2104 - DEFINITION AND USE OF TERMS.

26-2104. DEFINITION AND USE OF TERMS. As used in this chapter unless the context otherwise requires: (a) "Credit union" means a cooperative nonprofit corporation chartered under the provisions of this chapter. (b) "Capital" means the shares of a credit union. (c) "Director" means the director of the department of finance of the state of Idaho. (d) "Federal supervisory agency" means the National Credit Union Administration. (e) "Credit union services" means services such as draft and deposit sorting and posting, computation and posting of interest and other credits and charges, preparation and mailing of drafts, statements, notices, and similar items, or any other clerical, bookkeeping, accounting, statistical, or similar functions performed for a credit union. (f) "Credit union service corporation" means a corporation organized to perform credit union services for two (2) or more credit unions, each of which owns part of the capital stock of such corporations, and which are subject to examination by either the department of finance of the state of Idaho or a federal supervisory agency. (g) "Interstate credit union" means a credit union chartered under the provisions of this chapter or under the authority of the laws of another state and operating both in Idaho and in one (1) or more other states. (h) "Invest" means any advance of funds to a credit union service corporation, whether by the purchase of stock, the making of a loan, or otherwise, except a payment for rent earned, goods sold and delivered, or services rendered prior to the making of such payment. (i) "Surplus funds" means those funds which are not needed to meet a credit union’s members’ loan needs and credit union expenses. (j) "Nonmembers’ certificates of indebtedness" means all funds received from individuals who are not members of the credit union must be called certificates of indebtedness and are to be shown on the books and records of the credit union as a separate and distinct category. The guaranteed rates of interest upon such certificates of indebtedness will be established by the board of directors.  History: [26-2104, added 1977, ch. 213, sec. 2, p. 583; am. 1997, ch. 111, sec. 1, p. 269.]
ID Code § 26-2106 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2106 - AMENDMENT TO ARTICLES OF INCORPORATION AND BYLAWS — APPROVAL OF DIRECTOR — PROCEDURE.

26-2106. AMENDMENT TO ARTICLES OF INCORPORATION AND BYLAWS — APPROVAL OF DIRECTOR — PROCEDURE. (1) A credit union’s articles of incorporation and bylaws may be amended as provided in the articles of incorporation and bylaws with approval of the director. Amendments to the articles of incorporation or bylaws must be submitted to the director for approval before they are submitted to a vote by the members of the board. Amendments are deemed to be approved by the director if the director does not deny them within thirty (30) days following receipt of the proposed amendments. Amendments to a credit union’s articles of incorporation and bylaws must conform with section 26-2105, Idaho Code. (2) Upon approval by the director and the members of the board, as required, the credit union shall promptly deliver amendments to the articles of incorporation, including any necessary filing fees, to the secretary of state for filing. Amendments to the articles of incorporation or bylaws are effective upon written certification of board approval to the director.  History: [26-2106, added 2020, ch. 230, sec. 2, p. 671.]
ID Code § 26-2107 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2107 - RESTRICTIONS.

26-2107. RESTRICTIONS. Any person, corporation, copartnership or association, except a credit union organized under the provisions of this chapter, an interstate credit union with a permit issued under section 26-2152, Idaho Code, the federal credit union act, 48 Statute 1216 (1934), 73 Statute (1959), 12 U.S.C. 192, or the Idaho credit union league, a recognized chapter of the Idaho credit union league, using a name or title containing the words "credit union" or any derivation thereof or representing themselves in their advertising or otherwise conducting business as a credit union shall be fined not more than one thousand dollars ($1,000) or imprisoned not more than one (1) year, or both, and may be permanently enjoined from using such words in its name.  History: [26-2107, added 1977, ch. 213, sec. 2, p. 585; am. 1997, ch. 111, sec. 2, p. 270.]
ID Code § 26-2110 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2110 - MEMBERSHIP.

