§ 26-2143 — HEAD OFFICE AND BRANCH OFFICES

Idaho § 26-2143

• Jurisdiction: Idaho
• Title 26: BANKS AND BANKING
• Ch. 21: IDAHO CREDIT UNION ACT

Text

(1) A credit union may relocate its head office and the location of its books and records upon written notice to the director.
(2) A credit union may, under such rules as the director may adopt, establish branch offices at locations other than its head office. A credit union shall notify the director in writing at least thirty (30) days before opening a branch office location to conduct business.
(3) Prior to opening a branch office location, a credit union must obtain written approval from the director if:
(a) The credit union is subject to an order issued by the director pursuant to this chapter;
(b) The credit union’s current CAMELS rating or its current management or capital CAMELS component ratings, as issued by the director, is a "3," "4," or "5"; or
(c) The location of a proposed branch office is outside of the credit union’s current field of membership if its membership is based on a well-defined neighborhood, community, or rural district.

Legislative History

[26-2143, added 2022, ch. 78, sec. 12, p. 225.]