reglab/housing_qa huggingface dataset:
ID Code § 26-903 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION|Section 26-903 - MERGER PROCEDURE — RESULTING STATE BANK.

26-903. MERGER PROCEDURE — RESULTING STATE BANK. (1) The board of directors of each merging state bank shall, by a majority of the entire board, approve a merger agreement which shall contain: (a) A statement or recital that the agreement is subject to approval by the director and by the stockholders of each merging bank. (b) The name of each merging bank and location of each office. (c) With respect to the resulting bank: 1. the name and location of the principal and the other offices; 2. the name and residence of each director to serve until the next annual meeting of the stockholders; 3. the name and residence of each officer; 4. the amount of capital, the number of shares and the par value of each share; 5. the amount, terms, and preferences if preferred stock is to be issued; and 6. the amendments to its charter and bylaws. (d) Provisions governing: 1. the manner of converting the shares of the merging banks into shares of the resulting state bank or into shares of a bank holding company; and 2. the manner of disposing of the shares of the resulting state bank or of the bank holding company not taken by the dissenting stockholders of each merging bank. (e) Such other provisions as the director may require to enable him to discharge his duties with respect to the merger. (2) After approval by the board of directors of each merging state bank, the merger agreement shall be submitted to the director for approval, together with certified copies of the authorizing resolutions of each board of directors showing approval by a majority of the entire board of each merging state bank and evidence of proper action by the board of directors of any merging national bank. (3) After receipt by the director of the papers specified in subsection (a), the director shall approve or disapprove the merger agreement. The director shall approve the agreement if it finds that: (a) The resulting state bank meets the requirements as to the formation of a new state bank. (b) The agreement provides an adequate capital structure including surplus in relation to the deposit liabilities of the resulting state bank and its other activities which are to continue or are to be undertaken. (c) The agreement is fair. (d) The merger is not contrary to the public interest. (4) If the director disapproves an agreement, the objections shall be stated in writing and the merging banks shall be given an opportunity to amend the merger agreement to obviate such objections.  History: [26-903, added 1979, ch. 41, sec. 2, p. 97.]
ID Code § 26-904 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION|Section 26-904 - MERGER — APPROVAL BY STOCKHOLDERS OF STATE BANKS.

26-904. MERGER — APPROVAL BY STOCKHOLDERS OF STATE BANKS. (1) To be effective, a merger which is to result in a state bank must be approved by the stockholders of each merging state bank by a vote of two-thirds (2/3) of the outstanding voting stock of each class at a meeting called to consider such action, which vote shall constitute the adoption of the charter and bylaws of the resulting state bank, including the amendments in the merger agreement. (2) Notice of the meeting of stockholders of each state bank shall be given by publication in a newspaper of general circulation in the place where its principal office is located at least once a week for four (4) successive weeks, and by mail at least fifteen (15) days before the date of the meeting, to each stockholder of record of each merging bank at his address on the books of his bank; no notice by publication need be given if written waivers are received from the holders of two-thirds (2/3) of the outstanding shares of each class of stock. The notice shall be accompanied by a copy of section 26-909, Idaho Code, and shall state that the section sets forth the exclusive rights and remedies of dissenting stockholders.  History: [26-904, added 1979, ch. 41, sec. 2, p. 98.]
ID Code § 26-905 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION|Section 26-905 - EFFECTIVE DATE OF MERGER — FILING OF APPROVED AGREEMENT — CERTIFICATE OF MERGER AS EVIDENCE.

26-905. EFFECTIVE DATE OF MERGER — FILING OF APPROVED AGREEMENT — CERTIFICATE OF MERGER AS EVIDENCE. (1) A merger or sale which is to result in a state bank shall, unless a later date is specified in the agreement, become effective upon the filing with the director of the executed agreement together with copies of the resolutions of the stockholders of each merging purchasing and selling bank approving it and a list of the owners of the shares voted against the merger or purchase, certified by the bank’s president or a vice-president and a secretary or cashier. The charters of the merging banks, other than the resulting bank, shall thereupon automatically terminate. (2) The director shall promptly issue to the resulting bank a certificate of merger specifying the name of each merging bank and the name of the resulting state bank. Such certificate shall be conclusive evidence of the merger and of the correctness of all proceedings therefor in all courts and places, and may be recorded in the office of the county recorder of any county wherein property of the merging banks is held, to evidence the new name in which the property of the merging banks is held.  History: [26-905, added 1979, ch. 41, sec. 2, p. 98.]
ID Code § 26-906 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION|Section 26-906 - CONVERSION OF NATIONAL INTO STATE BANK.