26-2110. MEMBERSHIP. (a) The membership of a credit union shall be limited to and consist of the subscribers to the articles of incorporation and such other persons having the common bond set forth in the articles of incorporation as have been duly admitted members, have paid the entrance fee, if any, as provided in the bylaws, have subscribed and paid for one (1) or more shares, and have complied with such other requirements as the articles of incorporation or bylaws may specify. (b) Credit union organizations shall be limited to groups having a common bond of occupation or association, or to residents within a well-defined neighborhood, community, or rural district, employees of a common employer, or members of a bona fide fraternal, religious, cooperative, labor, rural, educational, or similar organization and members of the immediate family of such persons. (c) Societies and associations composed entirely of individuals who are within the field of membership of the credit union may be admitted to membership in the same manner and under the same conditions as individuals. (d) An individual who leaves the field of membership may be permitted to retain his membership in the credit union at the discretion of the board and as provided in the bylaws. (e) An employer, including the state and its political subdivisions, may become a member of a credit union, of which its employee is a member, only for the purpose of placing shares or deposits in the credit union pursuant to an employee deferred compensation plan qualified under chapter 400 of the Internal Revenue Code of 1954, as amended, or other retirement plans set out in section 26-2151, Idaho Code. (f) Credit unions may become members of other Idaho credit unions.  History: [26-2110, added 1977, ch. 213, sec. 2, p. 588; am. 1980, ch. 69, sec. 1, p. 144; am. 2021, ch. 321, sec. 2, p. 946.]
ID Code § 26-2111 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2111 - EXPULSION AND/OR WITHDRAWAL FROM FIELD OR MEMBERSHIP.

26-2111. EXPULSION AND/OR WITHDRAWAL FROM FIELD OR MEMBERSHIP. A member of a credit union may be expelled by the board but only after an opportunity has been given him to be heard for the purpose of such expulsion. A written notice of this hearing setting forth the time, place, and date for such meeting shall be forwarded to the member by the board together with the charges which serve as the basis for the expulsion. The member may be expelled for failure to meet the conditions of his membership, failure to carry out his obligations to the credit union, conviction of a felony, neglect or refusal to comply with the provisions of the laws under which this credit union operates and the bylaws of the credit union, and habitual neglect to pay obligations. Upon completion of the hearing, and if the board has voted to expel the member, the member shall remain liable for any sums owed to the credit union for loans or other purposes. The credit union may require twenty (20) days’ written notice to withdraw shares and/or deposits by the member, as funds become available.  History: [26-2111, added 1977, ch. 213, sec. 2, p. 588.]
ID Code § 26-2112 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2112 - FISCAL YEAR.

26-2112. FISCAL YEAR. The fiscal year of all credit unions organized under this chapter shall end on the last day of December.  History: [26-2112, added 1977, ch. 213, sec. 2, p. 589.]
ID Code § 26-2113 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2113 - MEMBER VOTING.

26-2113. MEMBER VOTING. (1) No member may have more than one (1) vote. A natural person may not hold more than one (1) membership in a credit union on behalf of himself or herself. An organization having membership in a credit union may cast one (1) vote through a natural person agent authorized in accordance with any requirements of the credit union. (2) Members may vote, as prescribed in the credit union’s bylaws, by mail ballot, absentee ballot, or other methods, which may include electronic methods. However, no member may vote by proxy. (3) A member who is not at least eighteen (18) years of age is not eligible to vote as a member unless otherwise provided in the credit union’s bylaws.  History: [26-2113, added 2018, ch. 165, sec. 2, p. 329.]
ID Code § 26-2113A (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2113A - ANNUAL MEMBERSHIP MEETINGS.

26-2113A. ANNUAL MEMBERSHIP MEETINGS. (1) A credit union’s annual membership meeting shall be held in one of the communities where it maintains a branch to serve its members at such time as the bylaws prescribe, and shall be conducted according to the rules of procedure approved by the board. (2) Notice of the annual membership meetings of a credit union shall be given as provided in the bylaws of the credit union.  History: [26-2113A, added 2018, ch. 165, sec. 3, p. 329; am. 2019, ch. 188, sec. 1, p. 596.]
ID Code § 26-2114A (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2114A - BOARD MEMBERS — QUALIFICATIONS.

