2005 Idaho Code - 26-106 — DEFINITIONS

                                  TITLE  26
                              BANKS AND BANKING
                                  CHAPTER 1
                            TITLE AND SCOPE OF ACT
    26-106.  DEFINITIONS. As used in this act, unless the context or subject
matter otherwise requires:
    (1)  "Bank" means any person engaged in soliciting, receiving or accepting
money or its equivalent on deposit as a regular business whether or not such
deposit, however evidenced, is made subject to check or draft or other order.
    (2)  "Banking business" means the soliciting, receiving or accepting of
money or its equivalent on deposit as a regular business whether such deposit
is made subject to check or draft or is evidenced by a certificate of deposit,
a passbook, a note, a receipt, or other writing; provided, that nothing herein
shall apply to or include money or its equivalent left in escrow or left with
an agent pending investment in real estate or securities for or on account of
his principal.
    (3)  "Banking facility" means a place of business of a bank which performs
activities limited to:
    (a)  Taking applications for loans, accepting deposits, issuing receipts
    therefor, and transmitting such deposits to the bank maintaining such
    facility;
    (b)  Carrying and disbursing cash change, cashing checks, accepting
    checks;
    (c)  Issuing checks drawn on or certified by the bank operating the
    facility, renting safety deposit boxes, keeping necessary accounts of all
    transactions; and carrying out such other transactions as the director may
    allow by regulation.
    (4)  "Bank service corporation" means a corporation organized to perform
bank services for two (2) or more banks, each of which owns part of the
capital stock of such corporation, and which are subject to examination by
either the department of finance of the state of Idaho or a federal bank
supervisory agency.
    For the purpose of this definition "bank services" means services such as
check and deposit sorting and posting, computation and posting of interest and
other credits and charges, preparation and mailing of checks, statements,
notices, and similar items, or any other clerical, bookkeeping, accounting,
statistical, or similar functions performed for a bank.
    (5)  "Borrowing" means any nondeposit liability.
    (6)  "Branch" means any location except a bank facility or customer-bank
communication terminal or bank service corporation at which a bank performs
any or all functions of a bank.
    (7)  "Capital" means the amount of unimpaired paid-up common stock plus
the amount of paid-up preferred stock issued and unimpaired.
    (8)  "Capital note" means a convertible or nonconvertible note of a bank
subordinated as to principal and interest to the depositors of the bank and
containing such conditions as the director may require.
    (9)  "Capital structure" means the total of the capital, surplus,
undivided profits and subordinated capital notes and contingency reserves of
the bank or such other account as determined by the director of the department
of finance, less intangible assets.
    (10) "Common stock" means the stock of a banking corporation other than
preferred stock.
    (11) "Commercial paper" means a short term negotiable instrument arising
out of a commercial transaction; provided, however, that commercial paper
shall not be construed to be a deposit as defined in this act.
    (12) "Converting bank" means a bank converting from a state to a national
bank, or the reverse.
    (13) "Demand deposit" means all deposits except time deposits.
    (14) "Deposit" means the act of placing or lodging money in the custody of
a person, for safety or convenience whether interest-bearing or not, to be
withdrawn at the will of the depositor or under rules, terms and regulations
agreed upon by the depositor and the depository. If the context requires,
deposit may also mean the money so deposited or the credit the depositor
receives for it.
    (15) "Depositor" means any person who deposits money.
    (16) "Director" means the director of the department of finance.
    (17) "Dissenting stockholder" means a stockholder dissenting and voting
his dissent as provided in this act.
    (18) "Executive officer" means each officer of a bank, who by virtue of
his position, has both voice in the formulation of the policy of the bank and
responsibility for the implementation of such policy.
    (19) "Federal funds" means member bank deposits at federal reserve banks.
    (20) "Federal reserve act" means and includes the act of congress of the
United States approved December 23, 1913, as amended.
    (21) "Federal reserve bank" means a federal reserve bank created and
organized under the authority of the Federal Reserve Act.
    (22) "Federal reserve board" means the board of governors of the Federal
Reserve System created and described in the Federal Reserve Act.
    (23) "Federal bank supervisory agency" means the comptroller of the
currency, the board of governors of the Federal Reserve System, or the board
of directors of the Federal Deposit Insurance Corporation.
    (24) "Fiduciary" means trustee, agent, executor, administrator, personal
representative, committee, guardian or conservator for a minor or other
incompetent person, receiver, trustee in bankruptcy, assignee for creditors or
any holder of a similar position of trust.