26-906. CONVERSION OF NATIONAL INTO STATE BANK. (1) A national bank located in this state which follows the procedure prescribed by the laws of the United States to convert into a state bank, shall be granted a charter by the director unless he finds that the bank does not meet the standards as to location of offices, capital structure, and business experience and character of officers and directors for the incorporation of a state bank. (2) The national bank may apply for such charter by filing with the director a certificate signed by its president and cashier and by a majority of the entire board of directors, setting forth the corporate action taken in compliance with the provisions of the laws of the United States governing the conversion of the national to a state bank, and the articles of incorporation, approved by the stockholders, for the government of the bank as a state bank.  History: [26-906, added 1979, ch. 41, sec. 2, p. 99.]
ID Code § 26-907 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION|Section 26-907 - CONTINUATION OF CORPORATE ENTITY — USE OF OLD NAME.

26-907. CONTINUATION OF CORPORATE ENTITY — USE OF OLD NAME. (1) A resulting state or national bank shall be the same business and corporate entity as each merging bank or as the converting bank with all the property, rights, powers, and duties of each merging bank or the converting bank, except as affected by the law of this state in the case of a resulting state bank or the laws of the United States in the case of a resulting national bank, and by the charter and bylaws of the resulting bank. (2) A resulting bank shall have the right to use the name of any merging bank or of the converting bank whenever it can do any act under such name more conveniently. (3) Any reference to a merging or converting bank in any writing, whether executed or taking effect before or after the merger or conversion, shall be deemed a reference to the resulting bank if not inconsistent with the other provisions of such writing, except when the resulting bank is not authorized to or has not qualified to exercise the powers conferred or required by the writing.  History: [26-907, added 1979, ch. 41, sec. 2, p. 99.]
ID Code § 26-909 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION|Section 26-909 - DISSENTING STOCKHOLDERS.

26-909. DISSENTING STOCKHOLDERS. (1) A dissenting stockholder of a state bank shall be entitled to receive the value in cash of only those shares which were voted against a merger to result in a state bank, against the conversion of a state bank into a national bank or against a sale of all or substantially all of the state bank’s assets, and only if written demand thereupon is made to the resulting state or national bank at any time within thirty (30) days after the effective date of the merger or conversion accompanied by the surrender of the stock certificates. The value of such shares will be determined, as of the date of the stockholders’ meeting approving the merger or conversion, by three (3) appraisers, one (1) to be selected by the vote of the owners of two-thirds (2/3) of the shares involved at a meeting called by the director on ten (10) days’ notice, one (1) by the board of directors of the resulting state or national bank, and the third by the two (2) so chosen. The valuation agreed upon by any two (2) appraisers shall govern. If any necessary appraiser is not appointed within sixty (60) days after the effective date of the merger or conversion, the director shall make the necessary appointment, or if the appraisal is not completed within ninety (90) days after the merger or conversion becomes effective, the director shall cause an appraisal to be made. (2) The merger agreement may fix an amount which the merging banks consider to be the fair market value of the shares of a merging or a converting bank at the time of the stockholders’ meeting approving the merger or conversion, which the resulting bank will pay dissenting stockholders of that bank entitled to payment in cash. The amount due under such accepted offer or under the appraisal shall constitute a debt of the resulting state or national bank. (3) The expenses of appraisal shall be paid by the resulting state bank except when the value fixed by the appraiser does not exceed the value fixed by the merger agreement in which case one-half (1/2) of the expenses shall be paid by the resulting bank and one-half (1/2) by the dissenting stockholders requesting the appraisal in proportion to their respective holdings.  History: [26-909, added 1979, ch. 41, sec. 2, p. 101.]
ID Code § 26-910 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION|Section 26-910 - NONCONFORMING ASSETS OF BUSINESS.

26-910. NONCONFORMING ASSETS OF BUSINESS. If a merging, converting or selling bank has assets which do not conform to the requirements of state law for the resulting or purchasing state bank or carries on business activities which are not authorized or permitted for the resulting or purchasing state bank, the director may permit a reasonable time to conform with the law of this state, and, in the case of a resulting or purchasing state bank that is not to exercise trust powers, shall require that prompt application be made to a court of competent jurisdiction for the appointment of successor trustees.  History: [26-910, added 1979, ch. 41, sec. 2, p. 101.]
ID Code § 26-911 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 9 - CONSOLIDATION, SALE AND REORGANIZATION|Section 26-911 - BOOK VALUE OF ASSETS.

26-911. BOOK VALUE OF ASSETS. Without approval by the director no asset shall be carried on the books of the resulting or purchasing bank at a valuation higher than that on the books of the merging or converting bank at the time of its last examination by a state or national bank examiner before the effective date of the merger or conversion.  History: [26-911, added 1979, ch. 41, sec. 2, p. 102.]
ID Code § 26-1001 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 10 - CLOSING AND LIQUIDATION OF BANKS|Section 26-1001 - GROUNDS FOR CLOSING BANK.

