Idaho § 26-804 BORROWING MONEY — ACCOUNTING

Idaho Statutes

§ 26-804 — BORROWING MONEY — ACCOUNTING

Idaho § 26-804

Title 26BANKS AND BANKING

Ch. 8LIMITATIONS ON BORROWING MONEY AND PLEDGING ASSETS

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Bluebook

Idaho Code § 26-804 (2026).

Text

No officer or employee of any bank shall issue the note of such corporation for money borrowed or rediscount any of its paper, or pledge or hypothecate any of its assets, except when authorized by resolution of its board of directors, or by an authorized committee thereof.
All borrowings shall be carried on the books of the bank, and in all reports of such bank under liabilities.
All rediscounted paper containing the endorsement of or guarantee of the bank discounting the same, except when endorsed without recourse, shall be carried on the books of the bank and in all reports of such bank under liabilities as "rediscounts," until the same are actually paid by the makers, other than by renewal, or the rediscounting bank itself takes up the paper.

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No officer or employee of any bank shall issue the note of such corporation for money borrowed or rediscount any of its paper, or pledge or hypothecate any of its assets, except when authorized by resolution of its board of directors, or by an authorized committee thereof.
All borrowings shall be carried on the books of the bank, and in all reports of such bank under liabilities.
All rediscounted paper containing the endorsement of or guarantee of the bank discounting the same, except when endorsed without recourse, shall be carried on the books of the bank and in all reports of such bank under liabilities as "rediscounts," until the same are actually paid by the makers, other than by renewal, or the rediscounting bank itself takes up the paper.