Idaho § 26-1812 - Conversions
Full text of Idaho Idaho Statutes § 26-1812 — Conversions, with citation guidance and answers to common questions.
§ 26-1812. Conversions
All conversions from one (1) form of charter to another issued by the department shall be approved in advance in writing by the director. All conversion applications filed with the director involving savings banks, including conversion applications under section 26-1813 , Idaho Code, shall include a plan for establishing and maintaining adequate capital to assure the continued safe and sound operation of the bank, savings bank or credit union. Capital plans shall be subject to the approval of the director.
(1) A federal savings and loan association or a federal savings bank, if organized on a capital stock basis, may convert its charter to that of an Idaho bank or a savings bank by proceeding in accordance with section 26-906 , Idaho Code.
(2) A federal savings bank organized on a mutual basis may converts its charter to that of an Idaho mutual savings bank by filing an application in a form approved by the director.
(3) A savings bank may convert its state charter to a federal charter by complying with applicable federal law.
(4) A mutual savings bank may convert its form of organization to that of a stock savings bank by complying with section 26-1813 , Idaho Code.
(5) A mutual savings bank may convert its form of organization to that of a credit union by filing an application in a form approved by the director.
(6) A stock savings bank may convert its charter to that of a state bank by proceeding in accordance with section 26-906 , Idaho Code.
(7) A bank chartered under the Idaho bank act may convert its charter to that of a stock savings bank by filing an application on a form approved by the director.
(8) A credit union organized under chapter 21, title 26 , Idaho Code, may change its charter to that of a mutual savings bank by filing an application on a form approved by the director.
(9) If permitted by federal law, a national bank may convert its charter to that of a stock savings bank by filing an application on a form approved by the director.
(10) If permitted by federal law, a federal credit union may convert its charter to that of a mutual savings bank by filing an application on a form approved by the director.
[26-1812, added 1997, ch. 310, sec. 3, p. 920.]
Frequently Asked Questions About Idaho § 26-1812
What does Idaho Statutes § 26-1812 cover?
Section 26-1812 ("Conversions") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 26-1812?
A common citation format is "Idaho Statutes § 26-1812" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 26-1812 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.