2012 Idaho Statutes
Title 53 - PARTNERSHIP
Chapter 5 - ASSUMED BUSINESS NAMES
Section 53-503 - DEFINITIONS.
(1) "Assumed business name" shall mean:
(2) "Formally organized or registered entity" shall mean a legal entity which is created in, authorized to do business in, or given special powers or privileges by the state of Idaho or the federal government by virtue of filing its organizational document, application for authority to do business or registration statement with the secretary of state, the department of finance, the department of insurance, or an agency of the federal government, pursuant to law. Formally organized or registered entities include corporations, limited liability companies, limited partnerships, limited liability partnerships, foreign insurance companies, credit unions, national banks and other entities created pursuant to federal law.
(3) "Foreign," as applied to a formally organized or registered entity, shall mean organized under the laws of a jurisdiction other than Idaho or the federal government.
(4) "Individual" shall mean a natural person.
(5) "Person" shall mean an individual, a trust or estate, a partnership, or a formally organized or registered entity.
(6) "Transact business" shall mean to engage in any commercial or other activity which is intended to or likely to produce a financial benefit, whether it is for the purpose of profit to the person who engages in the activity or for the purpose of supporting a charitable, benevolent or other nonprofit function.
(7) "True name" shall have the following meanings:
History:
[53-503 added 1996, ch. 218, sec. 2, p. 719; am. 1997, ch. 133, sec. 1, p. 400; am. 2005, ch. 272, sec. 4, p. 839.]
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