2005 Idaho Code - 57-133 — DEMAND DEPOSITS -- PAYMENT OF SERVICE CHARGES -- INTEREST ON TIME DEPOSITS

                                  TITLE  57
                           PUBLIC FUNDS IN GENERAL
                                  CHAPTER 1
                            PUBLIC DEPOSITORY LAW
    57-133.  DEMAND DEPOSITS -- PAYMENT OF SERVICE CHARGES -- INTEREST ON TIME
DEPOSITS. A public depository may pay interest to the depositing unit upon
demand deposits, deposit accounts upon which negotiable orders of withdrawal
may be written, and similar transaction deposit accounts made with it by such
depositing unit as allowed by state or federal law.
    The supervising boards of all depositing units are authorized in their
discretion and from time to time to adopt, amend, and/or repeal rules and
regulations not inconsistent with other provisions of this act providing for
the payment by such depositing unit to its designated depository or
depositories of reasonable charges for their services rendered in acting as
such depositories. The rate of such charges and the terms and conditions
thereof shall be fixed by such supervising boards in such rules and
regulations, and shall be uniformly applicable to all designated depositories
for such depositing unit under like circumstances and conditions. Such charges
shall be allowed and paid from the funds of such depositing unit available for
the payment of its general expenses as other claims against said funds are
allowed and paid.
    Every public depository shall pay interest upon time deposits made by the
public depositing unit at rates not less than those paid to investors for
deposits of the same amount and under like circumstances and conditions;
provided, however, that such time deposits shall bear interest at a rate not
in excess of the maximum rate permitted by any applicable governmental
regulation.