Idaho § 26-2607 - Acquisition of failing institution
Full text of Idaho Idaho Statutes § 26-2607 — Acquisition of failing institution, with citation guidance and answers to common questions.
§ 26-2607. Acquisition of failing institution
(1) Notwithstanding any provision of the laws of this state to the contrary, if the director determines, in his discretion, that an Idaho financial institution is in danger of failing, or takes possession of a failing Idaho financial institution pursuant to the provisions of title 26 , Idaho Code, and if the director deems it to be in the public interest and necessary to protect depositors, creditors and other customers of that financial institution, the director may solicit offers from, and authorize or require the acquisition of such failing Idaho financial institution by a financial institution or financial institution holding company organized and operated under the laws of any state or the United States. Acquisition may be through merger, consolidation, purchase of all or substantially all of the assets and assumption of liabilities, or purchase of all or a controlling part of the shares of the acquired institution.
(2) The director may not, under this section, accept any offers from, or authorize or require any acquisition by a financial institution holding company as described in subsection (1) of this section, unless he finds that:
(a) The subsidiaries of the financial institution holding company have demonstrated an acceptable record of meeting the credit needs of the communities it serves; and
(b) The financial institution holding company and its subsidiaries have a record of sound performance, capital adequacy, financial capacity and efficient management such that the acquisition would not jeopardize the financial stability of the acquired institution and would not be detrimental to the interests of depositors, creditors, or other customers of the acquired institution or the public interest.
(3) To protect the interest of depositors, creditors and other customers of a failing Idaho financial institution, the director may waive any of the procedures set forth in section 26-2606 , Idaho Code, or in any rule of the department if he deems it necessary to implement the purposes of this section.
[26-2607, added 1985, ch. 185, sec. 1, p. 479; am. 1987, ch. 294, sec. 3, p. 628; am. 1995, ch. 99, sec. 18, p. 321.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 26-2607
What does Idaho Statutes § 26-2607 cover?
Section 26-2607 ("Acquisition of failing institution") 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 § 26-2607?
A common citation format is "Idaho Statutes § 26-2607" (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 § 26-2607 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.