reglab/statecodes huggingface dataset:
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 23 - REPURCHASE OF FARM MACHINERY AND EQUIPMENT UPON TERMINATION OF CONTRACT › Section 28-23-112 - JURISDICTION — VENUE.

28-23-112. JURISDICTION — VENUE. (1) The courts of this state shall have jurisdiction over any legal dispute between a wholesaler, manufacturer or distributor of farm implements or equipment, machinery, repair parts, stock parts and attachments located in or outside this state and an equipment dealer located in this state. The laws of the state of Idaho shall exclusively apply to such disputes.
(2) Venue for a dispute as provided in subsection (1) of this section shall be in the judicial district wherein the dealer’s principal place of business is located.
History:
[28-23-112, added 2011, ch. 270, sec. 10, p. 734.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 23 - REPURCHASE OF FARM MACHINERY AND EQUIPMENT UPON TERMINATION OF CONTRACT › Section 28-23-113 - DEFINITIONS.

28-23-113. DEFINITIONS. The definitions set forth in section 28-24-102, Idaho Code, shall apply to the provisions of this chapter.
History:
[28-23-113, added 2011, ch. 270, sec. 11, p. 734.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 24 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Part 1 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Section 28-24-101 - LEGISLATIVE FINDINGS AND INTENT.

28-24-101. LEGISLATIVE FINDINGS AND INTENT. The legislature of this state finds that the retail distribution and sale of agricultural equipment, outdoor power equipment, industrial equipment and construction equipment utilizing independent retail businesses operating under agreements with the manufacturers and distributors thereof, vitally affects the general economy of the state, public interests and public welfare and that it is necessary to regulate the business relations between independent dealers and the equipment manufacturers, wholesalers and distributors.
History:
[28-24-101, added 1990, ch. 267, sec. 1, p. 750; am. 2011, ch. 270, sec. 13, p. 734.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 24 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Part 1 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Section 28-24-104A - ESTABLISHMENT OF NEW DEALERSHIP — SUPPLIER’S DUTIES.

28-24-104A. ESTABLISHMENT OF NEW DEALERSHIP — SUPPLIER’S DUTIES. When a supplier enters into an agreement to establish a new dealer or dealership or to relocate a current dealer or dealership for a particular product line or make of equipment, the supplier must give written notice of such an agreement by certified mail to all existing dealers or dealerships whose assigned area of responsibility is contiguous to the new dealer or dealership location. If no area of responsibility has been assigned then the supplier must give written notice of such an agreement by certified mail to the dealers or dealerships within a seventy-five (75) mile radius of the new dealer location. The supplier must provide in its written notice the following information about the proposed new or relocated dealer or dealership:
(1) The proposed location;
(2) The proposed date for commencement of operation at the new location; and
(3) The identities of all existing dealers or dealerships whose assigned area of responsibility is contiguous to the new dealer or dealership location. If no area of responsibility has been assigned then the supplier must give written notice of such an agreement by certified mail to the dealers or dealerships located within a seventy-five (75) mile radius of the new dealer location.
History:
[28-24-104A, added 2005, ch. 238, sec. 9, p. 739.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 24 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Part 1 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Section 28-24-104C - AUDIT OF WARRANTY CLAIMS.

28-24-104C. AUDIT OF WARRANTY CLAIMS. A supplier may not audit a dealer’s records with respect to any warranty claim submitted more than two (2) years before the date of the audit.
History:
[28-24-104C, added 2005, ch. 238, sec. 9, p. 740.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 24 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Part 1 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Section 28-24-104D - ARBITRATION.

28-24-104D. ARBITRATION. Any party to a retailer agreement aggrieved by the conduct of the other party to the agreement under sections 28-23-101 through 28-23-111, Idaho Code, or under part 1, chapter 24, title 28, Idaho Code, may seek arbitration of the issues under sections 7-901 through 7-922, Idaho Code. Unless the parties agree to different arbitration rules, the arbitration shall be conducted in Idaho pursuant to the commercial arbitration rules of the American arbitration association. When the parties agree, the arbitration shall be the parties’ only remedy and the findings and conclusions of the arbitrator or panel of arbitrators shall be binding upon both parties.
(1) The arbitrator or arbitrators may award the prevailing party:
(a) The costs of witness fees and other fees in the case;
(b) Reasonable attorney’s fees; and
(c) Injunctive relief against unlawful termination, cancellation, nonrenewal or change in competitive circumstances.
(2) Any retailer has a civil cause of action in district court in this state against a supplier for damages sustained by the retailer as a consequence of the supplier’s violation of part 1, chapter 24, title 28, Idaho Code, or sections 28-23-101 through 28-23-111, Idaho Code, together with:
(a) The actual costs of the action;
(b) Reasonable attorney’s fees; and
(c) Injunctive relief against unlawful termination, cancellation, nonrenewal or change in competitive circumstances.
(3) No dealer shall be required to waive his rights to judicial recourse by contractual agreements through penalty of loss of trade discounts or changes in the competitive circumstances of the dealer by the supplier deemed to be punitive in nature or effect. The remedies set forth in this section are not exclusive and are in addition to any other remedies permitted by law, unless the parties have mutually agreed to binding arbitration under this section.
History:
[28-24-104D, added 2005, ch. 238, sec. 9, p. 740.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 24 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Part 1 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Section 28-24-104E - SUCCESSORS IN INTEREST.