26-1001. GROUNDS FOR CLOSING BANK. Whenever it shall appear to the department of finance that: (1) Any bank has violated its charter or any law of this state; or (2) Has violated any general rule or regulation of the director, made in accordance with law, or any special lawful order, direction or requirement of the director, directed to any particular bank; or (3) That the capital of any bank is impaired or for any reason is below the amount required by law and has not been made good after fifteen (15) days’ notice, as provided by law, or without such notice, in the event a majority of the board of directors of such bank notify the director in writing that the same cannot be made good within fifteen (15) days; or (4) That such bank cannot meet or has failed to meet any of its liabilities as they become due in the regular course of business; or (5) That its reserve has fallen below the amount required by law and it has failed to make good such reserve within fifteen (15) days after being requested to do so by the director, or, without such notice, if a majority of the directors, in writing, notify the director that such reserve cannot be made good within fifteen (15) days, or if it is continually allowing its reserve to fall below the required amount; or (6) That it is conducting business in an unsafe and unauthorized manner, or is in an unsafe or unsound condition; or (7) It has refused to submit its papers, books and records to the inspection of the director or his authorized agent or representative; or (8) That any director or officer of such bank has refused to be examined on oath touching the affairs or business of any bank insofar as such relate to the solvency of the bank or matters having to do with the supervision of the director. The director himself, or his duly authorized agent upon express authority from the director, may in his discretion, close said bank and take possession of all the books, records, assets and business of every description of such bank, and hold the same and retain possession thereof until such bank shall be authorized by him to resume business,or its operations or liquidation be turned over to the Federal Deposit Insurance Corporation as provided in this chapter, or its affairs be liquidated as herein provided, and he shall do so in cases where a bank comes into his hands voluntarily. The powers and authority conferred on the director by this section, except in cases of voluntary surrender, shall be considered as discretionary and not as mandatory, and so long as the director acts in good faith in the matter, neither he nor his deputies shall be held liable civilly or criminally or upon their official bonds in any action taken thereunder or for any failure to act thereunder.  History: [26-1001, added 1979, ch. 41, sec. 2, p. 102.]
ID Code § 26-1002 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 10 - CLOSING AND LIQUIDATION OF BANKS|Section 26-1002 - PENALTY FOR CLOSING BANK WITH CRIMINAL INTENT.

26-1002. PENALTY FOR CLOSING BANK WITH CRIMINAL INTENT. If the director of the department of finance or official in the department of finance, shall, as a result of malice or for personal gain, declare any bank insolvent, he shall, upon conviction thereof be subject to punishment by fine not exceeding one thousand dollars ($1,000), or imprisonment in the county jail not exceeding one (1) year, or both, within the discretion of the court.  History: [26-1002, added 1979, ch. 41, sec. 2, p. 103.]
ID Code § 26-1003 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 10 - CLOSING AND LIQUIDATION OF BANKS|Section 26-1003 - RECEIVING DEPOSITS WHEN INSOLVENT.

26-1003. RECEIVING DEPOSITS WHEN INSOLVENT. The owners or officers of any bank or trust company who shall receive any deposits, knowing that such bank or trust company is insolvent, shall be guilty of a felony and punished, upon conviction thereof, by a fine not exceeding one thousand dollars ($1,000), or imprisonment in the state penitentiary not exceeding two (2) years, or both such fine and imprisonment, at the discretion of the court.  History: [26-1003, added 1979, ch. 41, sec. 2, p. 103.]
ID Code § 26-1004 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 10 - CLOSING AND LIQUIDATION OF BANKS|Section 26-1004 - BANK MAY BE PLACED IN DIRECTOR’S POSSESSION.

26-1004. BANK MAY BE PLACED IN DIRECTOR’S POSSESSION. Any bank may place its affairs and assets under the control and in the possession of the director after oral or written notice to the director by posting a notice on the front door of such bank, indicating that said bank is in his hands, which notice shall be signed, in their own handwriting, by a majority of the directors.  History: [26-1004, added 1979, ch. 41, sec. 2, p. 103.]
ID Code § 26-1005 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 10 - CLOSING AND LIQUIDATION OF BANKS|Section 26-1005 - EFFECT OF POSTING NOTICE.

26-1005. EFFECT OF POSTING NOTICE. The posting of such notice by the directors of any bank, or of a like notice signed by the director, shall be sufficient to place all assets and property of such bank, of whatever nature and wherever situate, in possession of the director, and shall operate as a bar to any attachment or any other legal proceedings against such bank or its assets, and no valid lien or claim can be acquired or created, or transfer or assignment made in any manner, binding or affecting any of the assets of such bank after the posting of such notice or after taking possession of any bank by the director.  History: [26-1005, added 1979, ch. 41, sec. 2, p. 103.]
ID Code § 26-1006 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 10 - CLOSING AND LIQUIDATION OF BANKS|Section 26-1006 - TAKING POSSESSION OF BANK — NOTICE.

