Idaho § 26-910 NONCONFORMING ASSETS OF BUSINESS

Idaho Statutes

§ 26-910 — NONCONFORMING ASSETS OF BUSINESS

Idaho § 26-910

Title 26BANKS AND BANKING

Ch. 9CONSOLIDATION, SALE AND REORGANIZATION

This text of Idaho § 26-910 (NONCONFORMING ASSETS OF BUSINESS) 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 § 26-910 (2026).

Text

If a merging, converting or selling bank has assets which do not conform to the requirements of state law for the resulting or purchasing state bank or carries on business activities which are not authorized or permitted for the resulting or purchasing state bank, the director may permit a reasonable time to conform with the law of this state, and, in the case of a resulting or purchasing state bank that is not to exercise trust powers, shall require that prompt application be made to a court of competent jurisdiction for the appointment of successor trustees.

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If a merging, converting or selling bank has assets which do not conform to the requirements of state law for the resulting or purchasing state bank or carries on business activities which are not authorized or permitted for the resulting or purchasing state bank, the director may permit a reasonable time to conform with the law of this state, and, in the case of a resulting or purchasing state bank that is not to exercise trust powers, shall require that prompt application be made to a court of competent jurisdiction for the appointment of successor trustees.