26-2401. DEFINITIONS. As used in this act, the following words and phrases, unless differently defined or described, shall have the meanings and references as follows:
(1) "Corporation" means an Idaho industrial development corporation created under this act.
(2) "Financial institution" means any banking corporation or trust company, savings and loan association, insurance company or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds.
(3) "Member" means any financial institution authorized to do business within this state which shall undertake to lend money to a corporation created under this act, upon its call, and in accordance with the provisions of this act.
(4) "Board of directors" means the board of directors of the corporation created under this act.
(5) "Loan limit" means for any member, the maximum amount permitted to be outstanding at one (1) time on loans made by such member to the corporation, as determined under the provisions of this act.
History:
[(26-2401) 1963, ch. 273, sec. 1, p. 695; I.C., sec. 30-1501 (1963 Supp.).]
Structure Idaho Code
Chapter 24 - INDUSTRIAL DEVELOPMENT CORPORATIONS
Section 26-2401 - DEFINITIONS.
Section 26-2402 - WHO MAY INCORPORATE.
Section 26-2403 - POWERS OF THE CORPORATION.
Section 26-2404 - RIGHT TO PURCHASE OR TRANSFER CAPITAL STOCK OR OBLIGATIONS OF CORPORATION.
Section 26-2405 - APPLICATION FOR MEMBERSHIP — LOANS.
Section 26-2406 - DURATION OF MEMBERSHIP.
Section 26-2407 - POWERS OF STOCKHOLDERS AND MEMBERS.
Section 26-2408 - AMENDMENT TO ARTICLES OF INCORPORATION.
Section 26-2409 - BUSINESS OF CORPORATION MANAGED BY BOARD OF DIRECTORS.
Section 26-2410 - EARNED SURPLUS.
Section 26-2411 - DEPOSITS IN BANKS.
Section 26-2412 - ANNUAL FINANCIAL EXAMINATION.
Section 26-2414 - DURATION OF CORPORATION.
Section 26-2415 - DISSOLUTION.
Section 26-2416 - CREDIT OF STATE NOT PLEDGED.
Section 26-2417 - CORPORATION DEEMED A STATE DEVELOPMENT COMPANY.