26-1204 FALSE STATEMENTS REGARDING BANKS AND TRUST COMPANIES -- CIVIL REMEDIES. - Idaho Statutes

TITLE 26

BANKS AND BANKING

CHAPTER 12

CIVIL AND CRIMINAL PENALTIES

26-1204. False statements regarding banks and trust companies -- Civil remedies. (1) It is unlawful for any person to make, circulate or transmit to another or others any false statement, rumor, or suggestion, written, printed or by word of mouth, which is directly or by inference derogatory to the financial condition or affects the solvency or financial standing of any bank or trust company doing business in this state, or who shall counsel, aid, procure or induce another to start, transmit or circulate any such statement or rumor.

(2) Whenever it appears to the director that any person has engaged in any act constituting a violation of this section, he may in his discretion bring an action in any court of competent jurisdiction to enjoin any such act and to enforce compliance with this section. Upon a showing that a person has engaged or is about to engage in an act constituting a violation of this section, a permanent or temporary injunction, restraining order or writ of mandamus shall be granted. The director shall not be required to furnish a bond. In addition to the foregoing, the director may be granted the following remedies:

(a) An order that the person violating this section pay a civil penalty to the general fund in an amount not to exceed ten thousand dollars ($10,000) for each violation;

(b) An order that the person violating this section pay costs to the department, which may include an amount representing reasonable attorney’s fees and reimbursements for investigative efforts;

(c) An order granting other appropriate remedies upon a proper showing.