Idaho § 28-46-301 AUTHORITY TO MAKE REGULATED CONSUMER LOANS — EXEMPTION FROM LICENSING

Idaho Statutes

§ 28-46-301 — AUTHORITY TO MAKE REGULATED CONSUMER LOANS — EXEMPTION FROM LICENSING

Idaho § 28-46-301

Title 28COMMERCIAL TRANSACTIONS

Part 3.REGULATED LENDERS — LICENSING AND RELATED PROVISIONS

Ch. 46ADMINISTRATION

This text of Idaho § 28-46-301 (AUTHORITY TO MAKE REGULATED CONSUMER LOANS — EXEMPTION FROM LICENSING) 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 § 28-46-301 (2026).

Text

(1)The administrator shall receive and act on all applications for licenses to make regulated consumer loans under this act. Applications shall be filed in the manner prescribed by the administrator and shall contain such information as the administrator may reasonably require. Unless a person is exempt under federal law or under this section or has first obtained a license from the administrator authorizing him to make regulated consumer loans, he shall not engage in the business of:

(a)Making regulated consumer loans; or

(b)Taking assignments of and undertaking direct collection of payments from or enforcement of rights against debtors arising from regulated consumer loans.

(2)Any "supervised financial organization," as defined in section 28-41-301, Idaho Code, or any person organize

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(1) The administrator shall receive and act on all applications for licenses to make regulated consumer loans under this act. Applications shall be filed in the manner prescribed by the administrator and shall contain such information as the administrator may reasonably require. Unless a person is exempt under federal law or under this section or has first obtained a license from the administrator authorizing him to make regulated consumer loans, he shall not engage in the business of:
(a) Making regulated consumer loans; or
(b) Taking assignments of and undertaking direct collection of payments from or enforcement of rights against debtors arising from regulated consumer loans.
(2) Any "supervised financial organization," as defined in section 28-41-301, Idaho Code, or any person organized, chartered, or holding an authorization certificate under the laws of another state to engage in making loans and receiving deposits, including a savings, share, certificate, or deposit account and who is subject to supervision by an official or agency of the other state, shall be exempt from the licensing requirements of this section.
(3) Mortgage lenders licensed under the Idaho residential mortgage practices act, chapter 31, title 26, Idaho Code, shall be exempt from the licensing requirements of this section as to mortgage lending activities defined in chapter 31, title 26, Idaho Code.
(4) Agencies of the United States and agencies of this state and its political subdivisions shall be exempt from the licensing requirements of this section.

Legislative History

[28-46-301, added 1983, ch. 119, sec. 3, p. 307; am. 1995, ch. 99, sec. 27, p. 324; am. 2006, ch. 122, sec. 7, p. 350; am. 2008, ch. 312, sec. 1, p. 861; am. 2013, ch. 54, sec. 3, p. 114.]