26-2114A. BOARD MEMBERS — QUALIFICATIONS. (1) A member of the board of directors must be a natural person and a member of the credit union. If a member of the board of directors ceases to be a member of the credit union, that person’s service as a member of the board of directors shall terminate effective on termination of membership in the credit union. (2)(a) If a member of the board of directors is absent from more than one-fourth (1/4) of the regular board meetings in any twelve (12) month period without being reasonably excused by the board, the member shall no longer serve on the board of directors. (b) The board shall determine whether a member of the board is excluded from service pursuant to paragraph (a) of this subsection. After such determination has been made, the board secretary shall promptly notify the member of the board that such member shall no longer serve on the board. Failure to provide notice does not affect the termination of the member’s service under paragraph (a) of this subsection. (3) A member of the board of directors must meet any qualification requirements set forth in the credit union’s bylaws. If the board determines that a member fails to meet such requirements, the member shall no longer serve on the board. (4) The operating officers and employees of the credit union may not serve as members of the board of directors of the credit union.  History: [26-2114A, added 2018, ch. 165, sec. 7, p. 332.]
ID Code § 26-2114B (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2114B - OFFICIALS — FIDUCIARY DUTY — RELIANCE ON INFORMATION.

26-2114B. OFFICIALS — FIDUCIARY DUTY — RELIANCE ON INFORMATION. (1) Officials owe a fiduciary duty to the credit union and must discharge the duties of their respective positions: (a) In good faith; (b) With the care an ordinarily prudent person in a like position would exercise under similar circumstances; and (c) In a manner the official reasonably believes to be in the best interests of the credit union. (2) In discharging the duties of an official, the official is entitled to rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by: (a) One (1) or more officers or employees of the credit union whom the official reasonably believes to be reliable and competent in the matters presented;  (b) Legal counsel, public accountants or other persons as to matters the official reasonably believes are within the person’s professional or expert competence; or (c) A committee of the board of directors or supervisory committee of which the official is not a member if the official reasonably believes the committee merits confidence. (3) An official is not acting in good faith if the official has knowledge concerning the matter in question that makes reliance otherwise permitted by subsection (2) of this section unwarranted. (4) An official is not liable for any action taken as a director, or any failure to take any action, if the director performed the duties of the director’s office in compliance with this section.  (5) As used in this section, "official" means a member of the board of directors, board officer, supervisory committee member or senior operating officer of the credit union.  History: [26-2114B, added 2018, ch. 165, sec. 8, p. 332.]
ID Code § 26-2115 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 21 - IDAHO CREDIT UNION ACT|Section 26-2115 - OFFICERS.

26-2115. OFFICERS. (1) Within ten (10) days following the organizational meeting and after each annual membership meeting, the board shall elect from among its members a chair of the board, one (1) or more than one (1) vice-chair and a secretary. The board shall also elect other board officers as provided for in the credit union’s bylaws for transacting the business of the board of the credit union. The terms of the board officers shall be one (1) year or until their successors are qualified and elected, unless sooner removed as provided in this chapter. All board officers must be elected members of the board. (2) The chair and secretary shall execute a certificate of election on a form approved by the department of finance, which certificate shall set forth the names and addresses of the officers, members of the board of directors and committee members elected or appointed. One (1) copy of the certificate of election shall be filed with the department of finance within ten (10) days after such election or appointment. (3) The board may designate as many operating officers as it deems necessary for conducting the business of the credit union including, but not limited to, a president or chief executive officer who shall be in charge of the credit union’s day-to-day operations.  (4) A credit union may use any titles it chooses for the officials holding the positions described in this section as long as such titles are not misleading.  History: [26-2115, added 2018, ch. 165, sec. 10, p. 333.]