2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 2 - ORGANIZATION AND CORPORATION POWERS OF BANKS
Section 26-211 - STOCK-TRANSFERS.
(2) All transfer [transfers] of seven percent (7%) or more of the outstanding stock of a bank by sale, gift or otherwise shall be reported to the director thirty (30) days prior to such transfer and shall be approved by the director prior to such transfer. The director may disapprove a transfer of stock if he finds that the transferee has been removed from a position as a director, officer or employee of a bank or other financial institution pursuant to an order of a state or federal agency, has been convicted of a felony or if in his opinion the transferee does not satisfy the requirements of a stockholder, director or officer as set out in section 26-202, Idaho Code. The provisions of this subsection shall not apply to a voting trust existing prior to July 1, 1978.
(3) All transfers of stock shall be certified by the president of the bank or secretary of the board of directors to the department within twenty (20) days after such transfer.
History:
[26-211, added 1979, ch. 41, sec. 2, p. 72; am. 1980, ch. 132, sec. 1, p. 291.]
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