Idaho § 26-211 - Stock-transfers
Full text of Idaho Idaho Statutes § 26-211 — Stock-transfers, with citation guidance and answers to common questions.
§ 26-211. Stock-transfers
(1) The shares of stock of a bank shall be deemed personal property and shall be transferred on the books of the bank in such manner as the bylaws thereof shall direct.
(2) All transfers of voting securities of a bank by sale, gift or otherwise shall be reported to the director thirty (30) days prior to such transfer and shall be approved by the director prior to such transfer if, immediately after the transfer, the acquiring person or persons acting in concert will own, control, or hold with power to vote ten percent (10%) or more of any class of voting securities of the bank. The director may disapprove a transfer of voting securities if he finds that the transferee has been removed from a position as a director, officer or employee of a bank or other financial institution pursuant to an order of a state or federal agency, has been convicted of a felony or if in his opinion the transferee does not satisfy the requirements of a stockholder, director or officer as set out in section 26-202 , Idaho Code. The provisions of this subsection shall not apply to a voting trust existing prior to July 1, 1978.
[26-211, added 1979, ch. 41, sec. 2, p. 72; am. 1980, ch. 132, sec. 1, p. 291; am. 2015, ch. 204, sec. 5, p. 623.]
Frequently Asked Questions About Idaho § 26-211
What does Idaho Statutes § 26-211 cover?
Section 26-211 ("Stock-transfers") 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 § 26-211?
A common citation format is "Idaho Statutes § 26-211" (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 § 26-211 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.