2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 7 - LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES
Section 26-702 - BANK STOCK.
(2) With the written approval of the director, a bank may redeem or otherwise purchase shares of its own capital stock if the director finds that such redemption or purchase does not impair the capital structure of the bank as required by section 26-205, Idaho Code, is for legitimate corporate purposes and not for speculation, is not for an unreasonable price, does not conflict with the articles of incorporation or the bylaws of the bank, and is not otherwise detrimental to the bank or to the public interest. Legitimate corporate purposes for acquiring and holding of treasury stock may include:
History:
[26-702, added 1979, ch. 41, sec. 2, p. 88; am. 1986, ch. 58, sec. 1, p. 167; am. 2008, ch. 140, sec. 7, p. 405.]
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