Idaho § 26-802 ISSUANCE OF CONVERTIBLE OR NONCONVERTIBLE CAPITAL DEBENTURES AND NOTES

Idaho Statutes

§ 26-802 — ISSUANCE OF CONVERTIBLE OR NONCONVERTIBLE CAPITAL DEBENTURES AND NOTES

Idaho § 26-802

Title 26BANKS AND BANKING

Ch. 8LIMITATIONS ON BORROWING MONEY AND PLEDGING ASSETS

This text of Idaho § 26-802 (ISSUANCE OF CONVERTIBLE OR NONCONVERTIBLE CAPITAL DEBENTURES AND NOTES) 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 § 26-802 (2026).

Text

The issuance of convertible or nonconvertible capital debentures and notes by banks in accordance with normal business considerations is permissible.
With the consent of the director, every bank is, however, authorized to issue and sell its capital notes or debentures, for all capital purposes, in an amount not to exceed one hundred percent (100%) of its unimpaired, paid-in capital stock, plus fifty percent (50%) of its unimpaired surplus fund. A bank may, with the approval of stockholders owning two-thirds (2/3) of the stock of the bank, entitled to vote, or without such approval if authorized by its articles of incorporation, issue convertible or nonconvertible capital debentures and notes in such amounts and under such terms and conditions as shall be approved by the director.

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The issuance of convertible or nonconvertible capital debentures and notes by banks in accordance with normal business considerations is permissible.
With the consent of the director, every bank is, however, authorized to issue and sell its capital notes or debentures, for all capital purposes, in an amount not to exceed one hundred percent (100%) of its unimpaired, paid-in capital stock, plus fifty percent (50%) of its unimpaired surplus fund. A bank may, with the approval of stockholders owning two-thirds (2/3) of the stock of the bank, entitled to vote, or without such approval if authorized by its articles of incorporation, issue convertible or nonconvertible capital debentures and notes in such amounts and under such terms and conditions as shall be approved by the director.