Idaho § 26-1711 FINANCIAL CERTIFICATION — RESTRICTIONS ON INVESTMENTS, LOANS AND ACCEPTANCES

Idaho Statutes

§ 26-1711 — FINANCIAL CERTIFICATION — RESTRICTIONS ON INVESTMENTS, LOANS AND ACCEPTANCES

Idaho § 26-1711

Title 26BANKS AND BANKING

Ch. 17IDAHO INTERNATIONAL BANKING ACT

This text of Idaho § 26-1711 (FINANCIAL CERTIFICATION — RESTRICTIONS ON INVESTMENTS, LOANS AND ACCEPTANCES) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 26-1711 (2026).

Text

(1)Before opening an office in this state, and annually thereafter so long as a bank office is maintained in this state, an international banking corporation licensed under this act shall certify to the director the amount of its paid-in capital, its surplus, and its undivided profits, each expressed in the currency of the country of its incorporation. The dollar equivalent of this amount, as determined by the director, is considered to be the amount of its capital, surplus, and undivided profits.

(2)Purchases and discounts of bills of exchange, bonds, debentures, and other obligations and extensions of credit and acceptances by an international bank agency within this state are subject to the same limitations as to amount in relation to capital, surplus, and undivided profits as are app

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(1) Before opening an office in this state, and annually thereafter so long as a bank office is maintained in this state, an international banking corporation licensed under this act shall certify to the director the amount of its paid-in capital, its surplus, and its undivided profits, each expressed in the currency of the country of its incorporation. The dollar equivalent of this amount, as determined by the director, is considered to be the amount of its capital, surplus, and undivided profits.
(2) Purchases and discounts of bills of exchange, bonds, debentures, and other obligations and extensions of credit and acceptances by an international bank agency within this state are subject to the same limitations as to amount in relation to capital, surplus, and undivided profits as are applicable to banks organized under the laws of this state. With the prior approval of the director, the capital notes and capital debentures of the international banking corporation may be treated as capital in computing the limitations.