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.]
Structure Idaho Code
Title 42 - IRRIGATION AND DRAINAGE -- WATER RIGHTS AND RECLAMATION
Chapter 22 - OPERATING COMPANIES — LIEN FOR MAINTENANCE CHARGES
Section 42-2201 - MAINTENANCE CHARGES — RIGHT TO COLLECT — BASIS OF ASSESSMENT — LIEN.
Section 42-2201A - AUTHORIZATION FOR OTHER ASSESSMENT.
Section 42-2203 - FILING OF CLAIM OF LIEN.
Section 42-2205 - LIMITATION OF LIEN.
Section 42-2206 - FORECLOSURE PROCEEDINGS RELATE ONLY TO WATER OR WATER RIGHTS.
Section 42-2207 - FORECLOSURE OF LIEN.
Section 42-2208 - INTEREST ON DELINQUENT ASSESSMENTS.
Section 42-2209 - RELEASE OF LIEN.
Section 42-2210 - INTERPRETATION.
Section 42-2211 - SECURING SUPPLEMENTAL WATER — ANNUAL LEVIES — DELIVERY OF WATER UPON PAYMENT.
Section 42-2212 - CONDEMNATION FUNDS FOR FUTURE EXPENSES — PERMANENT TRUST FUND — INVESTMENT.