28-24-104E. SUCCESSORS IN INTEREST. The obligations of any supplier under this chapter are applied to any successor in interest or assignee of the supplier. A successor in interest includes any purchaser of assets or stock, any surviving corporation resulting from merger or liquidation, and any receiver or any trustee of the original supplier.
History:
[28-24-104E, added 2005, ch. 238, sec. 9, p. 741.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 24 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Part 1 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Section 28-24-105 - REMEDIES AND ENFORCEMENT.

28-24-105. REMEDIES AND ENFORCEMENT. Monetary damages may be recovered for losses sustained as a consequence of any violation of the provisions of this chapter. Such recovery may also include a requirement that the supplier repurchase at fair market value any data processing hardware, software and specialized repair tools and equipment previously purchased from the supplier or approved vendor of the supplier pursuant to requirements of the supplier. Additionally, any judgment rendered by a court of competent jurisdiction for the plaintiff in a suit filed pursuant to this section may include damages in the amount of two (2) times the compensatory damages found due and owing. Injunctive relief may also be granted against any actual or threatened violation of the provisions of this chapter. In any action brought under this chapter the prevailing party shall be entitled to recover reasonable attorney’s fees and costs. The remedies set forth in this section shall not be deemed exclusive and shall be in addition to any other remedies permitted by law. A person, firm or corporation which brings an action under this section must commence the action in the county in which the principal place of business of the retailer is located.
History:
[28-24-105, added 1990, ch. 267, sec. 1, p. 754; am. 2005, ch. 238, sec. 10, p. 741; am. 2011, ch. 270, sec. 16, p. 737.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 24 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Part 1 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Section 28-24-106 - SEVERABILITY.

28-24-106. SEVERABILITY. The provisions of this act are hereby declared to be severable and if any provision of this act or the application of such provision to any person or circumstance is declared invalid for any reason, such declaration shall not affect the validity of remaining portions of this act.
History:
[28-24-106, added 1990, ch. 267, sec. 1, p. 755.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 24 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Part 1 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Section 28-24-107 - EFFECTIVE DATE — APPLICATION TO AGREEMENTS.

28-24-107. EFFECTIVE DATE — APPLICATION TO AGREEMENTS. This act shall take effect on July 1, 1990, and shall apply to any dealer agreement then in effect which has no expiration date and which is a continuing agreement and all other dealer agreements entered into or renewed on or after such effective date.
History:
[28-24-107, added 1990, ch. 267, sec. 1, p. 755.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 24 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Part 1 - AGREEMENTS BETWEEN SUPPLIERS AND DEALERS OF FARM EQUIPMENT › Section 28-24-108 - JURISDICTION — VENUE.

28-24-108. JURISDICTION — VENUE. (1) The courts of this state shall have jurisdiction over any legal dispute between a wholesaler, manufacturer or distributor of farm implements or equipment, machinery, repair parts, stock parts and attachments located in or outside this state and an equipment dealer located in this state. The laws of the state of Idaho shall exclusively apply to such disputes.
(2) Venue for a dispute as provided in subsection (1) of this section shall be in the judicial district wherein the dealer’s principal place of business is located.
History:
[28-24-108, added 2011, ch. 270, sec. 17, p. 737.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-101 - SHORT TITLE AND PURPOSE.

28-36-101. SHORT TITLE AND PURPOSE. This act shall be known and may be cited as the "Idaho Lease-Purchase Agreement Act." The purpose of this act is to protect both consumers and businesses engaged in the lease-purchase of consumer goods against unfair or deceptive acts and practices, to provide certainty and regularity in the conduct of these transactions, and to provide efficient and economical procedures to secure such protection.
History:
[28-36-101, added 1993, ch. 232, sec. 1, p. 807.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-102 - DEFINITIONS.

28-36-102. DEFINITIONS. As used in this chapter:
(1) "Advertisement" means a commercial message in any medium that promotes, directly or indirectly, a lease-purchase agreement.
(2) "Consumer" means a natural person who rents personal property under a lease-purchase agreement to be used by the consumer primarily for personal, family or household purposes.
(3) "Consummation" means the time a consumer enters a lease-purchase agreement.
(4) "Lessor" means a person who regularly provides the use of property through lease-purchase agreements and to whom lease payments are initially payable on the face of the lease-purchase agreement.
(5) "Lease-purchase agreement" means an agreement by a lessor and a consumer for the use of personal property by a consumer primarily for personal, family or household purposes, for an initial period of four (4) months or less that is automatically renewable with each payment after the initial period, but does not obligate or require the consumer to continue leasing or using the property beyond the initial period, and that permits the consumer to become the owner of the property.
(6) "Renewal date" means the date specified in the lease-purchase agreement upon which the consumer must either return the personal property to the lessor or renew the lease-purchase agreement.
History:
[28-36-102, added 1993, ch. 232, sec. 1, p. 807.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-103 - INAPPLICABILITY OF OTHER LAWS — EXEMPTED TRANSACTIONS.

