26-1605 CONDITIONS. - Idaho Statutes

TITLE 26

BANKS AND BANKING

CHAPTER 16

IDAHO INTERSTATE BRANCHING ACT

26-1605. Conditions. (1) The director shall not approve the acquisition of a bank, the home state of which is Idaho, if:

(a) The bank to be acquired has been in existence and engaged in the business of banking in this state for less than five (5) years;

(b) The statutes of the home state of the acquiring bank would not expressly allow a bank chartered in this state to acquire a bank in such state.

(2) Upon notification by a bank, the home state of which is Idaho, that such bank intends to operate a branch in another state, the department will have thirty (30) days within which to object or otherwise act upon such an acquisition.

(3) If the director finds a violation of Idaho law concerning the activities of a bank which has Idaho as a host state, or that such a bank is operating in an unsafe and unsound condition, the director may take any enforcement or corrective action authorized under the Idaho bank act. The director may limit the authority of any bank operating in Idaho to accept or retain deposits originating in Idaho if the bank is operating in an unsafe or unsound manner.