26-2411. DEPOSITS IN BANKS. The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated. The corporation shall not receive money on deposit.
History:
[(26-2411) 1963, ch. 273, sec. 11, p. 695; I.C., sec. 30-1511 (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.