28-36-103. INAPPLICABILITY OF OTHER LAWS — EXEMPTED TRANSACTIONS. (1) Lease-purchase agreements are not governed by the laws relating to:
(a) A home solicitation sale as defined in section 28-43-401, et seq., Idaho Code;
(b) A regulated consumer credit transaction pursuant to section 28-41-101, et seq., Idaho Code; or
(c) A security interest as defined in section 28-1-201, Idaho Code.
(2) This chapter does not apply to the following:
(a) Leases of personal property primarily for business, commercial or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations;
(b) A lease of a safe deposit box;
(c) A lease or bailment of personal property which is incidental to the lease of real property, and which provides that the consumer has no option to purchase the leased property; or
(d) A lease of an automobile.
History:
[28-36-103, added 1993, ch. 232, sec. 1, p. 808.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-104 - GENERAL REQUIREMENTS OF DISCLOSURE.

28-36-104. GENERAL REQUIREMENTS OF DISCLOSURE. (1) The lessor shall disclose, or cause to be disclosed, to the consumer the information required in this chapter. In a transaction involving more than one (1) lessor, only one (1) lessor need make the disclosures, but all lessors shall be bound by such disclosures.
(2) The disclosures shall be made at or before consummation of the lease-purchase agreement.
(3) The disclosures shall be made clearly and conspicuously in writing and a copy of the lease-purchase agreement provided to the consumer. The disclosures required under section 28-36-105(1), Idaho Code, shall be made on the face of the contract above the line for the consumer’s signature.
(4) If a disclosure becomes inaccurate as the result of any act, occurrence or agreement by the consumer after delivery of the required disclosures, the resulting inaccuracy is not a violation of the provisions of this chapter.
History:
[28-36-104, added 1993, ch. 232, sec. 1, p. 808.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-105 - DISCLOSURES.

28-36-105. DISCLOSURES. (1) For each lease-purchase agreement, the lessor shall disclose in the agreement the following items, as applicable:
(a) The total number, total dollar amount and frequency of all payments necessary to acquire ownership of the property;
(b) A statement that the consumer will not own the property until the consumer has made the total payments necessary to acquire ownership;
(c) A statement that the consumer is responsible to the lessor for the fair market value of the property if, and as of the time, it is lost, stolen, damaged or destroyed;
(d) A brief description of the leased property, sufficient to identify the property to the consumer and the lessor, including an identification number, if applicable, and a statement indicating whether the property is new or used, but a statement that indicates new property is used is not a violation of the provisions of this chapter;
(e) The total amount initially payable or required at or before consummation of the agreement or delivery of the property, whichever is later;
(f) A statement that the total of payments necessary to acquire ownership does not include other charges, such as late payment, default, pickup and reinstatement fees, which fees shall be separately disclosed in the agreement;
(g) A statement clearly summarizing the terms of the consumer’s option to purchase, if any, including a statement regarding whether the consumer has the right to exercise an early purchase option and the price, formula or method for determining the price at which the property may be so purchased;
(h) A statement identifying the party responsible for maintaining or servicing the property while it is being leased, together with a description of that responsibility, and a statement that if any part of a manufacturer’s express warranty covers the lease property at the time the consumer acquires ownership of the property, the warranty shall be transferred to the consumer, if allowed by the terms of the warranty;
(i) The consummation date of the agreement and the identities of the lessor and consumer;
(j) A statement that the consumer may terminate the agreement without penalty by voluntarily surrendering or returning the property in good repair upon the renewal date together with any past due rental payments; and
(k) Notice of the right to reinstate an agreement as herein provided.
History:
[28-36-105, added 1993, ch. 232, sec. 1, p. 808.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-106 - PROHIBITED PRACTICES.

28-36-106. PROHIBITED PRACTICES. A lease-purchase agreement may not contain:
(1) A confession of judgment;
(2) A negotiable instrument;
(3) A claim of a property interest in any goods except those goods delivered by the lessor pursuant to the lease-purchase agreement;
(4) A wage assignment;
(5) A waiver by the consumer of claims or defenses; or
(6) A provision authorizing the lessor or a person acting on the lessor’s behalf to enter upon the consumer’s premises without consent, or to commit any breach of the peace in the repossession of goods.
History:
[28-36-106, added 1993, ch. 232, sec. 1, p. 809.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-107 - REINSTATEMENT.

