2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 5 - BANK HOLDING COMPANIES
Section 26-501 - DEFINITIONS.
(1) "Bank" shall mean any bank chartered under this act.
(2) "Company" shall mean any corporation, business trust, association, or similar organization but shall not include:
(3) "Business trust" shall mean a business organization wherein a business or other property is conveyed to trustees who manage the business or other property for the benefit of the certificate or shareholders of the trust. Business trust shall not include a voting trust.
(4) "Bank holding company" shall mean any company:
For the purposes of any proceeding under subsection (4)(b) of this section, there is a presumption that any company which directly or indirectly owns, controls or has power to vote less than five percent (5%) of the voting shares of a bank does not have control over that bank; and
(5) Notwithstanding the foregoing:
(6) "Financial holding company" shall mean a bank holding company that, notwithstanding subsection (4) of this section, may engage in any activity, and may acquire and retain the shares of any company engaged in any activity, that the director determines, by rule or order:
History:
[26-501, added 1979, ch. 41, sec. 2, p. 81; am. 2001, ch. 137, sec. 1, p. 496.]
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