2005 Idaho Code - 26-3405 — REGISTRATION OF REPRESENTATIVE TRUST OFFICE

                                  TITLE  26
                              BANKS AND BANKING
                                  CHAPTER 34
         TRUST INSTITUTIONS -- OUT-OF-STATE TRUST INSTITUTION OFFICES
    26-3405.  REGISTRATION OF REPRESENTATIVE TRUST OFFICE. (1) An out-of-state
trust institution may establish or acquire and maintain a representative trust
office in this state. An out-of-state trust institution not maintaining a
trust office in this state and desiring to establish or acquire, and maintain
a representative trust office shall file a notice with the director on a form
prescribed by the  director which shall set forth the name of the out-of-state
trust institution and the location of the proposed office and satisfactory
evidence that the out-of-state trust institution is a trust institution,
furnish a copy of the resolution adopted by the board authorizing the
representative trust office, and pay the filing fee, if any, prescribed by the
director.
    (2)  The out-of-state trust institution may commence business at the
representative trust office on the thirty-first day after the date the
director receives the notice, unless the director specifies an earlier or
later date.
    (3)  The thirty (30) day period of review may be extended by the director
on a determination that the written notice raises issues that require
additional information or additional time for analysis. If the period of
review is extended, the out-of-state trust institution may establish the
representative trust office only on prior written approval by the director.
    (4)  The director may deny approval of the representative trust office if
the director finds that the out-of-state trust institution lacks sufficient
financial resources to undertake the proposed expansion without adversely
affecting its safety or soundness or that the proposed office would be
contrary to the public interests. In acting on the notice, the director shall
consider the views of the appropriate bank supervisory agencies.