28-36-107. REINSTATEMENT. (1) A consumer who fails to make a timely rental payment and who fails to voluntarily return or surrender the leased property on or before the renewal date, may reinstate the agreement without losing any rights or options which exist under the agreement, by the payment, within five (5) days after the renewal date, if the consumer pays monthly, or within two (2) days after the renewal date, if the consumer pays more frequently than monthly, of:
(a) All past due rental charges;
(b) If the property has been picked up, the pickup and delivery fees; and
(c) Any applicable reinstatement fee and default fee as set forth in the lease-purchase agreement.
(2) A consumer who voluntarily returned or surrendered the property on or before the renewal date, other than through judicial process, and is current in all payments due under the lease agreement on the renewal date, may reinstate the agreement without losing any rights or options which exist under the agreement:
(a) During a period of not less than twenty-one (21) days after the date of the return of the property if at the time of surrender or voluntary return of the property the consumer had paid less than two-thirds (2/3) of the total of payments necessary to acquire ownership; or
(b) During a period of not less than forty-five (45) days after the date of the return of the property if at the time of surrender or voluntary return of the property the consumer had paid two-thirds (2/3) or more of the total of payments necessary to acquire ownership.
(3) Nothing in this section shall prevent a lessor from attempting to repossess property during the reinstatement period.
(4) Upon reinstatement, the lessor shall provide the consumer with the same property or substitute property of comparable quality and condition.
History:
[28-36-107, added 1993, ch. 232, sec. 1, p. 810.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-108 - RECEIPTS AND ACCOUNTS.

28-36-108. RECEIPTS AND ACCOUNTS. The lessor shall provide the consumer a written receipt for each payment made by cash or money order.
History:
[28-36-108, added 1993, ch. 232, sec. 1, p. 810.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-109 - RENEGOTIATIONS.

28-36-109. RENEGOTIATIONS. A renegotiation shall occur when an existing lease-purchase agreement is replaced by a new agreement entered into by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, the following events shall not be treated as renegotiations and shall not require new disclosures:
(1) The additions or return of property in a multiple-item agreement or the substitution of the lease property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent (25%);
(2) A deferral or extension of one (1) or more periodic payments, or portions of a periodic payment;
(3) A reduction in charges in the lease or agreement; or
(4) A lease or agreement modified in a court proceeding.
History:
[28-36-109, added 1993, ch. 232, sec. 1, p. 810.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-110 - ADVERTISING.

28-36-110. ADVERTISING. (1) If an advertisement for a lease-purchase agreement refers to or states the dollar amount of the rental payment and the right to acquire ownership for any one (1) specific item, then in respect to that item the advertisement shall also clearly and conspicuously state the following items, as applicable:
(a) That the transaction advertised is a lease-purchase agreement;
(b) The total of payments necessary to acquire ownership; and
(c) That the consumer acquires no ownership rights if the total amount necessary to acquire ownership is not paid.
(2) No owner or personnel of any medium in which an advertisement appears or through which it is disseminated shall be liable under this section.
(3) The provisions of subsection (1) of this section shall not apply to an advertisement which does not refer to or state the dollar amount of any payment, or which is published in a telephone directory, or in any similar business directory.
History:
[28-36-110, added 1993, ch. 232, sec. 1, p. 810.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 36 - IDAHO LEASE-PURCHASE AGREEMENT ACT › Part 1 - POWERS AND FUNCTIONS OF ADMINISTRATORS › Section 28-36-111 - ENFORCEMENT.

28-36-111. ENFORCEMENT. (1) A lessor whose violation of the provisions of this chapter causes damages to a consumer shall be subject to a judgment by a court of competent jurisdiction for actual damages, if the lessor can show by preponderance of the evidence that the damage was caused by a good faith dispute between the parties; or for actual damages or one thousand dollars ($1,000), whichever is greater, in the event the violation is not a result of a good faith dispute between the parties.
(2) As a condition precedent to bringing any action for the collection of a penalty pursuant to this section, the consumer must give the lessor written notice of the violation or violations alleged twenty (20) days prior to filing such action.
(3) No action under the provisions of this section may be brought in any court of competent jurisdiction more than one (1) year after the date of the consumer’s last payment under the lease-purchase agreement or more than one (1) year after the date of the occurrence of the violation that is the subject of the suit, whichever is later.
History:
[28-36-111, added 1993, ch. 232, sec. 1, p. 811.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 1 - SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS › Section 28-41-101 - SHORT TITLE.

28-41-101. SHORT TITLE. This act shall be known and may be cited as the "Idaho Credit Code."
History:
[28-41-101, added 1983, ch. 119, sec. 3, p. 265.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 1 - SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS › Section 28-41-102 - PURPOSES — RULES OF CONSTRUCTION.

