2005 Idaho Code - 57-113 — REPORT ON CAPITAL AND SURPLUS

                                  TITLE  57
                           PUBLIC FUNDS IN GENERAL
                                  CHAPTER 1
                            PUBLIC DEPOSITORY LAW
    57-113.  REPORT ON CAPITAL AND SURPLUS. Every financial institution
designated as a public depository and holding any deposit of public funds of
any depositing unit under the provisions of this chapter shall, on or before
beginning to hold such deposits, file with the treasurer and the supervising
board of each such depositing unit whose deposit it so holds, the affidavit of
one of its officers showing the amount of the capital stock and surplus or
reserves and unallocated or undivided earnings, as applicable, of such
institution. In the event that such institution has such an affidavit on file
with the treasurer and supervising board of each relevant depositing unit on
the effective date of this section, such affidavit or affidavits shall satisfy
the requirement of this section until January 31 of the year next following
the effective date of this act. Such affidavits shall be effective for the
purposes of this section to and including January 31 next following the date
of their filing, but no longer, and, on or before that date, if such
institution is to continue as a designated public depository under this
chapter, a like affidavit shall be filed in like manner for the succeeding
year. No such institution shall receive deposits from nor act as depository
for the public funds of any depositing unit unless and until an affidavit as
is herein required and which still continues in effect is on file with the
treasurer and the supervising board of such depositing unit in accordance with
this section.