Idaho § 42-2213 ACCUMULATED SURPLUS FUNDS — INVESTMENT

Idaho Statutes

§ 42-2213 — ACCUMULATED SURPLUS FUNDS — INVESTMENT

Idaho § 42-2213

Title 42IRRIGATION AND DRAINAGE — WATER RIGHTS AND RECLAMATION

Ch. 22OPERATING COMPANIES — LIEN FOR MAINTENANCE CHARGES

This text of Idaho § 42-2213 (ACCUMULATED SURPLUS FUNDS — INVESTMENT) 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 § 42-2213 (2026).

Text

When any corporation organized for the operation, control or management of an irrigation project or canal system, or for the purpose of furnishing water to its shareholders and not for profit or hire, shall have accumulated, out of assessment funds or otherwise, reasonable reserves for emergency, contingent or non-recurring expenses and charges, the funds held in such reserves may be invested by the board of directors of such company under the standards specified in the Prudent Man Investment Act as set forth in chapter 5, title 68, Idaho Code.

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When any corporation organized for the operation, control or management of an irrigation project or canal system, or for the purpose of furnishing water to its shareholders and not for profit or hire, shall have accumulated, out of assessment funds or otherwise, reasonable reserves for emergency, contingent or non-recurring expenses and charges, the funds held in such reserves may be invested by the board of directors of such company under the standards specified in the Prudent Man Investment Act as set forth in chapter 5, title 68, Idaho Code.