28-41-102. PURPOSES — RULES OF CONSTRUCTION. (1) This act shall be liberally construed and applied to promote its underlying purposes and policies.
(2) The underlying purposes and policies of this act are:
(a) To simplify, clarify and modernize the law governing installment sales, credit, loans and usury;
(b) To further understanding of the terms of credit transactions and to foster competition among suppliers of credit so that debtors may obtain credit at reasonable cost;
(c) To protect debtors against unfair practices by some suppliers of credit, having due regard for the interests of legitimate and scrupulous creditors;
(d) To permit and encourage the development of fair and economically sound credit practices; and
(e) To conform the regulation of those credit transactions to the policies of the Federal Consumer Credit Protection Act, where applicable.
(3) A reference to a requirement imposed by this act includes reference to a related rule of the administrator adopted pursuant to this act.
History:
[28-41-102, added 1983, ch. 119, sec. 3, p. 265.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 1 - SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS › Section 28-41-103 - SUPPLEMENTARY GENERAL PRINCIPLES OF LAW APPLICABLE.

28-41-103. SUPPLEMENTARY GENERAL PRINCIPLES OF LAW APPLICABLE. Unless displaced by the particular provisions of this act, the Uniform Commercial Code 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 the provisions of this act.
History:
[28-41-103, added 1983, ch. 119, sec. 3, p. 265.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 1 - SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS › Section 28-41-104 - CONSTRUCTION AGAINST IMPLICIT REPEAL.

28-41-104. CONSTRUCTION AGAINST IMPLICIT REPEAL. This act being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided.
History:
[28-41-104, added 1983, ch. 119, sec. 3, p. 265.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 1 - SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS › Section 28-41-105 - SEVERABILITY.

28-41-105. SEVERABILITY. If any provision of this act or the application thereof to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this act which can be given effect without the invalid provision or application, and to this end the provisions of this act are severable.
History:
[28-41-105, added 1983, ch. 119, sec. 3, p. 265.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 1 - SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS › Section 28-41-106 - WAIVER — AGREEMENT TO FORGO RIGHTS — SETTLEMENT OF CLAIMS.

28-41-106. WAIVER — AGREEMENT TO FORGO RIGHTS — SETTLEMENT OF CLAIMS. (1) Except as otherwise provided in this act, a debtor may not waive or agree to forgo rights or benefits under this act.
(2) A claim by a debtor against a creditor for an excess charge, other violation of this act, or civil penalty, or a claim against a debtor for default or breach of a duty imposed by this act, if disputed in good faith, may be settled by agreement.
(3) A claim, whether or not disputed, against a debtor may be settled for less value than the amount claimed.
(4) A settlement in which the debtor waives or agrees to forgo rights or benefits under this act is invalid if the court, as a matter of law, finds the settlement to have been unconscionable at the time it was made. The competence of the debtor, any deception or coercion practiced upon him, the nature and extent of the legal advice received by him, and the value of the consideration are relevant to the issue of unconscionability.
(5) Title 41, Idaho Code, shall not apply to an agreement by a creditor or lessor, with or without consideration, to forgive or waive all or any part of a debt or lease obligation following a partial or total loss of the property that is the subject of a loan, credit sale or lease transaction and the forgiveness shall not be considered the transaction of insurance for the purposes of the Idaho credit code.
History:
[28-41-106, added 1983, ch. 119, sec. 3, p. 265; am. 2000, ch. 175, sec. 1, p. 443; am. 2015, ch. 244, sec. 15, p. 1016.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 1 - SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS › Section 28-41-107 - EFFECT OF ACT ON POWERS OF ORGANIZATIONS.

28-41-107. EFFECT OF ACT ON POWERS OF ORGANIZATIONS. (1) This act prescribes maximum charges for all creditors, except those excluded under section 28-41-202, Idaho Code, extending credit as a regular business, including regulated credit sales, as defined in section 28-41-301, Idaho Code, and regulated loans, as defined in section 28-41-301, Idaho Code, and displaces existing limitations on the powers of those creditors based on maximum charges, except in insurance matters as prescribed by rule of the department of insurance.
(2) With respect to sellers of goods or services, small loan companies, licensed lenders, finance companies, sales finance companies, industrial banks and loan companies, and commercial banks, this act displaces existing limitations on their powers based solely on amount or duration of credit, except the insurance matters as prescribed by rule of the department of insurance.
(3) Except as provided in subsection (1) of this section, this act does not displace limitations on powers of credit unions, savings banks, savings and loan associations, or other thrift institutions whether organized for the profit of shareholders or as mutual organizations.
(4) Except as provided in subsections (1) and (2) of this section, this act does not displace:
(a) Limitations on powers of supervised financial organizations, as defined in section 28-41-301, Idaho Code, with respect to the amount of a loan to a single borrower, the ratio of the loan to the value of collateral, the duration of a loan secured by an interest in land, or other similar restrictions designed to protect deposits; or
(b) Limitations on powers an organization is authorized to exercise under the laws of this state or the United States.
(5) Notwithstanding the provisions of chapter 1, title 57, Idaho Code, and chapter 27, title 67, Idaho Code, any supervised financial organization which intentionally fails to comply with the provisions of this act shall not be entitled to receive deposits from state or public depositing units.
History:
[28-41-107, added 1983, ch. 119, sec. 3, p. 266; am. 2013, ch. 54, sec. 9, p. 119.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 1 - SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS › Section 28-41-108 - TRANSACTIONS SUBJECT TO ACT BY AGREEMENT.

