US Laws, Codes, Statutes & Cases

                                  TITLE  26
                              BANKS AND BANKING
                                  CHAPTER 32
                   TRUST INSTITUTIONS -- GENERAL PROVISIONS
    26-3205.  ACTIVITIES NOT REQUIRING A CHARTER. Notwithstanding any other
provision of this act, a person does not engage in the trust business or in
any other business in a manner requiring a charter under this act, or in an
unauthorized trust activity by:
    (1)  Acting in a manner authorized by law and in the scope of authority as
an agent of a trust institution with respect to an activity which is not an
unauthorized trust activity;
    (2)  Obtaining trust business as a result of an existing attorney-client
relationship or certified public accountant-client relationship;
    (3)  Acting as trustee under a deed of trust delivered only as security
for the payment of money or for the performance of another act;
    (4)  Receiving and distributing rents and proceeds of sale as a licensed
real estate broker on behalf of a principal in a manner authorized by the
Idaho real estate commission;
    (5)  Engaging in a securities transaction or providing an investment
advisory service as a licensed and registered broker-dealer, investment
advisor or registered representative thereof, provided the activity is
regulated by the Idaho department of finance or the securities and exchange
commission;
    (6)  Engaging in the sale and administration of an insurance product by an
insurance company or agent licensed by the Idaho department of insurance to
the extent that the activity is regulated by the Idaho department of
insurance;
    (7)  Engaging in the lawful sale of prepaid funeral contracts under a
permit issued by the Idaho board of morticians or engaging in the lawful
business of a perpetual care cemetery under the Idaho endowment care cemetery
act;
    (8)  Acting as trustee under a voting trust as provided by the Idaho
business corporation act;
    (9)  Acting as trustee by a public, private, or independent institution of
higher education or a university system, including its affiliated foundations
or corporations, with respect to endowment funds or other funds owned,
controlled, provided to or otherwise made available to such institution with
respect to its educational or research purposes;
    (10) Engaging in other activities expressly excluded from the application
of this act, by rule of the director;
    (11) Acting as a fiduciary for relatives;
    (12) Provided the company is a trust institution and is not barred by
order of the director from engaging in a trust business in this state pursuant
to section 26-3603(2), Idaho Code:
    (a)  Marketing or soliciting in this state through the mails, telephone,
    any electronic means or in person with respect to acting or proposing to
    act as a fiduciary outside of this state;
    (b)  Delivering money or other intangible assets and receiving the same
    from a client or other person in this state; or
    (c)  Accepting or executing outside of this state a trust of any client or
    otherwise acting as a fiduciary outside of this state for any client;
    (13) Acting pursuant to court appointment as:
    (a)  A personal representative of a decedent's estate; or
    (b)  A guardian or conservator of an estate.