2005 Idaho Code - 55-1808 — INQUIRY AND EXAMINATION

                                  TITLE  55
                             PROPERTY IN GENERAL
                                  CHAPTER 18
                         SALE OR DISPOSITION OF LAND
                          LOCATED OUTSIDE THE STATE
    55-1808.  INQUIRY AND EXAMINATION. Upon receipt of an application for
registration in proper form, the commission shall forthwith initiate an
examination to determine that:
    1.  The subdivider can convey or cause to be conveyed the interest in
subdivided lands offered for disposition if the purchaser complies with the
terms of the offer, and, when appropriate, that release clauses, conveyances
in trust, escrow and impoundage provisions, and other safeguards have been
provided;
    2.  There is reasonable assurance that all proposed improvements will be
completed as represented;
    3.  The advertising material and the general promotional plan are not
false or misleading and comply with the standards prescribed by the commission
in its rules and regulations and afford full and fair disclosure;
    4.  The subdivider has not, or if a corporation, its officers, directors,
and principals have not been convicted of a crime involving land dispositions
or any aspect of the land sales business in this state, the United States, or
any other state or foreign country within the past ten (10) years and has not
been subject to any injunction or administrative order within the past ten
(10) years restraining a false or misleading promotional plan involving land
dispositions;
    5.  There is no evidence which would reasonably lead the commission to
believe that the subdivider, or if a corporation, its officers, directors, or
principals are contemplating a fraudulent or misleading sales promotion; and
    6.  The public offering statement requirements of this act have been
satisfied.