28-41-108. TRANSACTIONS SUBJECT TO ACT BY AGREEMENT. Parties to a credit transaction or modification thereof that is not a regulated consumer credit transaction, as defined in section 28-41-301, Idaho Code, may agree in a writing signed by them that the transaction is subject to the provisions of this act applying to regulated consumer credit transactions. If the parties so agree, the transaction is a regulated consumer credit transaction for the purposes of this act.
History:
[28-41-108, added 1983, ch. 119, sec. 3, p. 266; am. 2013, ch. 54, sec. 10, p. 120.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 2 - SCOPE AND JURISDICTION › Section 28-41-202 - EXCLUSIONS.

28-41-202. EXCLUSIONS. This act does not apply to:
(1) Extensions of credit to government or governmental agencies or instrumentalities;
(2) The sale of insurance by an insurer, except as otherwise provided in the chapter on insurance, chapter 44, title 28, Idaho Code;
(3) Transactions under public utility or common carrier tariffs if a subdivision or agency of this state or of the United States regulates the charges for the service involved, the charges for delayed payment, and any discount allowed for early payment; or
(4) The rates and charges and the disclosure of rates and charges of a licensed pawnbroker established in accordance with a statute or ordinance concerning these matters.
History:
[28-41-202, added 1983, ch. 119, sec. 3, p. 268.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 2 - SCOPE AND JURISDICTION › Section 28-41-203 - JURISDICTION.

28-41-203. JURISDICTION. The courts of this state may exercise jurisdiction over any creditor with respect to any conduct of the creditor subject to this act or with respect to any claim arising from a transaction subject to this act.
History:
[28-41-203, added 1983, ch. 119, sec. 3, p. 268.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 2 - SCOPE AND JURISDICTION › Section 28-41-204 - APPLICABILITY.

28-41-204. APPLICABILITY. This act shall apply only to credit transactions for a consumer purpose, except for the following parts, chapters and sections, which shall apply to credit transactions for any and all purposes:
(1) Part 1, chapter 41, title 28, Idaho Code;
(2) Section 28-41-202, Idaho Code;
(3) Section 28-41-203, Idaho Code;
(4) Section 28-41-204, Idaho Code;
(5) Part 3, chapter 41, title 28, Idaho Code;
(6) Part 2, chapter 42, title 28, Idaho Code;
(7) Section 28-42-308, Idaho Code;
(8) Part 4, chapter 42, title 28, Idaho Code;
(9) Section 28-45-109, Idaho Code; and
(10) Chapter 49, title 28, Idaho Code.
No provisions of this act other than those specified in subsections (1) through (10) of this section shall limit, expand or otherwise affect the powers, rights, duties or obligations of creditors or debtors in credit transactions for a business purpose.
History:
[28-41-204, added 1983, ch. 119, sec. 3, p. 268; am. 1994, ch. 185, sec. 5, p. 606.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 41 - GENERAL PROVISIONS AND DEFINITIONS › Part 3 - DEFINITIONS › Section 28-41-302 - FEDERAL CONSUMER CREDIT PROTECTION ACT — DEFINED.

28-41-302. FEDERAL CONSUMER CREDIT PROTECTION ACT — DEFINED. In this act "Federal Consumer Credit Protection Act" means the consumer credit protection act, Public Law 90-321; 82 Stat. 146, as amended, to and including January 1, 2005, or a subsequent date if so defined by administrative rule, and includes regulations issued pursuant to that act, as amended to and including January 1, 2005, or a subsequent date if so defined by administrative rule.
History:
[28-41-302, added 1983, ch. 119, sec. 3, p. 275; am. 2002, ch. 301, sec. 2, p. 860; am. 2003, ch. 74, sec. 1, p. 246; am. 2004, ch. 98, sec. 1, p. 355; am. 2005, ch. 263, sec. 1, p. 808.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 1 - GENERAL PROVISIONS › Section 28-42-101 - SHORT TITLE.

28-42-101. SHORT TITLE. This chapter shall be known and may be cited as the Idaho Credit Code — Finance Charges and Related Provisions.
History:
[28-42-101, added 1983, ch. 119, sec. 3, p. 275.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 2 - MAXIMUM FINANCE CHARGES › Section 28-42-201 - MAXIMUM FINANCE CHARGE.

