§ 26-3303 — STATE TRUST COMPANY PRINCIPAL OFFICE

Idaho § 26-3303

• Jurisdiction: Idaho
• Title 26: BANKS AND BANKING
• Ch. 33: TRUST INSTITUTIONS — STATE TRUST INSTITUTION OFFICES

Text

(1) Each state trust company must have and continuously maintain a principal office in this state.
(2) Each executive officer at the principal office is an agent of the state trust company for service of process.
(3) A state trust company may change its principal office to any location within this state by filing a written notice with the director setting forth the name of the state trust company, the street address of its principal office before the change, the street address to which the principal office is to be changed, and a copy of the resolution adopted by the board authorizing the change.
(4) The change of principal office shall take effect on the thirty-first day after the date the director receives the notice pursuant to subsection (3) of this section, unless the director establishes an earlier or later date or unless prior to such day the director notifies the state trust company that it must establish to the satisfaction of the director that the relocation is consistent with the provisions of this act for the establishment of a state trust company at that location, in which event the change of principal office shall take effect when approved by the director.

Legislative History

[26-3303, added 2000, ch. 288, sec. 9, p. 981.]