2005 Idaho Code - 26-1001 — GROUNDS FOR CLOSING BANK

                                  TITLE  26
                              BANKS AND BANKING
                                  CHAPTER 10
                       CLOSING AND LIQUIDATION OF BANKS
    26-1001.  GROUNDS FOR CLOSING BANK. Whenever it shall appear to the
department of finance that:
    (1)  Any bank has violated its charter or any law of this state; or
    (2)  Has violated any general rule or regulation of the director, made in
    accordance with law, or any special lawful order, direction or requirement
    of the director, directed to any particular bank; or
    (3)  That the capital of any bank is impaired or for any reason is below
    the amount required by law and has not been made good after fifteen (15)
    days' notice, as provided by law, or without such notice, in the event a
    majority of the board of directors of such bank notify the director in
    writing that the same cannot be made good within fifteen (15) days; or
    (4)  That such bank cannot meet or has failed to meet any of its
    liabilities  as they become due in the regular course of business; or
    (5)  That its reserve has fallen below the amount required by law and it
    has failed to make good such reserve within fifteen (15) days after being
    requested to do so by the director, or, without such notice, if a majority
    of the directors, in writing, notify the director that such reserve cannot
    be made good within fifteen (15) days, or if it is continually allowing
    its reserve to fall below the required amount; or
    (6)  That it is conducting business in an unsafe and unauthorized manner,
    or is in an unsafe or unsound condition; or
    (7)  It has refused to submit its papers, books and records to the
    inspection of the director or his authorized agent or representative; or
    (8)  That any director or officer of such bank has refused to be examined
    on oath touching the affairs or business of any bank insofar as such
    relate to the solvency of the bank or matters having to do with the
    supervision of the director.
    The director himself, or his duly authorized agent upon express authority
from the director, may in his discretion, close said bank and take possession
of all the books, records, assets and business of every description of such
bank, and hold the same and retain possession thereof until such bank shall be
authorized by him to resume business,or its operations or liquidation be
turned over to the Federal Deposit Insurance Corporation as provided in this
chapter, or its affairs be liquidated as herein provided, and he shall do so
in cases where a bank comes into his hands voluntarily.
    The powers and authority conferred on the director by this section, except
in cases of voluntary surrender, shall be considered as discretionary and not
as mandatory, and so long as the director acts in good faith in the matter,
neither he nor his deputies shall be held liable civilly or criminally or upon
their official bonds in any action taken thereunder or for any failure to act
thereunder.