28-42-201. MAXIMUM FINANCE CHARGE. (1) With respect to a loan or credit sale, the rate of finance charge shall be that which is agreed upon between the parties to the transaction. In addition to the finance charge permitted herein, a creditor may contract for and receive any other charge, except to the extent expressly prohibited or limited by this act.
(2) This section does not limit or restrict the manner of calculating the finance charge, whether by way of add-on, discount, single annual percentage rate, or otherwise. If the credit transaction is precomputed:
(a) The finance charge may be calculated on the assumption that all scheduled payments will be made when due; and
(b) The effect of prepayment is governed by the provisions on rebate upon prepayment, section 28-42-307, Idaho Code.
(3) Except as provided in subsection (4) of this section, the term of a credit transaction for purposes of this section commences on the day the credit transaction is made. The administrator may adopt rules with respect to treating as regular minor irregularities in amount or time.
(4) With respect to an insurance premium loan, the term of the loan commences on the earliest inception date of a policy or contract of insurance, payment of the premium on which is financed by the loan.
History:
[28-42-201, added 1983, ch. 119, sec. 3, p. 275; am. 1991, ch. 278, sec. 1, p. 720; am. 1993, ch. 227, sec. 1, p. 798.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 3 - OTHER CHANGES AND MODIFICATIONS › Section 28-42-302 - DEFERRAL CHARGES.

28-42-302. DEFERRAL CHARGES. (1) With respect to a precomputed regulated consumer credit transaction, refinancing, or consolidation, the parties before or after default may agree in writing to a deferral of all or part of one or more unpaid installments, and the creditor may make and collect a charge not exceeding the rate previously stated to the debtor applied to the amount or amounts deferred for the period of deferral calculated without regard to differences in the lengths of months, but proportionally for a part of a month, counting each day as 1/30th of a month. A deferral charge may be collected at the time it is assessed or at any time thereafter.
(2) The parties may agree in writing at the time of a precomputed regulated consumer credit transaction, refinancing, or consolidation that if an installment is not paid within ten (10) days after its due date, the creditor may unilaterally grant a deferral and make charges as provided in this section. No deferral charge may be made for a period after the date that the creditor elects to accelerate the maturity of the agreement.
(3) A delinquency charge made by the creditor on an installment may not be retained if a deferral charge is made pursuant to this section with respect to the period of delinquency.
History:
[28-42-302, added 1983, ch. 119, sec. 3, p. 277.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 3 - OTHER CHANGES AND MODIFICATIONS › Section 28-42-303 - FINANCE CHARGE ON REFINANCING.

28-42-303. FINANCE CHARGE ON REFINANCING. With respect to a regulated consumer credit transaction, the creditor may, by agreement with the debtor, refinance the unpaid balance and may contract for and receive a finance charge based on the amount financed resulting from the refinancing. The amount financed resulting from the refinancing comprises, if the transaction was not precomputed, the total of the unpaid balance and accrued charges on the date of refinancing, or, if the transaction was precomputed, the amount which the borrower or buyer would have been required to pay upon prepayment pursuant to the provisions on rebate upon prepayment, section 28-42-307, Idaho Code, on the date of refinancing, except that for the purpose of computing this amount, no minimum charge shall be allowed.
History:
[28-42-303, added 1983, ch. 119, sec. 3, p. 277.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 3 - OTHER CHANGES AND MODIFICATIONS › Section 28-42-304 - FINANCE CHARGE ON CONSOLIDATION.

28-42-304. FINANCE CHARGE ON CONSOLIDATION. If a debtor owes an unpaid balance to a creditor with respect to a regulated consumer loan or regulated consumer credit sale, or a refinancing or consolidation thereof, and becomes obligated on another regulated consumer loan or regulated consumer credit sale, or a refinancing or consolidation thereof, with the same lender or seller, the parties may agree to a consolidation resulting in a single schedule of payments pursuant to either of the following subsections:
(1) The parties may agree to refinance the unpaid balance with respect to the previous loan or sale pursuant to the provisions on refinancing, section 28-42-303, Idaho Code, and to consolidate the amount financed resulting from the refinancing by adding it to the amount financed with respect to the subsequent loan or sale. The lender or seller may contract for and receive a finance charge based on the aggregate amount financed resulting from the consolidation.
(2) The parties may agree to consolidate the unpaid balance of a regulated consumer loan or regulated consumer credit sale with the unpaid balance of another regulated consumer loan or regulated consumer credit sale. The parties may agree in writing to refinance the previous unpaid balance pursuant to the provisions on refinancing, section 28-42-303, Idaho Code, and to consolidate the amount financed resulting from the refinancing or the principal resulting from the refinancing by adding to it the amount financed or the principal with respect to the subsequent loan or sale; the aggregate amount resulting from the consolidation shall be deemed principal and the creditor may contract for and receive a finance charge based upon the principal.
History:
[28-42-304, added 1983, ch. 119, sec. 3, p. 277.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 3 - OTHER CHANGES AND MODIFICATIONS › Section 28-42-305 - CONVERSION TO OPEN-END CREDIT.