    (25) "Member bank" means any national bank or state bank which has become
or which becomes a member of one (1) of the federal reserve banks created by
the Federal Reserve Act.
    (26) "Merger" means the union of two (2) or more bank corporations by the
transfer of property of all to one (1) of them. As used in this act "merger"
includes a consolidation.
    (27) "Merging bank" means a party to a merger.
    (28) "Mobile facility" means a banking facility which is moved from place
to place and not permanently attached to real property.
    (29) "National bank" means a bank organized under the laws of the United
States and issued an organization certificate by the comptroller of the
currency.
    (30) "Net demand deposits" means the total of the bank's demand deposits
after subtracting from the deposit balance due to any bank the deposit balance
due from the same bank (other than trust funds deposited by either bank) and
any cash items in the process of collection due from or due to such banks
shall be included in determining such net balance, except that balances of
time deposits of any bank and any balances standing to the credit of private
banks, of banks in foreign countries, of foreign branches of other American
banks, and of American branches of foreign banks shall be reported gross
without any such subtraction, and excluding any deposits received in any
office of the bank for deposits in any other office of the bank. The amount of
trust funds held in the bank's own trust department, which the bank keeps
segregated and apart from its general assets and does not use in the conduct
of its business, shall not be included as net deposits.
    (31) "Net profits" means profits remaining after the deduction of all
expenses including depreciation, losses, or doubtful assets, as required by
the director of the department of finance, interest, and taxes accrued or due.
    (32) "Person" means an individual, sole proprietorship, partnership, joint
venture, association, trust, estate, business trust, corporation, limited
liability company, not-for-profit corporation, sovereign government or agency,
instrumentality, or political subdivision thereof, or any similar entity or
organization.
    (33) "Preferred stock" means a class of the stock of a banking corporation
issued in accordance with section 26-206, Idaho Code, which is accorded a
preference or priority over the common stock of the corporation.
    (34) "Resulting bank" means the bank resulting from a merger or
conversion.
    (35) "Savings deposit" means a deposit:
    (a)  That consists of funds deposited to the credit of or in which the
    entire beneficial interest is held by one (1) or more individuals, or a
    corporation, association, or other organization operated primarily for
    religious, philanthropic, charitable, educational, fraternal, or other
    similar purposes and not operated for profit; or that consists of funds
    deposited to the credit of or in which the entire beneficial interest is
    held by the United States, any state of the United States, or any county,
    municipality, or political subdivision thereof, the District of Columbia,
    the Commonwealth of Puerto Rico, the Virgin Islands, American Samoa, Guam,
    or political subdivision thereof; or that consists of funds deposited to
    the credit of, or in which any beneficial interest is held by a
    corporation, association, or other organization not qualifying above to
    the extent such funds do not exceed one hundred fifty thousand dollars
    ($150,000) per such depositor at a bank; and
    (b)  With respect to which the depositor is not required by the deposit
    contract but may at any time be required by the bank to give notice in
    writing of an intended withdrawal not less than thirty (30) days before
    such withdrawal is made and which is not payable on a specified date or at
    the expiration of a specified time after the date of deposit.
    (36) "State bank" means any bank chartered by the state of Idaho.
    (37) "Temporary banking facility" means a banking facility which is
operated for less than thirty (30) days and is established for the purpose of
providing bank facility services for a specific occasion.
    (38) "Time certificate of deposit" means a deposit evidenced by a
negotiable or nonnegotiable instrument which provides on its face that the
amount of such deposit is payable to bearer or to any specified person or to
his order:
    (a)  On a certain date, specified in the instrument, not less than thirty
    days (30) after the date of the deposit; or
    (b)  At the expiration of a certain specified time not less than thirty
    (30) days after date of the instrument; or
    (c)  Upon notice in writing which is actually required to be given not
    less than thirty (30) days before the date of repayment; and
    (d)  In all cases only upon presentation and surrender of the instrument.
    (39) "Time deposit" means time certificates of deposit, time deposits open
account, and savings deposits.
    (40) "Time deposits open account" means a deposit, other than a time
certificate of deposit, with respect to which there is in force a written
contract with the depositor that neither the whole nor any part of such
deposit may be withdrawn, by check or otherwise, prior to the date of
maturity, which shall be not less than thirty (30) days after the date of the
deposit, or prior to the expiration of the period of notice which must be
given by the depositor in writing not less than thirty (30) days in advance of
withdrawal.
    (41) "Trust department" means the division of a bank which has been
granted trust powers by the director of finance.