2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 10 - CLOSING AND LIQUIDATION OF BANKS
Section 26-1001 - GROUNDS FOR CLOSING BANK.
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.
History:
[26-1001, added 1979, ch. 41, sec. 2, p. 102.]
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