28-42-305. CONVERSION TO OPEN-END CREDIT. The parties may agree at or within ten (10) days before the time of conversion to add the unpaid balance of a regulated consumer credit transaction not made pursuant to open-end credit to the debtor’s open-end credit account with the creditor. The unpaid balance so added is an amount equal to the amount financed, determined according to the provision on finance charge on refinancing, section 28-42-303, Idaho Code.
History:
[28-42-305, added 1983, ch. 119, sec. 3, p. 278.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 3 - OTHER CHANGES AND MODIFICATIONS › Section 28-42-306 - RIGHT TO PREPAY.

28-42-306. RIGHT TO PREPAY. (1) Subject to the provisions on rebate upon prepayment, section 28-42-307, Idaho Code, and subject to the provisions of subsection (2) of this section, the debtor may prepay in full the unpaid balance of a regulated consumer credit transaction at any time without penalty.
(2) With respect to a regulated consumer credit transaction which is primarily secured by a mortgage or deed of trust on real property, the parties may agree upon a prepayment charge to be paid by the debtor to the creditor if the debt is repaid in full and prior to its due date, during the first three (3) years of the contract, which prepayment charge shall not exceed the following:
(a) For closed-end loans, the prepayment charge may not exceed an amount equal to six (6) months interest calculated on the average balance for the prior six (6) months at the rate of interest designated in the contract. If the prepayment occurs prior to the expiration of six (6) months from the date of the contract, the prepayment charge may be calculated in the same manner, except the number of months shall be the number of months the loan has existed;
(b) For open-end loans, the amount of the prepayment charge shall not exceed an amount equal to six (6) months finance charge at the annual percentage rate in effect at the time of prepayment, calculated on the average of the average daily balances on the account for the last six (6) billing periods prior to prepayment. If the account has been open for less than six (6) billing periods, the prepayment charge shall be calculated in the same manner, except the number of billing periods shall be the number of billing periods the account has been open.
(3) No prepayment charge may be charged or collected if the loan is refinanced or consolidated with the same lender.
(4) Disclosure of any prepayment charge authorized by this section shall be made by the creditor to the debtor in such manner and form as may be approved by the director.
History:
[28-42-306, added 1983, ch. 119, sec. 3, p. 278; am. 1996, ch. 244, sec. 1, p. 775.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 3 - OTHER CHANGES AND MODIFICATIONS › Section 28-42-308 - DISHONORED CHECK FEES.

28-42-308. DISHONORED CHECK FEES. With respect to a regulated credit transaction, a dishonored check fee in the amount allowed as a set collection fee under section 28-22-105, Idaho Code, may be charged and collected by a creditor, for the return by a depository institution of a dishonored check, negotiable order of withdrawal, or share draft, offered by a debtor in full or partial repayment of a regulated credit transaction, and, provided that the fee is contracted for between the parties.
History:
[28-42-308, added 1994, ch. 185, sec. 4, p. 606; am. 1997, ch. 73, sec. 1, p. 154.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 4 - MONEY OF ACCOUNT AND INTEREST › Section 28-42-401 - MONEY OF ACCOUNT DEFINED.

28-42-401. MONEY OF ACCOUNT DEFINED. The money of account in this state is the dollar, cent and mill, and all public accounts and the proceedings of all courts in relation to money must be kept and expressed in money of the above denomination.
History:
[28-42-401, added 1983, ch. 119, sec. 3, p. 281.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 4 - MONEY OF ACCOUNT AND INTEREST › Section 28-42-402 - MONEY OF OTHER DENOMINATIONS.

28-42-402. MONEY OF OTHER DENOMINATIONS. The above provisions do not in any manner affect any demand expressed in money of another denomination, but such demand in any suit or proceeding affecting the same must be reduced to the above denominations.
History:
[28-42-402, added 1983, ch. 119, sec. 3, p. 281.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 4 - MONEY OF ACCOUNT AND INTEREST › Section 28-42-403 - COMPUTATION OF JUDGMENTS.

28-42-403. COMPUTATION OF JUDGMENTS. In all judgments rendered by any court for any debt, damages or costs, and in all executions issued thereon, the amount must be computed, as near as may be, in dollars and cents, rejecting small fractions; and no judgment or other proceeding is erroneous for such omission.
History:
[28-42-403, added 1983, ch. 119, sec. 3, p. 281.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 42 - FINANCE CHARGES AND RELATED PROVISIONS › Part 4 - MONEY OF ACCOUNT AND INTEREST › Section 28-42-404 - COMPOUND INTEREST.

28-42-404. COMPOUND INTEREST. Parties may agree in writing for the payment of compound interest.
History:
[28-42-404, added 1983, ch. 119, sec. 3, p. 281.]