Idaho § 26-2401 - Definitions
Full text of Idaho Idaho Statutes § 26-2401 — Definitions, with citation guidance and answers to common questions.
§ 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.
Frequently Asked Questions About Idaho § 26-2401
What does Idaho Statutes § 26-2401 cover?
Section 26-2401 ("Definitions") 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 § 26-2401?
A common citation format is "Idaho Statutes § 26-2401" (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 § 26-2401 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.