26-1006. TAKING POSSESSION OF BANK — NOTICE. On taking possession of the assets and business of the bank, the director shall, in addition to posting notice thereof, on the front door of such bank, as aforesaid, also notify personally or by telephone or mail or by public announcement through the news media, all correspondent banks, and any and all persons or corporations known to him to be holding or in possession of, any of the estate of such bank.  History: [26-1006, added 1979, ch. 41, sec. 2, p. 103.]
ID Code § 26-1007 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 10 - CLOSING AND LIQUIDATION OF BANKS|Section 26-1007 - RESUMPTION AFTER CLOSING.

26-1007. RESUMPTION AFTER CLOSING. After the director has taken possession of any bank, he may permit such bank to resume business upon such conditions as may be approved by him.  History: [26-1007, added 1979, ch. 41, sec. 2, p. 104.]
ID Code § 26-1008 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 10 - CLOSING AND LIQUIDATION OF BANKS|Section 26-1008 - POWERS OF DIRECTOR ON CLOSING BANK.

26-1008. POWERS OF DIRECTOR ON CLOSING BANK. Upon taking the assets and business of any bank into his possession, the director is authorized to collect all moneys due to such bank, assess the stock of such bank, and to do such other acts as are necessary to conserve its assets and business, and he shall proceed to liquidate the affairs thereof. He shall have general and inclusive power and authority, except as otherwise limited by the terms of this act, to do any and all acts, to take any and all steps necessary, or, in his discretion, desirable for the protection of the property and assets of such bank and the speedy and economical liquidation of the assets and affairs of such bank and the payment of its creditors, or for the reopening and resumption of business by said bank, where that is in his discretion practicable or desirable.  The director may institute, in his own name as director, or in the name of the bank, such suits and actions and other legal proceedings as he deems expedient for such purposes, and by making application to the district court of the county in which such bank is located, or to the judge thereof, in chambers, may procure an order to sell, compromise or compound any bad or doubtful debt or claim, and to sell and dispose of any or all the assets, which sale may be made to stockholders, officers, directors, or others interested in such bank, on consent of the court. Any such application or petition by the director may be had at any time, either in term or vacation in court, or in chambers, as the court may order.  History: [26-1008, added 1979, ch. 41, sec. 2, p. 104; am. 1987, ch. 76, sec. 1, p. 147.]
ID Code § 26-1009 (2021)
2021 Idaho Code|Title 26 - BANKS AND BANKING|Chapter 10 - CLOSING AND LIQUIDATION OF BANKS|Section 26-1009 - RECOURSE OF AGGRIEVED BANK.

26-1009. RECOURSE OF AGGRIEVED BANK. Any bank deeming itself aggrieved by the action of the director in taking possession of its assets or closing its doors may, within ten (10) days after such possession shall have been taken, apply to the district court of the county in which its principal place of business is located, or to the judge thereof in chambers, to enjoin further proceedings by the director, and the court or the judge thereof in chambers, after notifying the director to appear at a specified time and place to show cause why further proceedings should not be enjoined, and after hearing the allegations and proofs of the parties, and determining facts, may, on the merits, dismiss such application, or enjoin the director from further proceeding and direct him to surrender the business and assets of said bank. Such application for injunction may be heard at any time after five (5) days’ notice from the time of service on said director in the discretion of the court, or the judge thereof, or at any time prior thereto by the consent of the director. Application therefor shall be made on the verified complaint of the bank, in the ordinary form used in civil actions in district court, and a copy of such complaint shall be served on the director with the order to show cause. The director shall, at least two (2) days before the time set for hearing, file in the cause, and serve upon counsel for plaintiff an answer to the complaint, also in the ordinary form used in civil actions in the district court. Demurrers and motions directed to pleadings are not permissible in proceedings had under this section, but any questions raised by demurrer or motion in other actions may be raised in the answer. On the issues thus made on the complaint and answer, the court, or the judge thereof at chambers, at the time fixed for showing cause, or at such other time to which he, in his discretion, may continue the same, shall try the matter on the merits by hearing the allegations and proofs of the parties in the same manner as on the trial of ordinary civil actions in the district court, and the rules governing the trial of ordinary civil actions and for the production and taking of evidence and hearing the examinations of witnesses and the entry of findings and judgments therein, shall prevail. In the event the director makes no appearance in the time limited, the court shall enter his default and proceed to hear the proofs of the plaintiff in like manner as in civil actions under similar circumstances, and enter judgment accordingly. The judgment entered either after hearing on the merits or by default, shall be final judgment from which either party shall have the right, by notice filed within twenty (20) days after entry, to appeal to the supreme court, in the same manner as from final judgment in a civil action.  History: [26-1009, added 1979, ch. 41, sec. 2, p. 104.]