There is a newer version of the Idaho Code and Statutes
2013 Idaho Statutes
Title 42 - IRRIGATION AND DRAINAGE -- WATER RIGHTS AND RECLAMATION
Chapter 22 - OPERATING COMPANIES -- LIEN FOR MAINTENANCE CHARGES
Section 42-2213 - ACCUMULATED SURPLUS FUNDS -- INVESTMENT.
ID Code § 42-2213 (2013) What's This?
42-2213. Accumulated surplus funds -- Investment. When any corporation organized for the operation, control or management of an irrigation project or canal system, or for the purpose of furnishing water to its shareholders and not for profit or hire, shall have accumulated, out of assessment funds or otherwise, reasonable reserves for emergency, contingent or non-recurring expenses and charges, the funds held in such reserves may be invested by the board of directors of such company under the standards specified in the Prudent Man Investment Act as set forth in chapter 5, title 68, Idaho Code.
History:
[42-2213, added 1965, ch. 186, sec. 2, p. 393.]
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