Idaho § 30-902 - Definitions
Full text of Idaho Idaho Statutes § 30-902 — Definitions, with citation guidance and answers to common questions.
§ 30-902. Definitions
As used in this chapter and in rules promulgated pursuant to this chapter:
(1) "Act" means the "Idaho Escrow Act," chapter 9, title 30 , Idaho Code.
(2) "Department" means the Idaho department of finance.
(3) "Director" means the director of the Idaho department of finance.
(4) "Escrow" means any transaction in which any person, for the purpose of effecting the sale, transfer, encumbrance, or lease of real or personal property to another person, delivers any written instrument, money, evidence of title to real or personal property, or other thing of value to a third person to be held by that third person until the happening of a specified event or the performance of a prescribed condition, when the instrument, money, evidence of title or thing of value is then to be delivered by the third person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee, bailor, or any agent or employee of any of the latter, pursuant to written instructions.
(5) "Escrow agency" means any person engaged in the business of accepting or receiving escrows for deposit or delivery by any means, including over the internet, or by any other electronic means.
(6) "Escrow agent" means any person engaged in the business of accepting or receiving escrows for deposit or delivery on behalf of an escrow agency.
(7) "License" means a license issued pursuant to this chapter.
(8) "Licensee" means a person holding a valid license as an escrow agency under this chapter.
(9) "Person" means an individual, cooperative, association, company, firm, partnership, corporation, limited liability company, or other legal entity, or the plural thereof, whether or not resident, nonresident or citizen.
[30-902, added 2005, ch. 236, sec. 2, p. 717.]
Frequently Asked Questions About Idaho § 30-902
What does Idaho Statutes § 30-902 cover?
Section 30-902 ("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 § 30-902?
A common citation format is "Idaho Statutes § 30-902" (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 § 30-902 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.